Friday, July 29, 2011

August - No Spend Month Challenge

I am feeling the urge to have a no spend month.

We have gone off track with our spending. Severely off track. We have gone over budget on many categories, had multiple unexpected bills and have just plain become lazy with our finances. I thought I would track our spending and buckle down in July but we didn't. Instead, I felt so behind that I think it pushed me further into spending more money. Why is that? I figured "well we are already over budget, might as well buy xyz too."

So after speaking with the man of the house we have decided to have a spending freeze for the month of August. Here are my thoughts.

1.) We will continue with our monthly allowance. The hubs enjoys lunch with the guys on Fridays and I enjoy garage sales and donuts with my boys on Fridays :) I can't take all our enjoyment away!

2.) I will allow one night that we can go out to dinner. This is really an expense we can not afford. There are just way too many of us to eat dinner out and not spend a small fortune.

3.) We are going to utilize parks, free field trips and my gifted memberships to local attractions for entertainment for the month. Our budget for entertainment will be $70. This includes our dinner out too since we can easily spend $50 for dinner alone.

4.) I actually went to Sam's club today and stocked up on some necessities so my pantry is well stocked. Between my pantry, garden and meat and fish in the freezer I really should not have to buy much other than milk and fresh fruit. I am wanting to can corn this month as it is in season so there will be a little expense on that. I am hoping to come in around $200 for the month on grocery costs.

So that is my story. I told the hubs I blogged about it so now we have more than just ourselves keeping us accountable! I will be updating on how we do every Friday for the month of August. What do you think? Care to join in? Leave a comment if your interested and I will add you to future posts so readers can check in and see how your doing.


  1. Best of luck! I attempted a no spend month for the month of July, and failed. I hope to try again in a couple of months. Hopefully I will learn to set more realistic goals. :)

  2. We need to set our budget and stick to it this month as well..Where our income changes every week I made our budget where we need to make x amount each week..Whatever else we make will be half saved half put in a spending envelope for when needed..Im on board for the weekly updates

  3. What is a 'no spend month' exactly? Is it budgeting in advance for a month and sticking to it or is there more involved?

  4. Jeroen, a no spend month for me is spending nothing unless it is absolutely necessary. I lowered our entertainment and grocery budget for the month. I try and stay out of the store for the month. It is just a way we try and jump start our savings account and get our spending back under control. You can make up whatever rules you want.

  5. I commented on fb, but I thought I should do it here. I want in! I started Sunday and I'm doing good.

  6. Yay Crystal! Look forward to seeing how you do!

  7. I try and stay out of the store for the month. It is just a way we try and jump start our savings account and get our spending back under control.