For the $1000 Project to work, you need some clearly defined rules. Not boring, party-police rules, though – more like encouraging boundaries that will keep you on track, allowing you to get what you’ve set your head and heart on. You should respect and appreciate them. And this will become increasingly easy to do over time, because you’ll see that when you follow these guidelines, and stick to them in the long term, you benefit from the results: not just financially, but in all areas of your life.

What’s so great about these guidelines is that they’re designed to fit into your real life, allowing you to shape your own approach to the $1000 Project. You shape it around yourself: your personality, spending habits, financial responsibilities, values and activities. The guidelines aren’t supposed to be mean or tough, or to deny you any pleasures. Rather, they help give you perspective, balance and appreciation. So they work for you, instead of you working for them.

These guidelines are what kept me honest, accountable and continuously on the road to achieving my goals for the $1000 Project. They were a serious contributing factor behind me being able to come up with $32 000 over the course of twelve months – something that I definitely wasn’t sure I could achieve beforehand.

The rules I created for myself stopped me from wasting my money, from spending it on short-term gratification in the form of snacks, clothes, make-up, shoes – things that I simply didn’t need (or need much of ) and which wouldn’t add value to my life.

Focusing on my guidelines made me realise that most of the time these were just fleeting desires, which, if fulfilled, were quickly replaced by new ones, never giving me the feeling of long-term satisfaction or fulfilment. And they would create more clutter, distraction and unnecessary responsibilities to add to my already overloaded list.

I tried to cheat once – I transferred $50 from my savings account, as a particular $1000 was taking a long time to finish and I was sitting on $950 in my bank account for what felt like an eternity. But I immediately felt guilty, like I had failed myself, and rectified the situation immediately to redeem myself.

Instead of chasing these temporary satisfactions, every time I found savings, learnt to say no or to exercise some self-control, earned extra money from working in the evenings or weekends, or even sold something, I remembered my guidelines and transferred that sum of money into my dedicated savings account. Each time I did this, I was reminded of my bigger-picture goals, which was incredibly beneficial for maintaining my focus, motivation and, most of all, energy.

By having these gentle guidelines working for me, and knowing that they would give my goals the best chance of success, I felt a deep loyalty to them, especially as I’d invented them specifically for my own situation and capabilities. And this felt quite different for me – I have a bit of a self-destructive, rebellious streak, and I usually hate rules! Tell me what to do, and I defiantly go and do the polar opposite. I can’t stand being controlled. But give me space and creativity to get things done in my own way and in my own timeframe, and I thrive, not just succeeding but increasing in happiness as well. Allow me to create my own rules and guidelines, with a healthy sense of balance and perspective, and I’ll go searching for even more opportunities to generate more success.

By sharing these gentle guidelines with you, and encouraging you to shape your own specific rules to follow in the $1000 Project, I hope to create a similar environment for you to shine with passion and enthusiasm as you work towards your goals. I really believe this is the way to generate the drive to put the necessary actions in place.

GUIDELINE 1: BE MINDFUL WITH YOUR MONEY

The key difference between most repayments/savings/investment plans and the $1000 Project is that you consciously take money out of your cash flow, beyond your standard earning and spending capabilities, and put it to far better use. This is money earned over and above your normal earnings or salary, money saved by doing extra jobs or adjusting lifestyle habits. You make real savings count, and extra money that you earn is made to really add up. And these two things together are what makes each parcel of $1000 grow as quickly and as easily as possible, so you start achieving your goals sooner and feeling excited about your future again.

We all experience savings and windfalls in our day-to-day lives. Maybe a basic product that you buy every day, such as milk or bread, is on special at your local supermarket, leaving you with more change in your pocket than usual. Or the windfall could be as tiny as finding a $1 coin in the street on your way to work. The key powerful action behind the $1000 Project is that you acknowledge and show gratitude for these financial blessings, big or small, and consciously take them and do something great with them, so they truly count and help you to improve your financial situation.

Let’s say you and a friend go out to dinner to your favourite local restaurant, and you expect dinner to cost $50, including a nice glass of wine and maybe even dessert. However, when the bill comes, your friend decides to treat you. Essentially you are saving $50 through your friend’s kind generosity. But I guarantee you that by the end of the week, that $50 saving will have evaporated into thin air.

It will have been used to pay for something else (whether in your budget or not), and suddenly you’re no longer $50 better off – in fact, you may not even remember where that money went. A $4 coffee here, $10 lunch there, $6 juice, $20 dry-cleaning: even the little things really add up. And before you know it, you need to head back to the ATM, scratching your head and wondering where that $50 went and how it went so quickly – and forgetting all about your friend’s kindness and generosity.

However, if you take a second to step back, breathe and appreciate the savings and that moment of relief for your cash flow, then consciously and immediately put that $50 towards achieving your goal, you’re being proactive and triggering a powerful shift in your relationship with your personal finances. The act of simply putting that saving from the dinner into a separate and dedicated account can have a big effect. And remember: that dedicated savings account has direction and intention, because it’s been set up specifically to help you successfully achieve your goals. Every deposit you make adds up: every single dollar.

