I love a good money challenge, which my family dreads, by the way. We've done exactly 3 this year. Currently we're doing "90 days of Needs" to pay down a car loan at warp speed that I agreed to, but has kept me obsessed on its repayment for the last 3 months. I HATE DEBT. Let me say it again...I.HATE.DEBT. If you're a Dave Ramsey fan, imagine me screaming that into a microphone like Dave Ramsey's radio callers when they do the debt free scream. I HATE DEBT!!!!
Anyway, almost 2 months ago, I was inspired with the idea to start a 90 days of needs challenge so any extra money we saved could be used to pay off the car faster. The gist is, we're focusing as much as possible on purchasing only what we need. It's always eye opening when we do this. I've discovered that we can convince ourselves we "need" alot of things. I "need" a cell phone... $1200 of cell phone on the $75 per month plan? Or would the $100 phone on a prepaid plan get the job done? I "need" a dishwasher because mine broke. Well... I've got running water and 2 hands, do I really?
Now before you write me off as a deprivation promoting loony, this is not to say those things are bad or wrong in any way. My point is simply that if you've got a financial goal that seems like a stretch, looking at needs versus wants could be a great place to find some extra cash.
