And although I challenge you to as much as a week at a time, blog goddess Frugalista suggests an ambitious no-buy month.
Thing is, they don't offer their tips up with a picture of Oolong the Waffle Bunny. Just saying.
No one is more surprised than me, but I am pretty sure I'm the first person* to come up with The 24-Hour Money Fast. I mean, just Google the term "money fast" and you get a flood of come-hithers for making money, and absolutely nothing about saving it. And ever since I broke up with the skinny dude in the leather jacket, saving money is my life now.
After repeated attempts to log my expenditures and numerous epic FAILS at saving money, from buying myself a monthly "allowance" on a coffeeshop card to hypermiling, I realized the problem.
I didn't have the patience or stamina to stick with any approach for long. I'd have to change my habits in short bursts. To stay motivated, I needed results fast.
Fast, as in Money Fast. (Can't you just see the little trademark sign hovering? Somebody call my attorney).
The rules for this are simple and few:
1. Choose an ordinary working day. You don't want to be too relaxed for this or you won't properly observe your real spending self. The fast begins when you wake up, and goes for 24 full hours.
2. Plan, pack, and prepay for necessities such as transportation, meals, and...well, transportation and meals. Subway and bus farecards or tokens, okay. Packed lunch, absolutely okay. Gas in tank, okay. Prepaid Starbuck's card, not okay (unless is was given to you as a gift).
3. Keep a log of every cost you avoided, as well as any you broke down and paid. Be honest and as complete as possible.
At the end of the day, tally up. Chances are you saved some money. Decide what you're going to do with that money, and do it the same day: send it to your credit card, to a charity, or to your savings account. If you are feeling especially techy-geeky today, you can sign up for PiggyMojo, a site that lets you set a certain savings goal and then text or tweet your account each time you don't spend money.
Whatever you do, reinvest your savings right away, so that you know you've made a difference and the money cannot be reabsorbed into your budget and frittered away (the BOGO effect).
If you are feeling really great about this, now try the Free Weekend or the 7-Day Fast.
