Should You 5:2 Diet Your Finances?

I hate diets; as previously mentioned, I love to eat out. I'm also just not good at diets. The more I restrict my food intake, the more I want to eat the entire contents of my fridge or freezer.

The same applies to my finances; if I try and go three weeks without spending money, I want Michelin dinning, and lunch out every day.

 

5:2 Diet Pros

The "5:2 Finance Diet" is on the rise; an inversion of the "5:2 Diet". You don't spend / significantly reduce your spending for 5 days, and spend what you want for 2 days.

 

The core benefits include increased savings and an increased appreciation and awareness on spending.

 

If you want to shock yourself into realisation this "diet" is a great starting point; do you really need to take a taxi, or takeout over cooking?

 

5:2 Diet Cons

This form of spending can create a physiological imbalance that causes significant spending on your 2 days of spending; you might spend more on these 2 days that you would invariably in a week. 

 

The 5:2 finance diet may be perceived as a short term solution rather than a long term lifestyle. 

 

Other Options?
This is not a diet blog, and I am by no way in Heidi Klum state, but my finance's tend to follow my eating, which is balance, balance and more balance. Some days I set myself little challenges, like:

  • Today I won't spend any money. This involves:
    • taking my lunch from home,
    • actually eating what's in the freezer for dinner that I've cooked previously, and
    • going for a walk with a friend instead of heading to the pub. 

If I splurge (holidays and meals out), I'll regulate on other days. I personally know that complete restriction won't work. 

Photo from the beautiful unsplash.com

Wee Scot Finance