10 Days of Challenges to Get Your Finances in Order

Lap Lap
6 min readJan 19, 2022

We’ve all heard the phrase “finance is the key to success”. And while it’s important to focus on your finances, planning ahead and getting your financial house in order can be easier said than done.

In fact, according to a report by GlobalWebIndex, the average American spends about 20–25% of their budget each year on lifestyle expenses.

That’s why we put together this list of 10 challenges that will help you think about how you’re spending your money and help you get more control over your finances.

1. Create a household budget.

The first step to getting your finances in order is creating a household budget. Start by figuring out how much money you’re bringing in and how much you spend every month on expenses for things like rent, food, utilities, and more.

Once you’ve figured out your total income, subtract all of your expenses from that amount. This number should represent the amount of cash that’s left over each month.

Divide the leftover cash by 12 to calculate how much money you have left each month on average to put into savings and investing accounts such as your 401k or IRA account (there are many great places for young people to invest their money).

2. Exercise your right to carry forward.

When you’re trying to get your finances in order, one of the biggest traps you can fall into is spending every dollar that comes out of your bank account.

When this happens, your money starts to add up quickly and before you know it, interest rates on your savings accounts and credit cards are being charged at a much higher rate than they need to be.

This can put a serious dent in your budget if you’re not careful. Some banks and financial institutions will let you carry forward a certain amount that won’t be charged interest for up to six months.

As a result, you may have more money in your bank account than you think.

3. Cut out your unnecessary expenses.

Unless your budget is completely overrun by lifestyle expenses, there are probably some unnecessary things that…

Lap Lap

I am a writer for one reasons. It’s what I’m meant to do with my life: create worlds, characters who breathe and live off the page with me.