The Spending Diet Resolution

Have you participated in a spending diet? Do you have trouble sticking to your financial goals? In this week’s chat, we talked about how a spending diet might help you stay motivated to achieve your goals. The panel included: Eliza Cross– Author, blogger and founder of HappySimpleLiving.com and the January Money Diet, Debbi King– founder of the ABCs of Personal Finance and DebbiKing.comRod Griffin– Director of Public Education at Experian and Mike Delgado– Social Media Community Manager at Experian.

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If you have ideas for future topics and guests, please tweet @Teena_LaRo.

Questions We Discussed:

  • Q1: What is a spending diet?
  • Q2: Have you ever put yourself on a spending diet? How did it go?
  • Q3: How do determine what areas in your spending need to be trimmed down?
  • Q4: What should you do with the money you’re saving?
  • Q5: How do you stay motivated to stick with your spending diet?
  • Q6: How do you measure success of your spending diet? (weighing in)
  • Q7: What financial temptations could derail your spending diet?
  • Q8: How do you get back on track if you break your spending diet?
  • Q9: Any final tips to help those with starting their spending diet?

Top Tips from this Week’s Chat:

Spending Diet Explanation

Track Expenses

Snowball

Motivation

Temptations

Derailed

Final Tip

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