Carla over at My Half Dozen Daily is hosting a “No Spend” Challenge for the month of January. Lots of different bloggers have joined her on her quest to save as much and spend as little as she can for the month in order to build up her emergency fund.
I have decided that we are going to join her for the month. As I wrote last week, we have a big car repair, so that has to be paid as soon as possible. Thankfully, Carla has said we can make our own rules for our challenge and it can look however we want it to look.
So with that in mind, here’s how ours is going to look:
- No lunches or dinners out, no coffee purchased *(see note “a” below)
- Keep groceries under $225 a week (I would love to keep it under $200 if we can), by meal planning, using what we have in the pantry, having more meatless meals.
- Keep adding all change to the sealed pot
- All excess money that we save from our $400 variable budget will go into the car fund.
- Tracking all spending and use the jars
- Making use of our YMCA membership and do more free activities there
- All overtime will be saved and not spent.
- Christmas money/gifts are exempt (see note “b” below)
- Medical care/expenses don’t count. If someone gets sick and needs a prescription, then we pay for it.
Note A: Andrew and I have to go to the McMaster Children’s Hospital the second week in January. He has a benign bone tumour called an “osteochondroma” and we’re off to see a specialist there. I intend on packing our lunch because we’ll be gone over lunch time, but I also want to be able to treat him to some Timbits and Chocolate milk while we’re out. It’s no fun to have to go see the doctor, and I am not sure what tests he’s going to be put through on that day, so I want to give him a little something to look forward to after the appointment.
Note B: We received a few monetary gifts for Christmas. One those was substantial and half of it will be going to help pay for the car. However, since the money was intended to buy something for us, we are using a portion of it to buy the over-the-range microwave that we’ve been wanting. The other monetary gift was actually given to us for the kids to “make some memories”. It was enough to purchase a Gold Membership for the entire year to the Ontario Science Centre. We might end up postponing those purchases until February, but I don’t want to be in jeopardy of our challenge by not posting that caveat!
To all my fellow No Spend Challengers, we can do this!! Can’t wait to see how everyone meets their goals!