Wednesday, January 29, 2014

No Spend February

For the month of February, I am challenging myself and my family to a no-spending freeze. The goal is to only spend on necessities in an effort to get credit card #1 paid off as quickly as possible! This is going to take self-discipline and self-denial and I expect there will be many lessons learned in the process. 

What we won't be spending money on:
~ alcoholic drinks
~ fast food
~ snacks
~ soda
~ clothing
~ gifts
~ items for our home
~ entertainment
~books or magazines

How are we going to accomplish this?

* Stay out of the stores. The less time we spend in the stores, the better for our budget!

* Meal planning will be vital, as well as bulk cooking and baking. The more I can make from scratch, the cheaper it will be. I am not starting this challenge with a well-stocked pantry/freezer.

* Instead of giving in to an impulse buy, we will add items to a list and will re-evaluate after our no-spend month is over.

* We will use what we have instead of buying more stuff.

* I will continue tracking every cent we spend and will give a weekly update on Fridays.

Who's up for this challenge?


Rhonda said...

You can do it! It will take planning and doing, but you are a smart girl and already know that :)

Cash Only Living said...

Great goal! I will probably be joining you as we spent way too much during January.

Lilac Dreams said...

I will enjoy watching your pot and cheer you on, but Feb will be a high spend month for me, 2 Grands Birthday,DS Birthday, DS Birthday dinner, And a week end trip out of town. My medication is also low so I will be spending there.

Ways I will be saving in Feb one of the Birthday gifts has been ordered via amazon using gift cards earned from Swagbucks and other ways. Good luck, I know you can do this!!