How to put yourself on a money diet

first_imgFor the past six years, Eliza Cross, a professional blogger and freelance writer in Denver, has put herself on what she calls a “money diet.”Not that she coined the phrase. “Money diet” is a term that’s been around since at least the 1980s. For a stretch of time, maybe a week and often a month, you spend no money, except on essentials like groceries, gas and medicine. Unlike a food diet, where you want to lose pounds, the goal is to gain money. And if you do it right, Cross says, you should have more money than usual at the end of the month, and you may gain better financial habits as well.Cross has been putting herself on a money diet every January, for all 31 days. She writes about it and commiserates with her readers on her blog, HappySimpleLiving.com.And while Cross does it every January – “it’s a good time of year when we’re motivated to make changes in our lives, and a lot of us have been spending a lot over the holidays,” she says – you can obviously go on a money diet any time. That said, some parts of the year are probably more challenging than others, such as the middle of summer, when you may want to do things like go on vacation, visit an old-fashioned ice cream parlor or take the kids to the water park.It will help your cause if your family embraces the idea of a money diet. Cross is divorced and her oldest child is a grown-up, so that makes it easier for her than someone with an uninterested spouse and seven teenagers (although that hypothetical family would need the money diet more). Cross has a 13-year-old son, Michael, but so far, she says he has hardly noticed the extra-frugal periods. continue reading » 40SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblrlast_img

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