The $100 Savings Challange

Just as the cherry blossoms were bursting into bloom, Obama was issuing instructions to his cabinet:  cut $100 million from the budget.  Three months later, mission accomplished — $102 million in expenses had been slashed.

When I read this in the Wall Street Journal,,  my immediate reaction:  “Why hasn’t the media made more of this fact?”   We hear, ad nauseum, about the stimulus (read: spending) packages, dragging the nation deeper into debt.  But what about these recent efforts to save money?  Now, in my mind, that’s news!!

Granted, that $102 billion is a microscopic portion of the general deficit, 0.0006%.  But the real story is how quickly and seamlessly government made those cuts… and the public never even felt the pinch.  If a giant bureaucracy can do that, certainly each one of us can too.

Washington called this program “The $100 Million Savings Challenge.” Imagine if you began your own “$100 (you determine the zero’s) Savings Challenge?”  Imagine if you started today, right now, shaving small amounts from your spending every month.  Then imagine if you took it one step further, and stashed the savings in the bank.  Imagine what that would do for your personal fortune!

There is a saying; “It’s easier to find 500 ways to save $1, than one way to save $500“.  That’s exactly what these government heads did: found all kinds of ways to trim small amounts.  For example, making double-sided photocopies, emailing documents instead of printing them, cutting unused phone lines.  Small.  Simple.  Painless.  Very effective.

I’ve always said, small steps consistently taken create remarkable results. Now what about you? What teeny-tiny cuts can you begin making right now? I’d love to hear your ideas.

Barbara Stanny

The leading authority on women & money
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Meet Barbara Huson

When a devastating financial crisis rocked her world, Barbara Huson knew she had to get smart about money… and she did. Now, she wants to empower every women to take charge of their money and take charge of their lives! She’s doing just that with her best-selling books, life changing retreats and private financial coaching.

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