I think that most people will be able to relate to what I am about to share.
From the beginning of Ramadan, just over 2 weeks ago, until now, I noticed that I have more money left over at the end of my pay cycle than usual. So I thought about what happened and it didn’t take me too long to figure it out.
What is the one most obvious luxury we give up during Ramadan? The eating or snacking during the day! Especially when you are at work during the day, unless you bring snacks and food to work with you from home, the cost can add up very quickly.
Now I am speaking directly to those who don’t bring their meals from home for the rest of the 11 months of the year. Let’s average about $6 per day on snacks, beverages and food purchased at work. Over the course of 10 work days per pay period (In Canada most jobs will pay bi-weekly) that is $60 per pay! Over the course of a 30-day month that is about $130.
Let me say that again. $130!!!
That can be used as (in order of preference):
- A payment towards your debt
- A sadaqah/charity
- A deposit into a rainy-day fund
- A savings for a big purchase that you would normally have bought on credit and interest
If you didn’t already figure out how much you were slowly spending every day through your own financial tracking, now you’ll know!
TAKE ACTION NOW!
Make an intention right now, right here that you will use the rest of Ramadan to continue training yourself to stop this habit of spending on snacks and food everyday so that you can invest that money in paying off your debt.
Be consistent and be determined to do this. Be careful of the “once-in-a-while” trap. It is easy to get into and once you’re in, it’s hard to get out.
Don’t get me wrong, no one is saying that it is bad to spend on a yummy snack or a delicious meal, but if you are in debt you have to clean house first!
WANT TO TAKE EVEN BIGGER ACTION?
Use this tool to track your progress. Studies show that it takes 21 days to form a habit. Be true to yourself and track yourself for at least 21 days straight. If you try to skip and skim, you will only be cheating yourself!
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