Get expert insights delivered straight to your inbox.

Skip to Main Content

The $100 Challenge

Take the next seven days and give yourself a pay raise.  Each day tackle the following tasks. You can do it!

Day One: Trim the Cable TV

We live in a media-driven world. It’s how we obtain information these days, but it doesn’t have to be expensive. Dig out that TV cable bill and take a look at your package. Many cable companies offer a basic package, but they don’t promote it heavily. Call your cable provider and negotiate a less expensive monthly package.

Day Two: Home and Auto Insurance

When was the last time you looked at your insurance coverage? If you’re like most folks, you can’t remember.  You could save hundreds of dollars a year just by critically examining your insurance costs. Are you paying for coverage you don’t need? Is your insurance provider giving you the best rates? If you’re not sure where to start, contact one of Dave’s Endorsed Local Providers and have them do the hard work for you.

Day Three: Cell Phone

Don’t worry, we aren’t going to suggest you get rid of your cell phone. But we do want you to look at your monthly bills. Cell phone carriers are notorious for adding-on features you didn’t ask for and sometimes don’t even know you have bought. Check to see if you are on a plan that fits your lifestyle.  Decide if you absolutely have to have that data plan.  Do your kids really need to be able to send and receive pictures and videos? Finally, if everyone in your family has a cell phone, you might consider cutting out the cost of a land line.

Day Four: Return It!

That’s right, take something back.  If you’re like most consumers, you’ve bought something recently on an impulse and it’s still sitting at home, unused.  Find that receipt and take it back, now!

Day Five: Evaluate Your Hobbies

Now we move into the more difficult topics.  You can take away a lot of things, but don’t take away fun, right?  Hobbies are important for maintaining a well-rounded life, but many hobbies steal from your emergency fund and other priorities.  Take a look at how much your hobbies are costing you each month, and each year.  Make a decision to cut back on those cost by half. If you decide to cut a hobby out completely, see if you can sell your former hobby’s toys online!

Day Six: Toys are for Kids

Toys and hobbies go hand-in-hand.  Toys are often viewed as tools by the adult owner, but they are rarely necessities to life.  How often does that 4-wheel ATV really make it out of the garage? Do you still use that high-end embroidery machine? You can often give yourself a raise and build an emergency fund just by selling off those rarely used items.

Day Seven: Ditch the Drive-Thru

There is a restaurant on every corner in every town in America. Why? Because we love to eat out!  This is an area where all of us spend way too much money.  Eating out is part of our culture, but some folks could put a child through college on what they spend eating on the go each year.  Commit to eat out only one day a week going forward. Stop eating out completely, and you may be able to keep that toy you don’t want to sell!

EveryDollar can help you know exactly where your money is going. Get started today!

Did you find this article helpful? Share it!

Ramsey Solutions

About the author


Ramsey Solutions has been committed to helping people regain control of their money, build wealth, grow their leadership skills, and enhance their lives through personal development since 1992. Millions of people have used our financial advice through 22 books (including 12 national bestsellers) published by Ramsey Press, as well as two syndicated radio shows and 10 podcasts, which have over 17 million weekly listeners. Learn More.

Related Articles

the truth about afterpay

What Is Afterpay?

Afterpay? No way. This buy now, pay later lender pushes the agenda of instant gratification—which doesn’t last! Learn exactly how it works, and why you should avoid this sneaky debt trap.

Rachel Cruze Rachel Cruze