2011 Financial Fast Challenge! Here we go again

Well ladies here we are again. Christmas is over and the new year is here, and hopefully your credit cards have cooled off and your checking account can now rise above a $25.00 balance! We have all set goals for 2011 to make good decisions and changes in our lives. This should include our wallets ladies?!! We MUST create balance-figuratively and literally- in our lives. With the economy being at an all time low, no longer can we ignore our wallets, our low checking account balances and our over/emotional spending time and time again. Let's get to the root cause of our financial status and get financially healthy!

Our 2011 challenge for January and Feburary is to stop ALL of the UNNECESSORY spending! I know you are feeling warm and having heart palpitations right now, but trust me ladies no one has ever died from not purchasing their 5th pair of black pumps at the Macy's clearance sale.

So ladies here are the rules:

• Set a S.M.A.R.T goal for the financial fast(see the next post) and pray about your goal during the challenge.
• You may not use ANY credit cards for the month of January and February. WOW!
• You can only spend $30.00 on entertainment for the entire month.Yes only $30.00. You can do alot for this small amount. Go to Redbox and rent a movie, have a family game night, Be creative.
• No unnecessary purchases such as clothes, shoes(even clearance items), new makeup, extra items at the nail salon(no designs).
• Create a spending journal and keep track of your spending by writing down everything that you spend in a day, no matter how small. At the end of the day add your total and find ways to save.
• Balance your checkbook at least once a week. Know how much money is in your checking and savings account.
• You may only eat out twice during the entire month for dinner. Spending limit of $25.00.
• You may only spend $5.00 a week to eat lunch. This includes eating in the cafeteria.
• Spend extra time with your family
• Start a savings account and begin paying extra on credit card bills.

I pray that we are all able to commit to the entire challenge. Let's develop the mind-set of sisterhood and encourage our sisters along the way. Also, invite others to join the fast with you to help your accountability.

This year we are on Facebook.(2011 Financial Fast) join us there also to post your progress and victories!

Okay who is in???