This is something that I call ‘money mindfulness’ – stopping to take the time to acknowledge, appreciate and proactively do something powerful with that financial windfall, respite or saving, no matter how small or big. This gratitude not only helps you financially but also boosts your happiness, sense of harmony and habits.

As you start to use money in this new and more empowering way, it will make you feel in control and like you’re heading in the direction of the big picture you’ve created. And you’ll get your first inkling of the potential that exists within you to not only achieve this goal, but other bigger and more exciting goals in your future.

Actively feeling and seeing yourself doing things differently – taking charge in the present moment, making progress and achieving your goals, knowing that they will be accomplished and that you can then set new and even more challenging ones – is what makes the $1000 Project so addictive, driving further growth and results.

Each time you reach your parcel amount, it’s like a hit of dopamine. You feel fantastic, in control and proud, and ready to experience the next breakthrough and see what else you can achieve. You find yourself quickly getting back to work on creating your next $1000. Serious momentum builds, which helps keep you charged and on track for success.

GUIDELINE 2: WORK WITHIN YOUR REAL LIFE

As I was going through the $1000 Project, I stuck to my existing budget. I did my grocery shopping as usual, I purchased new clothes when I needed to, I socialised with my friends, I still prioritised my health and fitness and, of course, sacred family time. I lived my life as I previously did, and I didn’t ever deprive myself.

I did, however, go through my budget and find things that I didn’t really need, value or appreciate. For those things, I either reduced them or cut them out completely. When savings were created, I added the savings, no matter how big or small, into the $1000 Project account.

Never did I feel like I was going without – in fact, I learnt to value things so much more. When I did buy new clothes, for example, I found that I got really excited, building up anticipation by working out what I really needed; researching the different shops that I wanted to visit; knowing my budget and sticking to it with respect. Shopping was satisfying again as there were no mindless purchases – and no feelings of guilt. And I appreciated what I purchased so much more and took greater care with those items so that they’d last longer.

Catching up with my friends also became more intimate and fun. I prioritised my time by spending it with the people I really care about, and deepening those connections and bonds further. We ended up doing a lot of entertaining in my home and in their homes, which saved all of us money. And having nights with friends in the comfort and warmth of our homes was so much more personal than being in a busy restaurant or bar. We’d all bring something to contribute to the meal – a bottle of wine, a cheese plate and dips, a salad – which evoked feelings of community and family and love.

I spent a lot of simple nights at home with my son, Rocco, curled up on the sofa together, reading books, watching cartoons, doing colouring in on the coffee table, and even cooking. This gave us quality bonding time, just him and me learning more about each other. It cost next to nothing but made me feel rich beyond all measures.

I used the $1000 Project to focus more on the areas of my life that I value the most, rather than depriving myself of pleasure and luxuries. By making my guidelines work within my life, I gained connections, awareness and intimacy – and all the while, the money in my dedicated savings account kept building.

It’s the opposite to going on a strict diet, where you throw out everything in your life that gives you pleasure. No carbs, no fat, no animal products, no sugar . . . Sure, for a few days or even a few weeks you may survive. But with such restrictive and aggressive rules, resentment builds, followed by exhaustion and frustration – they don’t work within your real life. Then you snap and undo most of your good work and progress as you binge – and then you feel guilty and disappointed in yourself.

The same goes for restriction and control over money. You need a balanced diet, including things that bring you joy (and a few luxuries), matched with sensible and conscious decision-making. If you start from a place of self-love and nurturing, the desire to self-destruct will diminish and results will flourish – and you’ll be able to make changes that stick, rather than just setting up something temporary.

GUIDELINE 3: CONSISTENCY IS KING (OR QUEEN!)

My main rule was that I had to focus on building $1000 at a time, and I had to earn or save this money beyond my salary or existing savings accounts. Every time I earned some extra money outside of my day job, or found a way of saving money through not spending or spending more wisely, I had to immediately deposit that exact amount into my dedicated savings account. It didn’t matter if it was $1 or $1000. The rule was that no matter what I did to earn this money, it had to go towards my big goal, my big vision.

Keeping this rule as my consistent focus meant that I was constantly open to and looking for ideas and opportunities, as these new healthy financial habits became part of my life. I found that once I’d incorporated the project into my regular routine, it became second nature for me.

And checking my $1000 Project savings account every day really helped me remained focused on my goal. It was almost like an addiction; I got more and more excited every time I was able to add something to it and see it grow. I left no stone unturned, and the little savings helped to make the big investing happen.

For example, my frequent flyer program was running a special offer, where if I booked and paid for my flights before the end of that week, they would knock $50 off my airfare. I knew that I had to fly interstate for work in the coming months, so by being proactive and booking early, I was able to save $50 – which I immediately transferred into my savings account. Or if I saved on buying lunch during the week by popping home to eat, I would transfer the $10 savings at the end of the day.

Another advantage of being consistently dedicated to this rule – having the money come out of my everyday spending account and consciously relocating it safely into the $1000 Project account – was that I removed temptation completely, along with all the creative excuses that I could come up with to spend it. If it wasn’t in my account, I couldn’t see it and couldn’t spend it.

