Monday, March 2, 2009

No Spend Challenge

I've been inspired by Amy at the MotherLoad and her journey last month to spend no money outside of the budgeted expenses. At the end of the month she had saved enough money to refinance their mortgage.

We have a goal of paying off our van in May, but I'm quickly realizing this is not going to happening unless we batten down the hatches. Of course there are the usual out-of-the-blue expenses, but more often than not money easily slips through our fingers by picking up extras at the store, a quick run through the drive thru, browsing clearance racks and the occasional stop at Goodwill to "just look". I'm sure you know what I'm talking about.

This really is going to be an exercise in planning ahead and resisting temptation. If it means getting rid of our van payment once and for all to give up things we don't really need, it's really not much of a sacrifice. I'm sure my McDonald's diet coke will taste a lot better in a paid for van.

So, I'll be posting quite a bit this month about our successes and failures. I already know that I have a few commitments that will require some cash, but I also have a few gift cards with some remaining value that I think will cover it. Hopefully, in some small way you will be inspired, too.


Tara said...

Inspire *ME* Monica! We had our budget meeting last night and saw some definite blessings. For example, a car repair we'd budgeted $300 for came in at $85. Woo hoo! But, I also need to get down and dirty with the grocery bill where, lets just say it was a good thing the car repair came in significantly under because the grocery bill came in significantly over!

It's a new month. No need for new junk!

eally said...

What a neat challenge! May have to try this when I get back from Hawaii next month. :-)
Good luck!

Brooke said...

Wow, I too am weak and often spend money on cokes- that I really don't need. Hang in there! That Coke will taste better in you OWN. May is just around the corner :) Looking forward to hearing about your adventure!

Brooke said...

As you know I am running low on sleep and I just figured out that last post didn't make any sense. I meant to say that the Coke will taste better in the van that you OWN :)