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Where Penny-Smart Meets Life-Savvy

The Penny Post: March Money Madness

Published 6 days ago • 1 min read

Hi Reader!

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It’s that time of year when everyone seems to have a March Madness bracket to fill out. The office pool, the neighborhood bar, the family chat - everyone is weighing in with their picks. Now, I could give you my best tips for picking a winner (I pick by cutest mascot, of course), but I’m going to suggest a different type of contest.

Having discretionary or fun money is essential to sticking with a budget. A restrictive diet rarely works long-term, and money is no different. But the very nature of fun money is that you can spend it on anything you want. So how do you decide what you want? What happens when you spend too much on eating out and don’t have enough money for that new computer you have been eyeing?

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Well, why not make it a contest?

Take a cue from the March Madness bracket and list your short-term and fun spending goals. Then play them one by one, head-to-head. Which ones are easy wins? Which ones are nail-biter close calls? How does your bracket match your partner’s?

You may be surprised by what comes out on top. And if you are doing this with family, it can spark some interesting (and revealing) conversations. Have fun with it and don’t take it too seriously. After all, priorities change all the time, and everyone loves a good Cinderella story.

And if you would like to learn more, schedule a FREE Penny for Your Thoughts Q&A Call​

Remember, small change adds up. Step by step and penny by penny, we’re building a better life. Have a shiny day!

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Laura

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Where Penny-Smart Meets Life-Savvy

Monthly money tips and tricks for getting out of debt, saving more, and spending with intention.

I provide personalized service that transforms clients' relationships with money and helps them practice financial management skills that they can use every day to build their best lives.

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