1. Please introduce yourself and tell us anything you think it would help us to know about yourself.
My name is Jenna. I am 23 and pregnant with my first baby. I currently work from home part time (20 hours a week). DH (32) has a full time job as a commercial loan officer where he makes good money and has the chance to earn uncapped commission on all deals he does (on top of his good salary). We own our home, blah, blah, blah
Not sure what to say without going into a long story about our lives
2. Please tell us why you have decided to spend nothing (or spend significantly less) for the Month of March. Memorize these goals and recite them to yourself before all purchases.
DH and I have been stupid about credit. We have totally paid off our credit cards several times in the past few years with big bonuses that DH gets and then we charge them right back up again like idiots! DH and I are not stupid people, DH works in the banking industry, we both know what bad deals credit cards are, we just get greedy about wanting something right now, I guess. Well, I have seriously had enough. We make a very nice income and I'm tired of feeling "Where the heck did our money go?". I want to be spending less then we earn, saving (although DH does contribute very well to his 401k) and paying off this totally unnecessary debt. Since I work from home I plan to stay at home, eat at home and not spend! DH has agreed to not spend money on any food out and come home for lunch (which he has been doing this week). Also, DH gets reimbursed for his mileage at work, so its nice that we don't have to worry about gas for his work related traveling.
We are having our first baby in July, its time to start acting like grown-ups, KWIM?
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?
My plan is to not go out. While I do plan to get out of the house (walks around the neighborhood, maybe trips to the library), when I am out, I spend. I also plan for me AND DH to eat all meals at home. I also plan to put away the credit cards I have and only carry my debit card, I am also going to have DH put away his credit card. We actually do not use our credit cards that much but we do not need them, I don't want the temptation.
These are the things I suspect we will have to spend on in March:
"New" car- $6000, I just sold my car for $7250. I want to buy another car for under $6000 and put the remaining money in emergency savings.
Food- $350, this is going to be very very hard for me. I usually buy all organic and local from the co-op. Here in CA food is very expensive and typically I spend about $200/week on food. But I know I can get this down by making some more basic rice & beans meals more often. I plan to meal plan to the max.
Gas- $100 I am hoping to use less then one tank of gas this month in my "new" car due to not driving that much. So I budgeted $40 for me and $60 for DH for his non-work driving (his car gets crappy mileage).
Also this month DH and I are going to try to not use the heating (we live in No. Cal and we really do not need to use it). DH is really more of the one that turns it on but he has been trying to just close the windows and put on a sweater this week rather then turning on the heat.
We have other "set" expenses that I'm not going to detail here because they are pretty set.
I want to keep over $100 in my checking account at all times. There are so many times when DH and I put ourselves on "no spending" because we only have $20 in the checking account. We have about a $3500 month income combined, its ridiculous that our checking account would get that low due to poor spending choices.