I fucking love money challenges. As a naturally competitive person, gamifying self-improvement is totally my jam. I’m one of those weirdos who sets a New Year’s Resolution every year and always finishes it. Turning money, exercise, or learning a new skill into a game to be won makes it feel like I’m leveling up with every grand I save, baby!
I’ve tried a number of money challenges to achieve my goals (like paying off my student loans in half the time). But some criticize money challenges. They risk starting you on a financial yo-yo diet in which your good habits wax and wane according to whether you’re currently pursuing a money challenge.
Preach, Sir Ian McKellen! I don’t buy the yo-yo diet theory of money challenges. Rather, I think money challenges are a fresh and exciting short-term method of meeting long-term goals. And while I’m sure there have to be downsides, I blithely hypothesize that the good far outweighs the bad.Read More