Friday, January 2, 2015

January No Spending Month Challenge

I decided thar January is going to be a "No Spend" month. This has come about mostly because I realize that no matter how much we make, we always spend it all plus some. January isn't a great month in the restaurant industry anyways but mostly I want to get out of my families consumerism spending habbits and get more self control (and yes hubby is on board).
So a budget is necessary (which is probably my biggest challenge because I have never been good at adhering to one). But more importantly is the challenge to stop spending small amounts, also known as the "latte effect". You know, the cup of coffee, the fast food, window shopping trips where you buy just one thing, etc....

What this includes:
rent
car payment
auto insurance
gas
electricity
groceries
diapers
phone

What this does not include:
entertainment
eating out of any kind
clothing
toys

I am sure i am leaving something out, but basically I am suspending all nonessential purchases until after January.

I am already a day in and this is how it had gone so far:
I borrowed a book I have been wanting to read (save $20)

Yesterday I forgot that January had started and split some food after work with a friend (-$7).

Next week will really start the challenge because I won't be at work as much and will have more time to think about spending. But I also plan to spend this time finishing orders for my etsy shop and menu planning.

I know many people think about taking on this challenge and are not sure if they are truly able, myself included. I will keep you updated throughout the month. I will share my biggest challenges and the lessons I learn.
I'm excited and a little nervous whether I can truly stick to it, but mostly excited!

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