I know usually I use Tuesday’s Tip to talk about a product that I love and want to share. But today I am going to talk about a personal challenge that I have taken on for the month of August. Maybe you will be inspired to use this tip for yourself!
“No Spend” August!
Basically the challenge is as simple as the name suggests…Don’t spend money! I have seen monthly message board threads on this for YEARS in the budget section of the DisBoards.com website. As a matter of fact, HERE is a link to their thread for this month’s challenge. I also heard a “No Spend” challenge discussed on the 7/15 episode of the Dis Unplugged podcast. Sarah over at Thrifty Decor Chick did a similar challenge last month where she vowed to not spend any money on DIY or decor items during the month of July.
The “No Spend” challenge can be different things to different people. You can make up your own rules. The only unifying rule is that you push yourself to not spend where you would have otherwise spent, and to stop and think before you do spend. Isn’t it so true that, with debit cards readily available and accepted everywhere, it’s so easy to just spend without thinking? This challenge will make you stop and think: “Do I REALLY need that thingamabob?” or “Can I wait awhile to get that whatchacallit?” Mindless daily spending can really add up!
Our goal is that we are going to try not to spend any money on at least 18 out of the 31 days in August. We are trying to be realistic based on the fact that I am going on a trip during August, and we have a few events that we are scheduled to attend that require spending money. Plus, of course we need groceries and gas, although we are going to do our best to spend wisely on the days where we do have to spend money. We have also decided that paying bills and highway tolls do not count as spending for the purpose of this particular challenge.
Lately our biggest culprit has been going to the grocery store too much. We have been going several times each week with a specific item or set of items in mind, and every single time we end up with way more than we intended on getting. Spending $30-$50 a few times per week can really add up! Before we started the challenge, we went on a big grocery shopping trip with the intention of making it last two weeks without having to go back. I used coupons, purchased carefully, and we ended up with an overflowing cart-full of groceries for $98.95. Whatever we ended up with is all we are getting for two weeks!
Wish us luck as we embark on this challenge. I hope we each learn something from it, and save a significant amount of money while we are at it. If you do a challenge, let me know! Maybe we can keep each other accountable.