After understanding what financial detox is, it’s the right time for you to know the types of financial detox that can control your expenses.
The following are 4 types of financial detox that you can try:
Weekend Financial Detox
In this type of detox, you have to freeze expenses on weekends in certain weeks or months. If you want a significant change, you can do it every weekend. It means that you can’t spend money on anything for 48 hours straight.
As much as possible, during these 48 hours, there are no grocery shopping activities, dinner, and other things.
This method may be the simplest of the 4 methods because you only doit it two days a week.
Therefore, if you want to try financial detox, you can try it from this stage first before moving on to the next stage.
However, undergoing financial detox on weekends can also be challenging for you. You have to be willing to sacrifice some of the activities that you normally enjoy with friends or family, such as hangouts in a coffee shop or go to the cinema.
Weekday Financial Detox
This method is certainly the opposite of the weekend detox method. In this method, you must freeze your expenses on weekdays. In other words, try not to spend money Monday to Friday.
You can still use your money for important things to meet your daily needs. However, you are not allowed to buy unnecessary things during the detox.
Instead, you can use two days on weekends to help you prepare for detoxification on the next working day.
Besides, you can also be free to use these two days to enjoy a relaxing time, such as having dinner outside with your partner, going to the movies and others.
The Every Other Financial Detox Week
The third method is to detox your finances week after week. In this third method, you can do detox alternately. It means that you can do a detox this week, the next week not and so on.
The benefit of this third method is, you still have one week of access to money to do whatever you need, not what you want.
The Full 30-Days Financial Detox
In a way, this fourth method is the most extreme financial detox activity. For 30 days, you are not allowed to spend money on things that can disrupt your financial detox. Thus, you have to cut down on your expenses.
For beginners, the 30-day financial detox method might be heavy and. Because for 30 days you can’t spend on activities like eating out, going to the mall, and shopping for clothes.
Therefore, you need to plan several significant plans to do this detox. It is like planning weekend activities or free time that you will enjoy in 30 days.
According to Money Under 30, trying a financial detox will be painful for about the first week. Thus, before you decide to start financial detox in this method, it will be better if you try the 3 previous types of financial detox first. This is to avoid failure and a sense of despair until finally you no longer want to live it.
Besides, a 30-day financial detox should only be done once or twice a year. Because if you limit too much for too long, you will hate this activity and eventually just give up. Have a try and good luck!
Read more: Be Aware of a Value Trap on Your Financial