When people offered me extra work, which I could do over the weekend, I embraced the opportunity. As with the frequent flyer opportunity, when I was emailed loyalty discounts from my local supermarket, I made the most of the savings and transferred the exact amount that I saved from doing my usual weekly shop. When I was invited to participate in market research, I immediately said yes. I knew these were all great opportunities and that even the smallest amount of cash would go straight into the account, taking me closer to that next $1000. Through these consistent, repeated actions, I made every dollar count.

This focus created a strong sense of gratitude for and appreciation of the flow of money for me. I saw how long it takes to earn money, and the lightning speeds at which we spend it. I learnt to savour my hard-earned money and only spend it on things that I loved, valued, used and appreciated. This really raised my energy and headspace and general attitude towards my life and vision.

Following my rules gave me a rush as well, especially each time I actively transferred the next $1000 into my share-trading account and purchased another parcel of shares, after doing my research into which stock I wanted to add to my portfolio. I could see and feel myself getting closer and closer, and I knew that my goal was starting to become my reality. I was building an investment portfolio that paid me a passive income, one that could eventually give me the financial independence of my dreams.

Even though each increase was only a small percentage, I could physically (and mathematically!) see that I was heading in the right direction, and that gave me the encouragement and reassurance to keep going and to know that I was doing the right thing.

GUIDELINE 4: MAKE YOUR OWN RULES

Your rules for the $1000 Project should be fair and balanced, and they have to come from a good place if they’re going to work for you. You need to appreciate them, to see the value and benefit of them. So you need to set rules that will work for you – guidelines that you’ll value, respect and adhere to. And yes, maybe some sacrifices will be required, but they’ll be your sacrifices, which you’ve chosen for yourself and committed to, and that will make them easier to stick to.

Your rules should help you make your process match your goal. For example, just because I refused to take money out of my salary or existing savings accounts doesn’t mean that you need to do the same. You could have a regular amount that comes out of your salary or savings account, or you could kickstart the $1000 Project with savings that you already have. You can find many ways to earn and save extra money. Then, whenever you earn that money or find those savings, you immediately place it in your dedicated savings account, before it evaporates.

The other rule I used, which you could change, is the dollar amount of your parcels – you don’t need to work towards $1000 at a time. For me, the amount of $1000 felt achievable and realistic for my earnings, lifestyle and spending habits. I knew that focusing on ‘creating’ $1000 would be a challenge and a stretch, but still doable and within my reach. And I knew that if I gave this challenge the dedication and commitment that it deserved, it wouldn’t take me too long to come up with $1000 at a time, so I wouldn’t risk losing momentum and concentration. This is an important factor in working out your parcel size, as you need to see and feel regular, consistent wins on the board to keep you focused.

For some, the amount of $1000 may be overwhelming and even frightening. And that’s completely fine – as long as you have a realistic, achievable parcel size to work towards that you genuinely believe you can come up with, you’ll be ready to go. Your version of the $1000 Project could be the $500 Project or the $100 Project; it really doesn’t matter. This is your project.

Of course, some people will find the $1000 amount too easy, meaning they could get bored before they see the benefits. If this is you, make sure you aim for a larger number, a number that’s still a stretch, so you can grow both financially and internally from the challenge. Again, this is your challenge, and you set the boundaries.

You can also make the $1000 Project simpler if you need to. You might have a rule, for example, just to make sure that at the end of every day, you put the loose change in your wallet into a money tin or jar. Then, when the container’s full, you take it to the bank and put the money towards your goal. You may even want to do this with the notes from your wallet! The point is to make the project’s rules work for you – to make them easy to remember and easy to follow, to help you stay on track.

You don’t need to set a strict time period, either. If you’re someone who finds that ‘due dates’ suffocate you and make you procrastinate, then you can be flexible with the time limits you set. In my experience, deadlines work. And not just ‘in three months’ time’, but a specific date, so you have a definite point in time that cannot be adjusted or pushed forward. This often triggers the panic that many students experience the night before an assignment is due or before an important exam – and this last-minute panic can be very productive! Deadlines help get stuff done, and on time. They make you accountable.

But if you are making great progress with the $1000 Project and your deadline is coming up, you don’t have to stop then, necessarily. These are your rules, so you can change the deadline! If you’re in the zone, capitalise on this momentum and focus and push beyond the deadline to see what further progress you can make. If you keep going, this could become part of your everyday routine, and you’ll keep the principles of the $1000 Project part of your life indefinitely.

When you look at your goals, look at their size, and look at what you’ll need to do to make them a reality. If your goals are very ambitious (good on you!), you should realise that you’ll need a significant amount of action, dedication and time. So your timeframe may be a longer one, or you may want to break it down into discrete bursts of time – just like the principle of breaking down a big financial goal into $1000 parcels.

You may wish to adjust or tweak your rules as you go through the $1000 Project. This is not just acceptable, it’s great, because it’ll mean that you’re learning more about yourself and what you value and what you can achieve. Just so long as your adjustments to the rules are not ways of excusing underperformance!

So, give your goal the best rules and framework you can, and the right amount of time and space in your life. Then go for it! You have nothing to lose and so much to gain, even beyond financial wellbeing.