The 7-Day Financial Cleanse

How long do you think it would take to get your finances in order? Weeks? Months? What if you could do it in only seven days?

Whether you’re looking to reduce debt, increase savings or just want to feel more in control of your financial future—or all of the above—getting on track isn’t necessarily the arduous task you might be imagining. 

Start by performing just one small task each day. By carving out a little time each day for a week, you’ll end up with a clearer picture of your current financial situation and set yourself up to make better decisions about your money moving forward. Think of it as a seven-day financial cleanse.

Day 1: Reevaluate Your Goals
Kick off the process by checking in on the financial goals you’ve set for yourself—or perhaps by setting some targets for the first time. Either way, it’s an important step: Goal setting gives you something to shoot for and lets you measure progress along the way. And even on an entry-level salary, it’s essential to consider what you want to do with your money, both now and in the future: Travel and explore the world? Retire early? Save for a big dream purchase? Whatever your short- and long-term goals might be, defining them is essential—and since they often shift as your life evolves, giving them a checkup is a smart place to start.

Day 2: Review Your Budget
Today you’ll take on another important review: your budget. (And if you don’t have one, get started!) What kind of salary are you making these days? And how does that compare with what you’re spending and saving? Don’t forget to factor in emergency funds for unexpected events like car repairs. Maybe you’re making more but spending a higher proportion of your pay? A budget will make that clear. Creating a budget—and sticking to it—not only helps you reach your goals but also gives you the confidence of knowing that you’re on track.

Day 3: Make a Plan to Handle Debt
Now you’ll face one thing that can seriously impede your financial progress: debt. While you likely won’t be able to eliminate what you owe in a day, take this time to figure out how to pay down your debt. Look at any outstanding debts you have, then figure out what you can realistically divert from your budget to reduce what you owe over time. Your debt-free future self will thank you. 

Day 4: Automate Everything
Are you still manually paying each bill and moving money from checking to savings? One thing that makes it easier to stay on track (and makes life easier in general) is automating this process. Not only is automation more efficient, but it saves you from having to remember—and potentially forgetting—to pay bills. Your finances are too important to leave to chance! Also consider bucketing your money by setting up accounts with different goals (saving for a home or a child’s education, say), then automating a monthly transfer; it’s an easy way to funnel money away from easy-to-access checking accounts.

Day 5: Cut Down Ongoing Costs
Do some decluttering by trimming your regular monthly expenses. Go through your credit card statements and pick out any recurring monthly fees—from streaming services to gym memberships. You might even find some surprises! Then be honest with yourself: How often do you use each of them? Keep the ones that are most important to you and unsubscribe from everything else. For the things you decide to keep, find out if there are ways to reduce those costs—like paying for a gym membership on an annual basis instead of monthly for a discount.

Day 6: Make Sure You’re Using the Right Credit Card
Today is about protecting and optimizing. And using credit cards instead of debit cards could help. In many cases, credit cards offer a higher level of protection for what you buy—and they also help you build credit. Some credit cards even come with hidden benefits that can really pay off. So take some time today and look into the benefits your cards offer—from the level of purchase protection to opportunities for cash-back rewards—and make sure your plastic is optimized for your particular needs.

Day 7: Set Up a Tracking System 
Your cleanse is done … almost. With the basics in place, the final day is for creating a plan to make the most of your efforts this week and ensure you stay on track. After all, a cleanse isn’t worth much if you just go back to your old habits. So figure out how to keep yourself on budget over the long term, set yourself up to continually save just a little more over time, and commit to sticking to that plan. Finish by setting up check-ins for yourself at least once a quarter where you review your progress toward your goals. Good luck!

Rich Beattie is a former executive digital editor of Travel + Leisure and has written for outlets such as The New York Times, Popular Science, New York Magazine and SKI.

Still looking for ways to analyze your spending and additional tips to help you save money? Consider conducting a spending analysis sooner rather than later to get a better handle on your budget, and use additional tools that can help you progress toward your financial goals.