You’ve probably heard of the famous ’75 Hard Challenge,’ a fitness and mental toughness program that has taken the internet by storm. Originally created by entrepreneur Andy Frisella, this challenge has gained immense popularity worldwide.
However, while physical health is essential, what about your financial well-being? In this blog, we introduce the ’75 Hard Challenge: Finance Version.’ This financial transformation program includes four key financial habits that you must follow diligently for 75 consecutive days.
Let’s dive into how you can conquer this new challenge and set yourself up for a brighter financial future.
Rule 1: Daily Expense Restriction
To kickstart your ’75 Hard Challenge’ for finances, the first rule involves restricting your daily expenses to INR 500, excluding essential bills. While this amount may vary depending on your lifestyle, we recommend striving to spend less than INR 500 daily. Financial discipline starts with prudent spending, and this rule ensures you evaluate your expenses carefully.
Rule 2: Daily Savings Goal
The second rule is all about cultivating a savings habit. Your task is to save a minimum of INR 200 every day during the challenge. While this amount may seem modest, it can grow significantly over time. By the end of the 75 days, you’ll have INR 15,000 in savings. This money will serve as your starting point for investing in Mutual Funds (MFs) or other investment options, making your money work for you.
Feel free to adjust this daily savings target based on your financial capacity, but remember, the goal is to push your limits.
Rule 3: Enhance Financial Knowledge
Financial literacy is a crucial aspect of achieving financial success. Rule three of the ’75 Hard Challenge: Finance Version’ requires you to dedicate time to improve your financial knowledge. Commit to reading at least 10 pages of financial content daily. Dive into financial newspapers, explore SEBI/RBI circulars, and stay updated with financial news from reliable sources like Kuvera.
Over 75 consecutive days, you’ll enhance your understanding of financial concepts, investments, and money management which will set you up for many future financial decision makings.
Rule 4: Grow Your Income
The fourth and final rule focuses on income growth. Dedicate 45 minutes every day to activities that will boost your current income. This could involve exploring side hustles, taking courses to enhance your skills, or finding ways to excel in your current job.
The objective is to increase your income potential. By actively seeking opportunities to earn more, you’ll not only secure your financial present but also pave the way for a more prosperous future.
Comparing ’75 Hard Challenge’ to the Finance Version:
Now that you understand the key rules of the ’75 Hard Challenge: Finance Version,’ let’s compare it to the original fitness challenge. While both challenges aim for self-improvement, they target different aspects of your life:
Original ’75 Hard Challenge’:
- Focuses on physical and mental fitness.
- Involves two daily workouts, a strict diet, water consumption, reading, and progress photos.
- Enhances physical endurance and mental resilience.
- Designed to focus on consistency and habit building.
’75 Hard Challenge: Finance Version’:
- Focuses on financial health and discipline.
- Requires daily expense control, savings, financial knowledge enhancement, and income growth.
- Enhances financial discipline and money management skills.
- Designed to set you on the path to financial success and security.
What can you expect at the end of the challenge?
