Friday, January 2, 2009

Happy New Year, and a No Spend Challenge

I took some time off this past Christmas season to be with my family. I hope everyone that reads my blog has done the very same. I want to go back to a topic I started earlier in December about saving money. It is very true our economy is in a recession and how we got where we are, can be blamed on a number of factors. One factor that effects everyone is our own personal spending. For too long many of us have lived beyond our means, we relied on credit to pay bills, make home repairs, buy a new car. You name it someone has probably paid for it with Credit card.
While I consider myself frugal in many ways, and my DP ranks pretty high on the frugality list, we too are known to spend money we truly shouldn't be spending. I am making it my personal challenge this month to spend as little as possible, and have even challenged many people to a "NO SPEND" month. Its a bit of diet for the bank account, but rather than losing we want our bank accounts to gain.
In this particular month we have a birthday, two cars that need repairs, plus state inspections, and not to mention the last hanging holiday get together that must have food bought. Why would I put myself to a No Spending Challenge if I there's no possible way to go without spending money? First of all to see how well I can actually spend money on necessities, and number two to quit spending money on things I usually waste money to buy. I am notorious for spending "Just $2 on Coffee", and Just $10 at the dollar store, and buying things for the house that shouldn't be bought. One expense that I am keeping in check this month is our Homeschooling bill. Seeing how much I love doing Montessori in the home, I can spend about $50 a month buying supplies. Its not that I Need the supplies, its just in that moment of inspiration when I see them on the store shelf that I buy them. As a result I have nearly two cabinets FULL of supplies. I have made a personal commitment to not buying any more supplies this month.
My other pit fall is expensive food, and this includes buying take-out. I don't know how many times I have been too lazy too cook, and too tired to hear the complaining from the kids about what's for dinner. Not this month though, I am doing everything in my power not to eat out under any circumstances, no even for my DP's birthday (We'll be having a steak dinner, if I can find steak on red label special)
Day one of my little no spending adventure cost me a grand total of $37 plus gas. We went to visit one of my DP's co-workers, and rather than showing up empty handed I came bearing tons of food. This is a trade mark of mine, I HATE showing up anywhere empty handed, and being a bit old fashioned I certainly had to impress my DP's co-worker if "All" I do is stay at home.
Today is day two, and so far I haven't spent any money, in fact after coming home from the grocery store yesterday I gave DP our debit card for safe keeping. We do have plans to go out of town for several days, and we have set a strict budget for this particular trip. The way I see it if I can figure out a way to spend as little money as possible on a three day trip I probably have something to brag about it once the month is over.

I am sure readers are wondering; If you aren't spending money this month, you'll probably just move on to next month and spend the money you save.". That's not the plan at all, personally I am hoping to figure out where it is that I spend too much extra money to begin with, and i hope to figure out a way to motivate myself away from expensive convinces like fast food and coffee house coffee.
I have challenge for all of my readers to try and not spend money this month. This doesn't include not spending money on essentials. We have to have food, water, lights, gas in the car ect. However, there's plenty we don't need and that' s where the no spend comes in this month. If any thing keep a diary of your daily spending. You might see some shocking truths about your spending behavior.

Good luck