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~ October No-Spend Challenge ~ The treat is having money in the bank. The trick is keeping it...

post #1 of 350
Thread Starter 
This is a support thread to help you ~not spend your money~.

Everyone is welcome to join and you can start tracking your spending at any time. It doesn't have to be October 1st.

The plan is simple (although tough to execute):

1. Vow not to spend any money on unnecessary purchases.

2. Come on here everyday and record your spending.

We all record our spending in different ways. There are no rules. You record and update however you would like -- pick a way that will help you spend the least amount of money.

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

Please write an introductory message when you decide to join our thread. We would like to know:

a. Who you are

b. Where you are going (your financial goals) and

c. How you plan to get there

Good luck MDCers!! Keep that money in your wallet.
post #2 of 350
I'm really looking forward to joining this challenge. I just read a book called "Spent", that literally changed my life. It talks about how, if your parents did not have a healthy relationship with money, more than likely you will have problems with money - which I do.

According to the book I am an indulger, which means, try as I might, I find reason not to stick to our monthly budget. I have always argued with my husband about my refusing to make a list when I go shopping - I tell him that with five kids aged seven and under, it's much easier for me to remember everything in my head than taking the time to write it all down. But I now realize that not having a list means I have no restrictions for what I buy.

So my goal for October is to create a healty relationship with money and stick to our budget and fight the urge to impulse shop!

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post #3 of 350
Thread Starter 
That sounds like a good book. I'll have to see if I can get it at our library. My parents were awful with money.
post #4 of 350
I'm in! I am also going to try to keep my grocery bill to $600 for a family of five. Wish me luck!
post #5 of 350
I'm joining in! We had all the credit cards paid off and after some car repairs and DH not getting reimbursed for his MBA classes this summer we're right back where we started. I'm trying not to dwell on it too much and just focus on our goals moving forward.

My goal this month is to keep our grocery budget under $500 and not to eat out at all (which would be a HUGE accomplishment for us). I hope that by tracking all of our spending this month we'll be able to set up a budget and figure out how long it's going to take us to pay of the credit card. We really need to get this debt paid off and some money saved up!
post #6 of 350
a. Who you are
Noelle

b. Where you are going (your financial goals)
We have no debt at all, and have been struggling to bounce back from a bank error that drained us of $1,000 we didn't have to spare (f-u Chase Bank - we are now with a credit union since Chase refuses to own up to reposibility for their system not doing a scheduled funds transfer until a day after all our bills went through, resulting in tons of overdraft fees, then NSF fees for not having the money in that account for the overdraft fees, leading to more overdraft fees, to the tun of nearly $1,000, though the money wasin savings where it should NOT have been) on top of moving on top of a bunch of other unexpected but unavoidable expenses.

Our goal is to be completely back above water this month, and to start socking away a little bit again.

c. How you plan to get there
I have written up a budget clear through next summer accounting for rent, cell phones, utilities, $100 every two weeks for gas (takes a little over 2 gallons a day for my fiance to get to and home from work), and $200 every two weeks for food and all other incidentals (pet foods, toiletries, etc.). There is nothing in the budget for entertainment or other spending, which will only happen if we save it out of that $200. I overestimated on utilities costs (I estimated them at $250 for electric and gas, but when we got our electric bill yesterday, it was only $40!!), and underestimated what to epect to come in. Anything over what I estimated coming in goes right to savings. Anything under what I estimated going out goes right into savings.
post #7 of 350
We are a family of 8 with a baby on the way.

Our financial goals for October include completely paying off a hospital bill, getting and staying current on the rest of our bills, and putting away $500 towards our emergency fund.

I plan to get there this month by sticking to our written budget- no excuses!

=No Spend Day!
=No Spending outside of Prewritten Budget
=Unnecessary Spending
=Not Budgeted but Needed

50.10/566.10 Paid to Hospital
20.00/500.00 To Emergency Fund

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post #8 of 350
I joined last month and did fairly well, but got lazy and stopped posting.

My goals for this month is no takeout/cut our grocery billand try and get some holiday things done as cheaply as piossible..
post #9 of 350
Will be joining, need to post details later when I finish posting tallies for September. We met our goals for September and seem to be doing pretty good staying on track.
post #10 of 350

I'm in....Again

After a few months off I jumped back in mid month in September...Thanks for the motivation Prudence

I am Kristine WOHM to 3 girls.

My goal this month is to get better at budgeting from week to week.

I plan to get there doing a monthly budget as opposed to a weekly one. Oh and trying not to buy food when I am at work
post #11 of 350
I'm going to join again this month.

I'm Allyson, ft wohm with 2 boys and a part-time working, school-going dh.

We have 2 credit cards (we had some house issues and had to break down and use them) we'll be paying off and then just sticking to our grocery budget. We're going to take the money we were paying on the cards and put it in savings.
post #12 of 350
Oh, I love a no-spend challenge.

Big savings goals this month! We have furloughs coming and need to beef up the savings safety net. Busy month -- we have a birthday, a trip to Vermont to see friends and Halloween to contend with, so I will need this thread to keep me motivated and focused on my goals.


