Monday, November 24, 2008

Spending Fast

Doug and I read this article a couple of months ago in the Reader's Digest that really piqued our interest...A family decided to go an entire month without spending any money, except for things like bread, milk, and fresh vegetables. Also gas, but they budgeted "X" amount of dollars, and tried to ride their bikes as much as possible. I think they had like $100.00 for the month for these "necessities."

They ate what was in the house, in the pantry, freezer, etc. They didn't go to any movies, visit Starbucks, rent movies, go grocery shopping, stop and buy a pack of gum or a magazine, nothing.

Doug and I have decided to take this challenge in January. I keep saying that we have a budget, every penny is accounted for, yet we always spend more. SOMETHING always comes up... vet bill, new tires, whatever. And we're trying to pay cash for everything, but that's tough! We are working toward being debt free (other than our mortgage) in 4 1/2 years.

Anyway, the couple who did this spending fast ended up saving almost $2000.00!! Now I know we'll never save that much, because we don't do things like spend $3.00 on coffee every day, go out for dinner very much, go to movies and stuff. But we are going to tighten the belt, and eat what we have in the house, and not buy ANYTHING. I'm excited to see how much we can save, and hopefully find ways that we are able to save more money each month.

Something to think about! We aren't doing it in December because of the holidays. And starting a New Year with a new plan seems appropriate.

I will keep you posted on our progress!


Joanna said...

I'm thinking you might need to help me with this one.

Kerri said...

Don't get me wrong...I'm freaked out. I was looking back at the article and they didn't buy GASOLINE either...However, Doug can't ride a bike to work in January. He doesn't even have a bike! I'm excited see if we can do it.