Tuesday, January 3, 2012

No-Spend Challenge, Jan 2012

Alright, if you haven't heard of Carla's No-Spend January Challenge, I think you should check it out. What a better way to start the new year than with setting new minimum parameters, saving a lot and having fun.

This is the budget I will have to accomplish this challenge:
$120 for groceries for the whole month. I am still unsure if that's too much for a single person.
$80 my misc/personal budget
$100 gas for my car
Total: $300

I've modeled my rules after Carla's, since they're so awesome to begin with:
1. Track purchases. 'Nuff said. This will be done separate from the bi-weekly reports, since it probably won't make sense if I do.
2. Start with the “sealed pot challenge”. I need to find a nice jar/container or make one up and designate some denomination to put in the jar. Maybe $1's or $5's.
3. Menu plan & shop from a list. I've been trying to do that, but haven't in a while. It's a great way to restart.
4. Find free & cheap activities to have fun. Very important.
5. Focus on simplicity, organizing, & donating/tossing. I have a bag of clothes sitting in my room that I've been meaning to do something with. Time to find a second hand store to donate them to. I will also reduce my wardrobe from items I don't use. Last, I have a lot of to-do cool projects I keep meaning to start. I will complete and detail at least 5 of them.
6. Medicines/medical care doesn’t count. I am changing this a bit, due to my situation... I will pay any bill from my parents to avoid the utility getting cut off, but will wait until the absolute last second to do so, and I have to pay 150% back to my EF fund in February. No excuses.
7. No “pre-stocking-up”. I had a scheduled grocery trip on the weekend to pick up bread, butter and fruit. I will still have that trip.
8. Switch to all-cash. This will be just for testing. It will also help with #2.

So it's on! Best of luck to all of us.


  1. This is a well organized set of Goals. I will be following along and cheering you on!

  2. I think $120 is low for one person... Definitely NOT too much! Especially if you eat meat.. Good luck!! :)

  3. Good luck! Let us know how it's going for you.

  4. good luck!!!! keep us updated :)

  5. I think I'm too weak for this challenge. Got something easier?
    I'm sure you can do it though!

  6. It's only Jan. 5th and already my No Spend January goal is in the ditch. I wanted to beef up my EF but instead it will be taking a hit thanks to a faulty hot water tank! I'm just glad the money is there to pay for it!

  7. I know you can nail it Tanner. They are all goals you can accomplish. Best of luck.