What the “Financial Cleanse” consists of, a money-saving trend that is going crazy on TikTok

If you also started 2023 with the anxiety of too many expenses (between galloping inflation and rising costs of gas, petrol, food, it is not easy to avoid these worries), this is the piece for you. The trend called Financial Cleanse has gone viral on TikTok. A sort of detox program dedicated to one’s finances, with several interesting points for those who, in this period, need to contain expenses and make their savings pay off. Let’s find out more.

Rule No. 1 of the Financial Cleanse: a small saving action every day

According to financial coach Seema Sheth, money-saving practices should never be experienced as a source of anxiety. Sheth deserves credit for creating a one-month Financial Cleanse plan on his Tik Tok account (he just launched it). As the creator specifies, these are not strategies to make who knows what earnings, but for get control of your money for a month. And since a good start is half the battle, the advice is to start the Financial Cleanse now, in January, to set a good course for the whole year. In his first video, which has already surpassed half a million views, Sheth recalls his mantra: each of us can take a small action every day to restore order to our finances.

From theory to practice, arm yourself with a notebook

Seema Sheth’s Financial Cleanse starts at drafting in a notebook of the various subscriptions in progress. The idea is to create three columns, within which to enter: 1. the item of the subscribed subscription (for example: Netflix, gym, Kindle, etc); 2. the monthly cost; 3. the annual cost. At this point it is a question of carefully evaluating each item, understanding if it is a service that we are really exploiting or if instead we are using it little or nothing. According to another TikToker who specializes in financial coaching, Julie from @youneedabudgetthe Financial Cleanse starts from the definition of a series of concrete economic goals for the new year. It is also very important to establish a keyword and/or a guiding theme, for example “growth” or “savings”. Every day, according to Julie, would be appropriate dedicate at least 5 minutes to checking entrances and exits, to always have the pulse of the situation. Yet, Samantha Absher of @wtf_is_a_budget accountrecommend that you commit to set aside a pre-established amount each month, with the precise aim of always having a buffer budget in the event of sudden expenses and periods of crisis. On Instagram, however, the account Millionaires mind recommends an action for each day of the week in the direction of savings. The entry is also important: settle outstanding debts and expenses. And then get into the habit of listening to in-depth podcasts dedicated to economic issues and budget management. To make yourself more and more independent and have as little anxiety as possible.