Tuesday, December 10, 2013

2014 Money Saving Challenge

As 2013 will soon be coming to an end, I am already looking ahead to a new year and new goals, particularly in the area of our finances. Here are my goals for 2014:

~ Save $25 from each paycheck (mine & DH's) @ 6x/mo. = $1,800/year

~ Save $25/month (minimum) in Christmas Club = $300/year

~ Pay off our two credit cards totaling $2,482.99

~ Track all spending

~ Reduce monthly utilities amount
   * reduce water usage
   * set thermostat lower in winter/higher in summer
   * keep sun room door closed
   * unplug cell chargers, etc. when not in use
   * shut down computer every night
   * new weather-stripping around doors
   * change filters monthly for central heat/air
   * buy compact fluorescent bulbs

~ Trim grocery budget to $500/month ($125/week for family of 5 plus pets)
   * shop sales paired with coupons
   * no fast food
   * meal plan each week
   * bake goodies for snacks
   * cook from scratch as much as I can
   * easy meals for days I work
   * plant a small container garden in the spring
   * add to stockpile a little each week

~ Shop throughout the year for gifts
   * give handmade gifts

~ Shop secondhand shops for most of our clothing
   * shop sales for new items needed
   * accept hand-me-down clothing in good condition

~ Look for free entertainment for family outings and fun
   * community events
   * zoo membership
   * beach days in warmer months
   * free museum days
   * walks on nature trails
   * state and city parks
   * visit the library for books, movies, video games
   * movies/tv shows via Netflix
   * play pool (we have a pool table)
   * board games
   * throw darts (need to buy an inexpensive dartboard to replace     our broken one)
   * visit with friends and family

I'm sure there is much more I could do, but this is all I could think of at the moment! Feel free to leave your ideas & suggestions in the comments. 

I look forward to hearing from you!


Cash Only Living said...

Those are great goals! Im going to have to borrow some of those as well, especially the cutting grocery/eating out costs and looking for free entertainment.

Precious said...

Hi Tracy,

You are all planned and ready to go for The Money Saving Challenge. WooHoo! I am excited. Great goals you are working on.

Urmel said...

Sounds like, you are ready to go and great goals. 2014 can come!

gotthisfar said...

Oh, what a great idea! I must come up with an action plan of how I'm going to save more money in the new year :) Thanks for the inspiration!

~Carla~ said...

You have a great plan of action and mine is very similar! I hope to build up our savings in 2014 and stay under budget with the increasing cost of "life" lately! I'm hosting a January no-low spend challenge to kick off the year, please feel free to stop by as i'd love for you to join in as well! :) Great blog, plan on reading up! :) Blessings!

Laurie said...

Lots of great goals Tracy!
I want to expand our garden this year and hopefully do more canning. That has really helped save with our groceries. Food seems to be the biggest expense, that and electricity, especially in the summer!

We always make our goal for the new year to pay off our credit cards when we get our income tax back.