Turn the Sunday Scaries into a productive feeling towards your finances with the Sunday Scaries Money Challenge. Conquer your financial fears each week and review your bank accounts or budget.
We recommend Sundays, but if you want to go crazy with a different day of the week, don’t let us stop you…
What is the Sunday Scaries Money Challenge?
The Sunday Scaries Money Challenge is simple and effective. It results in you taking control of your finances.
Every Sunday invest 5-10 minutes reviewing your financial accounts, transactions, budget and goals. During your review you’ll check-in on transactions and balances in your accounts to ensure you are on track. The key to this challenge is making this a part of your Sunday routine. The scaries will disappear once you develop this weekly habit.
To highlight why the habit of reviewing your finances on a regular basis is so crucial, imagine you are in a basketball game and there is no one keeping score.
You shoot and make a few 3-pointers, the ball gets stolen and you get dunked on, and you miss a layup. But the thing is after a certain point you’d have no idea if you are ahead or behind.
That’s what it’s like not reviewing your spending and financial goals on a regular basis.
Once you start reviewing your finances regularly, you’ll get an idea of where your finances stand. From there you can set goals, track your progress, and flex your new financial muscles!
To get started, join the Sunday Scaries Money Challenge on Ostrich.
Who is this for?
The Sunday Scaries Challenge is for those who want to take control of their finances. If you are not sure whether you are on track to hit your financial goals or you’re unaware of how you are doing financially, then Sunday Scaries is for you. Additionally, Sunday Scaries is great for families and couples who want to work together towards mutual goals. It encourages better communication around finances and aligns everyone towards a common goal.
You can use a spreadsheet, an app, or manually check your accounts to participate in the Sunday Scaries Money Challenge.
Are you ready to get a grip on your finances? You can sign-up for the Sunday Scaries Money Challenge on the Ostrich app.
How to implement the Sunday Scaries Money Challenge
Step 1: Sign up for Sunday Scaries, invite your friends and family to join and then set aside a specific time for you to review your finances.
Step 2: Decide how you will track your accounts. Will it be through a dashboarding or budgeting app that automates all of the data from your accounts, or will you print out your bank statements and credit card statements?
Step 3: Once a week, review your finances and check in on Ostrich once you’ve completed your review. You’ll start to notice trends week over week and month over month that will help you stay on track financially.
Tools to get there quicker
Automation: We recommend using a dashboarding app like Mint, Personal Capital or You Need a Budget that will pull all of your finances into one place. This will save you time and help you spot trends more easily.
Hybrid: The Money in Excel add-on allows you to automatically pull in your bank account and credit card transaction data to Microsoft Excel, but offers the freedom of a spreadsheet to customize what you see if you so desire.
Manual Tools: Good old-fashioned pen and paper is still the most effective method for some people.
Related challenges to Sunday Scaries: DCA is the Way, Acquire Then Retire, Avalanche, 52 Week Money, Penny Savings.
Benefits of the Sunday Scaries Money Challenge
Less Anxiety. As you build the habit of checking in on your finances each Sunday, you’ll become less anxious as you understand where you stand financially. One of the main causes of anxiety about money comes from uncertainty and not knowing exactly where you stand.
Develop Better Habits. By tracking your finances on a regular basis you’ll start to notice patterns in your spending and earning. As you identify good patterns you’ll start to repeat those and if you pick up on not-so-great patterns you can make changes to your behavior.
Gain Confidence. As you make progress towards your financial goals, you’ll gain more confidence. The Sunday Scaries will start to dissipate and you will start focusing on bigger more rewarding financial goals.
Recap
The Sunday Scaries are very real, especially when it comes to the stress, anxiety and even shame often associated with finances. By joining the Sunday Scaries Money Challenge and reviewing your finances weekly, you’ll reduce your anxiety towards money, develop better habits, and gain confidence in yourself. The best part of the Sunday Scaries Money Challenge is that you can use whatever budgeting tools you prefer and you can work together with your friends or family. Get started today on the Ostrich App and take control of your financial future.
