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.

8 comments:

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

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

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

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

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

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  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!

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

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