How to Improve Your Finances with Just One Tweak per Week

If you have ever struggled or are currently struggling with money, it can feel like you are alone. That could not be further from the truth. Many Americans are living paycheck to paycheck and no one is born financially literate. A 3-6 month emergency fund can look daunting when making ends meet is difficult enough.

Personal finance is personal and it is important to talk to a professional if you need help with your finances. The Financial Gym is a great place to start. They work with clients of all walks of life and have seen it all.
That being said, this blog is a list of suggestions. As the end of the year quickly approaches, it is a great time to create small habits to carry you into 2023. Improving your finances doesn’t always have to look like completely turning your life upside down and depriving yourself of everything lovely. Simple, sustainable habits will create long term growth. This list is designed one week at a time, but you can certainly do them over a few days if that’s more your style. By the end of four weeks, you will have more mindful habits and cash saved that will motivate you to keep going.

Week One
Pay Yourself First & Autosave

If you are getting a regular paycheck, set up an auto-save that comes out of your account the day it hits. Depending on your goals, it can go into your HYSA or investment accounts. This is one of the easiest ways to increase your savings. If the money is away from your spending account and never even spent time there, you are more likely to save that cash.

Once you have that set up, there are many other ways to save small amounts of money that will add up over time. There are apps and even banks that will round up your spare change and deposit it into savings or IRAs. Add a small auto-save, even $5 every other week into the accounts you don’t check very often adds up. Doing this certainly won’t make you rich, but those small savings IN ADDITION to your main savings is a great combination.

Week Two
Practice “No Spend Days”
Start with 1-2 a week and work your way up to 3-4

No Spend Days are an amazing way to save throughout the week. They are exactly what it sounds like. On those days, you spend no money on certain items for that period of time. For example: you can go from the time you wake up to the time you go to bed not spending any money on food. Get creative for your meals that day, shop your pantry! You probably have food at home. If you buy clothes, challenge yourself to go an entire week without buying new items for the wardrobe.

There are whole groups of people that do this for whole weeks and even months! These aren’t about depriving yourself or your family, but being mindful about spending money. Sometimes, spending money can become so routine we don’t even realize how quickly all of these charges add up. These days are a time to reflect and make sure your spending aligns with your goals. 

Try a few no-spend days and see how they feel. If you enjoy the challenge, add that tool to your tool belt and try to have a few each week. I like to pay $5 into a special savings account every time I complete a no-spend day. This is a visualization of my progress and keeps me motivated.

Check out Liz from frugalwoods.com , she runs a great “Uber Frugal Month” every year that comes with great daily emails to walk you through the process completely free! Liz is an amazing resource if you’re dipping into frugality for the first time. Great for both families and those who manage single incomes!

Week Three
Check Your Recurring Charges

If you have non-essential bills set up on auto-pay, take a day to take inventory of all of those. Make sure you are using it enough to justify the value of paying it. You might be working more now than the last few months and not watching as much television. Cancel anything you don’t find value in and anything that was supposed to be a free trail that turned into a not so free service.

When it comes to required bills, go line by line and make sure you aren’t being overcharged for any services not being provided or rates you didn’t agree to. Auto-pay has many benefits, but it’s always good to set a money date and make sure everything is accurate. This goes for your cell phone, cable, and insurance. Doing this every so often ensures you are being charged fairly and nothing is slipping through the cracks.

Week Four
Learn Something New

Whether you take the plunge and book a warm up call with The Financial Gym, listen to a podcast, read a personal finance book, or watch a Youtube video about budgeting, take the time to learn something new about money. Whether that is starting a side hustle, getting out of debt, saving for college, mental health and money, or money in relationships, there is something out there for you. This world is vast, so take it one step at a time.

This is the last step because consuming personal finance content can keep you motivated. Along with this, you will meet amazing people and learn along the way. There are free resources out there, take advantage of them.

Some of my favorite podcasts are of course, Martinis and Your Money and Financially Naked, those associated with the gym. Others include Money With Friends, Stacking Benjamins, Financial Grown Up, and The David Bach Show.

While cutting costs won’t fix all financial issues, it is the most swift action you can take whenever you want. Watching your savings grow can be motivating and snowball into more. Your financial health journey is a marathon, not a sprint. Start out with these small tweaks over the next four weeks and see the difference in your mindset and money habits!