It's never a bad time to refresh your mind, body, and soul, and explore ways of making all three stronger and healthier, and what better way than a detox? A detox doesn't just have to be limited to diet alone. You could also do a detox for your finances and give your expenses a much needed cleanse while giving your savings a boost. Improving the health of your personal finances will immediately relieve stress, which in turn can positively influence your mind, body, and soul. So let’s get to it!
If your personal finances are bringing you some trouble – or if your spending seems to be getting out of hand – you can do a 30-Day Financial Detox and start see for yourself how much you can actually save by cutting out the fat in your budget. Even if you think you’re already flush (or flushed out) you can still benefit from joining the movement.
How You Can Boost Savings and Decrease Expenses
Exercise some wisdom and drop the guilt if you think you’ve already botched your financial goals and resolutions. Through this blog – and others alike – we’ll be helping you work through your own financial detox to help you build more muscle, money wise.
We’ll explore ways to:
- Boost your savings by avoiding bad money attitudes and spending habits
- Focus on written goals that motivate you
- Flush out waste by tracking and managing your spending
- Build a healthy, written monthly budget
- Strengthen your immunity to needless impulse purchases
- Reduce daily and monthly expenses that weigh you down
- Use tools that support your financial goals, like our Budget Calculator
A 30-Day Financial Detox can make just about anybody feel better by boosting savings through smart money management.
Take Control of Your Finances with Smart Money Management
A lot of us like to jumpstart our health by doing a detox. Well, we can do the same with our personal finances—sometimes you need a good flush to refocus on the goals that really matter to you, and the ones that will change your life when you achieve them. (Because you will.)
Our financial habits can affect other aspects of our lives that have a direct impact on our mental, emotional, psychological—and yes, even physical—well-being. That’s why it’s important to take control of our finances and build budgets that work in unison with our short and long-term financial goals.
Watch What You Spend Your Money On
Is what you spend your money on adding to your life in a positive way? Do the benefits outweigh the costs? A 30-Day Financial Detox is about getting rid of the expenses that don’t help you and that might actually be impeding you from achieving what you want and need for total well-being. For example, look for ways to save on everyday living expenses. Then take those savings to put towards achieving goals that truly matter to you, like getting rid of your debt or saving for a down payment, wedding, cottage, travel, education, or home improvements that will make everyday living a little bit better.
Take the Right Steps Towards Your Financial Well-being
It feels good to know you are taking steps every day, no matter how big or small, towards the things that matter. And when you do go out and splurge on a nice dinner or a night out at the movies, you can avoid the guilt because you budgeted for it.
The real challenge is making changes to your monthly spending and budgeting to suit a lifestyle you can live with. Let’s dream together and take realistic steps to make those dreams come true – with a little fun thrown in for good measure. Because remember: dreams have no deadlines.
Money Management and Debt Help is Just a Phone Call Away
An overall budget regimen makes for a positive attitude and clear head. Enjoy peace of mind in the present and confidence in your future. Write down goals that keep you motivated, and build a monthly budget that works for you, for real. And if you need help, just gives is a call at 1.800.267.2272. Our counselling is 100% free, confidential and non-judgmental.
Frequently Asked Questions
Have a question? We are here to help.
What is a Debt Consolidation Program?
A Debt Consolidation Program (DCP) is an arrangement made between your creditors and a non-profit credit counselling agency. Working with a reputable, non-profit credit counselling agency means a certified Credit Counsellor will negotiate with your creditors on your behalf to drop the interest on your unsecured debts, while also rounding up all your unsecured debts into a single, lower monthly payment. In Canada’s provinces, such as Ontario, these debt payment programs lead to faster debt relief!
Can I enter a Debt Consolidation Program with bad credit?
Yes, you can sign up for a DCP even if you have bad credit. Your credit score will not impact your ability to get debt help through a DCP. Bad credit can, however, impact your ability to get a debt consolidation loan.
Do I have to give up my credit cards in a Debt Consolidation Program?
Will Debt Consolidation hurt my credit score?
Most people entering a DCP already have a low credit score. While a DCP could lower your credit score at first, in the long run, if you keep up with the program and make your monthly payments on time as agreed, your credit score will eventually improve.
Can you get out of a Debt Consolidation Program?
Anyone who signs up for a DCP must sign an agreement; however, it's completely voluntary and any time a client wants to leave the Program they can. Once a client has left the Program, they will have to deal with their creditors and collectors directly, and if their Counsellor negotiated interest relief and lower monthly payments, in most cases, these would no longer be an option for the client.