2250.00 savings (extra paycheck this month)
600.00 groceries
100.00 ds's birthday/Halloween
post #13 of 350
I'm Nina, a.k.a. Libby's mom. It's our last two months of two-income life since I'll be on mat leave after the babe, and we really should have more saved than we did over this pregnancy. We went on vacation and bought some furniture so we could move DD into what used to be the den, one major car repair later and now we *must* stick to the budget this month. We also need to come up with $$ for the doula and find a secondhand bassinet and chest of drawers for the new baby.

The plan: Well, the name of the thread really says it all, doesn't it? No spend!
post #14 of 350
I'm back again, and this time setting some reasonable goals which I will achieve this month. Bring it OCTOBER!

Goals:
12 - "no spend" days
3 - Eating Dinner out days
Spending Goals:
500.00 for groceries
100.00 for halloween spending

Key:
- no spending
- budgeted spending
- unbugeted spending
- unbudgeted & emergency spending
post #15 of 350
Quote:
Originally Posted by _ktg_ View Post
I'm back again, and this time setting some reasonable goals which I will achieve this month. Bring it OCTOBER!

Goals:
12 - "no spend" days
3 - Eating Dinner out days
Spending Goals:
500.00 for groceries
100.00 for halloween spending

Key:
- no spending
- budgeted spending
- unbugeted spending
- unbudgeted & emergency spending

I like your key and think I will use it too! I like how you set a limit to Halloween. Does this include class party, decorations and costumes?
post #16 of 350
Quote:
Originally Posted by maggiemae View Post
I like your key and think I will use it too! I like how you set a limit to Halloween. Does this include class party, decorations and costumes?
awww! *blush*, use away!!

My limit for Halloween does include decorations, costumes (for me, DH, & DS1 - DS2 has a costume courtsey of DS1), along with candy. We have some decorations from previous years, and we're planning to make some more this year too. I'm really wanting to watch what we spend on candy because its always too much, and DH often thinks we'll run out, buys more and then we have it just laying around the house (bleh!)

Luckily for us DS isn't in school yet (3 y.o), but I could easily see in the future it will have to include class parties and etc. Oh boy, my head is already starting to spin thinking of what that will entail!!
post #17 of 350
I'm in again!

Who you are: Aileen, married to dh, 5 stepkids (two of whom are with us part time), one daughter and two little grandchildren.

Where you are going: I've got my EF set up. Long term goal is to add to it. We also have additional medical bills from dh's surgery earlier this year that KEEP POURING IN!!!! I had just started to put my direct deposit on hold so that I could pay off my cc early. Another goal is to get the car loan paid off early but that will have to be put on hold until next year. Also want to build up retirement savings.

How you plan to get there: Continue watching my spending and cutting back where I can and adding the savings to our accounts. As the cc and car loan get paid off I want to roll those into savings also.

Legend:
Budgeted spend
No spend
Unplanned spend

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post #18 of 350
1. Renee, part-time RN who wants to work as little as possible. Live with my one year old boy and his daddy.

2. Save as much as possible to stay home more and pay debt so we can move cross country before my son starts school.

3. Watch what I spend. Strict budget including putting part of my pay directly into a separate account as soon as I get paid. Keep the checks and debit card for that account at home at all times.

No spend

Unplanned spending

Planned spending
post #19 of 350
I'm going to jump in here, although "no-spend" sounds really, really intimidating to me.

I'm Charlotte, a midwife and mama to 3.5.

My DH is changing jobs this month to a better position that pays about the same as his most recent pay level, which was raised about a month ago. Now he makes enough that we really "should" be more comfortable than we are, except for a long history of not making much money and mismanaging what we did have. We are taking a FPU class and our goal this month is to stick to a budget, which will eventually help us catch up on the things that we are behind on or have been putting off. For me, the tough part of the budget is going to be trimming the eating out and the unplanned expenses. I'd like to not spend ANY unplanned money this month. His first of the month paycheck was deposited today, so today begins the month for us.

Here's my key:
No Spend Day:
Planned/Budgeted Spending:
Unplanned Necessary Spending:
Unnecessary Spending:

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post #20 of 350
I am Vicki, have 4 girls, I did this last month, and am so proud of myself! Spent $1163 LESS in September than the month before.

My goals--Short term goals right now, and additonal $1000 in savings by the end of the month. Pay off 1 small credit card.
How I plan to do this....
Not eating out!! Once or twice a month for DH and I to have a date night, all of us out to eat only when "kids eat free". Buying necessities and really thinking about purchases outside of necessities (will wait 24 hours for anything over $10), "gasp" cutting out my paper towel addiction- been doing great on this. Having at least 2 no-drive days a week.

My key:
No Spend
No Driving
Budgeted Spending/Necessities/Thought Over Purchase
Unnecessary Spending
: Exercise Day
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Mothering › Mothering Forums › Natural Living › The Mindful Home › Frugality & Finances › ~ October No-Spend Challenge ~ The treat is having money in the bank. The trick is keeping it there.