For those of you who don’t know I am a Church going kind of guy. The Christian season of Lent, means different things to a lot of other parts of Christianity. The one I like is that Lent is a time for reflection and improvement of yourself. With that in mind, given Lent starts today, here is (yet another) chance for you to start trying to make your financial life better.
Remember that Lent is celebrated over 40 days. Starting today (Ash Wednesday) and ending on Good Friday (the Friday before Easter). For those with an arithmetic bend on things, you will notice that is more than 40 days, but that is because you treat Sundays as a “day off. Let us not get hung up on that one.
You can start for a short period to change your financial life (for the better, please). What kind of things?
Things To Do for Lent
- Decide to pay off a number of debts, or maybe just one, but by the end of the period, it will be paid off, and it will be done. Make easy goals to begin with, you can challenge yourself as you get better at things (i.e. don’t attempt to run a marathon first thing, maybe start with trying to go 1K?)
- Live on ca$h only for those days, no credit cards, and try not to use debit either. See if this is something you can do, or whether it is just too much for you to deal with.
- Rebalance and research all your investment vehicles. Is it time to start becoming a Couch Potato investor? Good time to start.
- Maybe add a fitness aspect to this, so that you are ready for your retirement. Maybe it’s time to review whether you should use an RRSP for this, or maybe your TFSA?
- Are you being charitable enough? Lent would be a great time to start giving of your time and skills more, and it does not need to be monetary. You may have talents that community groups need.
Lent is here. Let us all give a cheer?!?
My lent is basically a continuation of my new year’s resolution.
Only eat out no more than once a week and it must be healthy.
Reallocate some of my monthly savings towards my car loan to knock off 4 months of loan payments during lent. Pay more by using savings from not eating out as much.
And last but not least, give up pop. That is my nemesis.
For some you can “restart” your New Years resolutions, for others (like you) it is a continuation, good on you!