What Will Lynne Do? What Will You Do?

52 Week Money Challenge Note: The challenge continues. It is not to late to join me. To track our monthly progress and share savings tips, refer to the post titled "Where are We Now? 52 Week Money Challenge. Look forward to seeing your progress!

What Will Lynne Do?

Last month we looked at the number of working hours it takes to buy an item. This month I want to introduce you to Lynne who I use to create "What will Lynne do?" scenarios in workshop activities. Lynne earns $48,000 a year. Using the time is money calculator, we see it takes 9.7 hours for her to earn enough money to pay for $150 of groceries. Using the calculator, find how many work hours will it take you to purchase $150 worth of groceries.

Lynne wants to get more reward points, so she uses her credit card that has 21.99% interest to pay for her groceries. If she makes the minimum payment, using the True Cost Calculator it will take Lynne 18 months to pay for her groceries.

With interest, the $150 groceries will cost $178.66. If you have a credit card, calculate long will it will take you to pay back $150 for groceries making the minimum payment. Lynne decides she is gaining to much weight and wants to see what she is eating and how much she is currently spending on all the on food she eats including take out and snacks. In March, she will save receipts from all food purchases including carry-out and dining out. She will record in her phone the snacks she buys and their cost. What will be interesting is to see what she buys and what influences her buying behaviors. Lynne will make notes about her mood and who is with her when she makes her food purchases to help her gain deeper insights about her food buying decisions.

What Will You Do?

You may watch the show "What Will You Do?", so think about what you will do financially in taking action in managing your money, tracking your expenses or

helping someone else, a friend or family member in one of these areas. Also asking a trusted like minded friend or colleague to track their spending, too, helps as a support.

Remember what gets 'measured gets managed.' Pearl and Dan, my mom and dad regularly made notes and lists for a number of our household activities to keep us on track.

Find what works best for you to track your actions.

In March we will see what Lynne discovers about her food buying behaviors and explore the connection between health and wealth. In the meantime, share your comments about this post and/or your thoughts about ways our health connects to our wealth. Thanks and wishing your success with managing your money!

Bill paying image by Morgan and Journal image by Next TwentyEight