|I'd have this tattooed on my arm, but I'm trying not to spend.|
1. Please introduce yourself and tell us anything you think it would help us to know about yourself.
I'm Erica, I live in Seattle, and I am a shopaholic. : I'm coming in at the tail end of the month, but plan on being part of the gang full force in September. We are expecting our second child and that is, of course, causing turmoil in or financial lives. I am facing the fact that I need to spend less and spend mindfully if I want to have a better quality of life.
2. Please tell us why you have decided to spend nothing (or spend significantly less) for the Month of August. Memorize these goals and recite them to yourself before all purchases.
We have gone through periods of budgetting well, saving, and staying out of debt, but my husband was out of work for almost a year and we have a lot of credit card debt. I have put off making a budget for the last year because it is so depressing. Without a budget we seem to muddle through okay, but I feel free to put impulse purchases on the credit card and my husband is frustrated with our lack of progress. I feel deprived when we live on a tight budget and then feel like I am entitled to reward myself for my suffering. This becomes a vicious cycle.
My goals are:
Not to add to our credit card debt
Reduce our grocery budget
Recreate my money habits
3. No spending is hard work. You need a plan. Please tell us your game plan -- how do you plan to approach no spending for a month?
--Follow the budget we've created
--Consider additional purchases and, if they are deemed acceptable, make an allowance for them in the budget rather than just putting them on the credit card and feeling furtive. Make the budget work for us as a tool instead of a blunt instrument!
--No more lattes! Drip coffee acceptable if I have cash on me.
--STAY AWAY FROM EBAY
--Seek support in resisting the urge to mindlessly buy things!!!
Today I spent:
$1.60 on coffee
$1.20 on M&Ms
Filled gas tank (acceptable spending)
I will also spend $3.75 to go swimming at the pool tonight (acceptable spending)
$5 on eBay bid I won
Today I also:
Cancelled a $100 Amazon order as soon as I paid bills and realized how little I could afford it.
Saved myself $13 a month by cancelling an online subscription that I can live without.