Week 2 – Spend Less Than You Earn

by Steve Georgoulakis, CFP® on Tuesday January 09, 2024
Posted in Category: Budgeting, Wallet Workouts

Wallet Workouts

New year, new you!

Cut “empty calories” from your budget.

This week’s workout:

Spend Less Than You Earn

  • Count calories in your budget, by tallying dollars coming in and going out each month. There’s only so much money to go around!
  • Service members will see a 5.2% increase in military pay this year, but everyone needs to account for the additional weight from the rising cost of living in their spending plan.

Man doing pushup

Exercise 1

Time to get active! Create a budget and follow these guidelines on the best ways to spend and save.

Several brownies

Exercise 2

Eliminate “empty calories” from your budget like online subscriptions, credit card interest, and impulse purchases. Step up money savers like buying generic, preparing meals, and reviewing insurance coverages.

Couple holding credit card

Exercise 3

No cheat days! Find an accountability partner. Communicate with your significant other about financial goals and be honest about the money you save and spend.

Join us for 7 Wallet Workouts


Jan. 3 Have a Financial Game Plan

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Jan. 10 Spend Less than You Earn

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Jan. 17 Save for Emergencies

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Jan. 24 Use Debt Responsibly

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Jan. 31 Protect Your Life, Loved Ones & Possessions

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Feb. 7 Save and Invest for Your Future


Feb. 14 Rest & Recovery

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Feb. 21 Prepare Your Legal Documents

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