No Spend Challenge
I am thinking of trying a no spend challenge. I first read about this on a mom web site:
www.momadvice.com Amy basically offers up that you can spend money on groceries but nothing else.
I am one who loves bargains so I'm not sure if I could spend absolutely no money. I know that I can certainly be frugal when I want to be. I used to track our expenses through Excel-this was way before baby and I still had a job-so two incomes.
This to me seems kind of extreme to spend no money, so the other converse I thought of trying is still equally as difficult.
The other challenge I heard about was from Suze Orman. She recommended saving one whole income if there are two incomes. Or if there is only one income by banking half of the income.
This is in part because of just wanting to appreciate what I already have. The other part comes from the fact that we now have a car payment (yes our car came in). And there is just joy that comes from just finding good deals and saving money and having the security of money in our bank accounts.
So this weekend we are already in the positive. I sold something on ebay that we will never use. Next week I plan on taking in some summer clothes to a consignment store that has been sitting in a closet waiting for me to lose the weight so that I can fit into the outfits again (actually, I think some of the outfits never actually fit but I hoped that I would fit into them).
www.momadvice.com Amy basically offers up that you can spend money on groceries but nothing else.
I am one who loves bargains so I'm not sure if I could spend absolutely no money. I know that I can certainly be frugal when I want to be. I used to track our expenses through Excel-this was way before baby and I still had a job-so two incomes.
This to me seems kind of extreme to spend no money, so the other converse I thought of trying is still equally as difficult.
The other challenge I heard about was from Suze Orman. She recommended saving one whole income if there are two incomes. Or if there is only one income by banking half of the income.
This is in part because of just wanting to appreciate what I already have. The other part comes from the fact that we now have a car payment (yes our car came in). And there is just joy that comes from just finding good deals and saving money and having the security of money in our bank accounts.
So this weekend we are already in the positive. I sold something on ebay that we will never use. Next week I plan on taking in some summer clothes to a consignment store that has been sitting in a closet waiting for me to lose the weight so that I can fit into the outfits again (actually, I think some of the outfits never actually fit but I hoped that I would fit into them).
posted by Princess at 7:08 PM
2 Comments:
I used to track our expenses with excel too, before baby. I thought I'd be able to keep that up after baby but like many things, I was sorely mistaken! That sounds like a tough challenge, whether you spend none or bank half. But a great way to be aware of what you need vs. what you want.
Let me know how it goes, sounds like a good challege. What one wants vs needs is a big eye opener. I just started putting our budget in Excel. Hopefully this will help get a little extra money put back. Good Luck!
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