Where does the time go? Do I say that a lot?! 🙂
I’m taking a month off from my “low-spend” challenge, at least on paper. I’m going to continue the mindset but will take a break from the actual logging of {almost} every expenditure.
I’m doing two other things that I think will help foster better financial habits…
(1) Debit Card Challenge
(2) Pantry Challenge
Pretty self-explanatory, but I’ll briefly outline the goals. Please feel free to join me ~ I’d love to hear YOUR experiences in the comments.
(1) Debit Card Challenge
I don’t carry cash typically, but I was without a debit card for a couple weeks a few months ago, and I carried enough cash to survive AND I spent a lot less money. I’m keeping an envelope with $20 in my console, so I’ll always be able to get some gas in an emergency. (In addition to this, I’m keeping an empty water cup in there too, so I can always get free ice water anywhere I go.)
If I am going out to buy something specific, then I’ll take a check (if possible; some stores don’t accept checks) or cash.
My kids love their impromptu snacks…and I’m putting that responsibility on them. They get a fairly generous allowance and can earn more by doing extra chores. In the past I’ve paid them “on credit” where I would tally what I “owe” them and then use my money (or debit card) when they wanted to buy things. I’m switching to a cash-based system for them too; if they want a soft pretzel or a soda or a candy bar, they can buy it with their money Of course, this won’t extend to family outings, but rather the “can I get a pretzel?” on days we’re out and about running errands or going to lessons. I think they’ll learn a thing or three about managing their $$.
(2) Pantry Challenge
This challenge is all about using up food that we already have on hand, rather than buying more. I realized when I put my groceries away last week that the pantry was already pretty full. It was a challenge to make everything fit, and there was no way to have it as organized as I’d like. Same goes for our fridge(s). Of course this isn’t a no-spend challenge because most people would have to replenish things like milk, eggs, bread, produce…but the idea is to not buy more cans, boxes and pantry staples, which probably requires some extra thought and planning. That’s a good thing because one of the goals is to become more mindful. It also saves $$, since it won’t be necessary to buy as much. And for those who store extra food intentionally in order to be prepared in a disaster situation ~ more power to you! This is more about unintentional overspending on food when one already has plenty. I always keep a club-sized bag of rice and another of beans on hand…and we always have at least 2 extra 5 gallon bottles of drinking water, and an extra tank of propane for our grill (which also has a burner for easier pot cooking). I’d like to add some dehydrated “prepper” foods to this little stockpile as well. But not this month. 🙂
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