Sept 2018 £0 Challenge Part 1: Running Out Of Money

from by Kimwei

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Running Out Of Money?

In summer 2014, with no work booked and only a couple of hundred quid in the bank, I conceived and took what I called The £0 Challenge. I wanted to face my fear of running out of money, by well… doing it on purpose. The rules were as follows:

-To seek no paid work until my bank balance read zero.
-To work my way back up to a healthy income, without begging, borrowing or stealing.

This meant no overdraft, no claiming benefits and no bailouts.

I thought it would take a couple of weeks, but in fact it took more than six weeks to get down to £0 and two months to work my way back up. I thought I’d learn my lessons during the ascent to healthy bank balance. In reality, that six-week decline was what changed me for life.

This week, I’ll share with you the most important realizations I had about money during the challenge. But to start off, how would you feel if you were on the verge of taking The £0 Challenge yourself? Does the prospect of nothing in the bank fill you with absolute terror and if so, what it is that you fear?

When we know what we’re really scared of, we can address it. That is what the challenge gave me the power to do. Money fears are hard to find the root of since currency can be exchanged for so many things - property/ food / transport / security / luxury or the essentials. What are you really afraid of running out of? Knowing that alone can give you the power to change it.

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from Pause For Thought: BBC Radio Devon, released January 30, 2017

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