No Spending Challenge
Are you ready to take the “No Spending Challenge” with the Peterberries?
This past year, our family have been very focused on finances. It all started by reading this book by Dave Ramsey
Dave Ramsey really changed the way we have thought about money. Since reading this I’ve allowed us to combined expenses and we’ve started to track our spending and put it into categories.
But that’s for another blog, this is about a “No Spending Month.”
I stumbled on the idea probably from someone who liked it on Facebook. We have used Ruth’s 31 day challenges.
This time however, Ruth isn’t offering a No Spending Month for free. But our finances are maxed after redoing our kitchen and Christmas, so “You MAY Not Spend” month it is. We are hoping this helps us to get a month ahead on our bills so we can start paying with money we have ahead of time, instead of relying on our checks to pay for what we have already spent.
How to do a No Spend Month
First, agree on your family rules. Here are the three rules we have:
Peterberry Rules to a No Spending Month:
- No grocery spending, except for staples. For us that means if the baby NEEDS food we will buy him some and we will continue to stock milk, eggs, and fruit. The rest of the time, we will eat out of the cupboards and freezer. It requires some creativity, but it will help use up those dusty cans of green beans no one has touched.
- No spending out. Say good-bye to Starbucks for me and hubby has to resist the MC-Mind control that sausage McMuffins have on him each weekend. It’s only a month! That also means getting creative on Entertainment… stay tuned for updates on what we do as a family for free. I’m thinking game nights, old movies, puzzles..bring back the classics. We do have one gift card I received as a gift from my classroom so if we feel the urge to eat out, we will allow ourselves that.
- No visits to the shopping mall or any other things. Besides bills, there is a freeze on our credit cards.
** Our only exceptions to these three rules are things we agreed to ahead of time. We are signing Avery up for a summer activity and Mother’s Day and Teacher Appreciation gifts are that month. Otherwise, we will have to just do without. Also, things such as medical, mortgage, and gas are still going to get paid. But all the frills are gone this month.
So, what do you have to lose except debt? Try a week or month of No Spending with us and see how far your money can take YOU this month!