Friday, October 26, 2012

The no-spend day challenge

Where does all our money go?  I ask myself this all the time. KingK and I are have decent jobs, we are comfortable. And yet, as the month goes on and I see the state of bank account, I am always surprised. Where the heck does the money go?  We pay our regular bills and all but we should have more left over by the next payday than we do.We don't make big extravagant purchases. no new electronics or furniture or big renovations or anything! Neither of us really do much shopping each week other than for groceries and the odd thing needed around the house. We don't have extensive wardrobes and nor do our children. We have what we need and it's fair quality stuff but nothing crazy expensive. We aren't extravagant with the kids either. They have what they need and on holidays and birthdays get decent gifts but not a ton of spending in between really.
So... I have been throwing around the idea of tracking our daily spending and have talked the to KingK about it. We have established a dollar value we think is very manageable to get through the weeks between paydays. I have set it in an account that will only be used for this purpose. The amount of money we decided on is in this account and there is nothing more in it. That is our monthly spending money. Our bills and house costs will come out of a different account.  And we are really going to try and stick to it because I have a really good idea where the cash is going each month. No different than many people out there I am guessing. Silly little spends that really add up! Little trips into the convenience store on the way to work for a drink and a treat. Stopping again on the way home for something we totally didn't need. And eating out for lunch a few times a week and more than necessary dinner's out as well. We don't eat out for dinner a tonne but more than we should. Going to the grocery store without a list...never works well for me either. Plan ahead. I used to be so diligent with it, what happened?  I always overspend when I don't go with a list! So basically, our laziness is costing us money. And it needs to stop. In addition to keeping track of the spending, budgeting our monthly spending and putting it aside from our regular monthly bill money, I have also decided to challenge myself and KingK to no spend days. Days we spend no money at all! It can be done, I have my share of these days but would like more! So, here's my idea. Plan a weeks worth of meals and snacks and buy all the needed groceries for the week so I am not stopping at the store at all during the week, for anything! This includes the drinks and little treats we may be tempted to stop at the local 7/11 to get while driving by. Everyone knows they are up charged at the convenience stores and cheaper at the grocery store anyway! Fill up the vehicles with gas on Sunday so we have gas for the week. Anything I can plan for a week at a time I will. And then, the challenge. Have more no spend days in a week than spend days. I am excited! I know I can do this a need to get KingK excited about it as well. No spend days will be awesome for our bank account!

Could you do it? Do you do it now? Want to take the challenge with me?

Here's to lot's of no spend days!!!

1 comment:

  1. This is a great idea - I will have to talk to Hubby and see what he thinks!


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