Well we are in Chapter 3 of 2018…already! How did your February go? I did well in some areas not so well in others…..
I went $16 over budget on food which is pretty good for me because the is a category I ALWAYS go over in. I’m debating implementing a more liberal budget but at the same time I think $50 a week for one person on food is doable. Especially when I am accelerating paying off debt. I’m using Mint as my “virtual cash envelopes”.
So I decided to have a No Spend March…this will be extra challenging because not only does March have 5 full weekends ( more opportunity for money spending fun shenanigans) but there are THREE PAY PERIODS this month. And an extra paycheck is super tempting when you are a food hound and clothes horse like me but I will stay the dumb student loan pay off course! My goal is to put at least $1300 toward my student loan debt this month and I know that just seeing that balance slowly dwindle will give me more motivation to keep going.
Budget Pain Points
As you can see, I went crazy on clothes and shoes! In my defense, I did buy a few wardrobe necessities as I gave away a lot of things in an effort to create a capsule wardrobe (which I love so far, more on this later!). My rent is very affordable right now as I’m renting out my friends basement while I save for a home and pay off debts. I don’t have a “Tampa Trip” budget for March so I’ve eliminated that for March. I’d like to continue saving where I can.
No Spend Month Rules:
I) I am only spending on necessities:
FOOD – no eating out but if do grab something on the street, it’s coming out of my grocery budget!
BILLS – cell phone, student loan payments and storage unit rental
PERSONAL CARE ITEMS – this includes expenses for laundry and I am making my own detergent this month that should last me at least 6 months!
TRANSPORTATION – and this is only for my travel pass to work
PET CARE – Food and Litter for my tuxedo Maxwell
So far I’m really liking the no spend challenge because there are no gray areas on what to spend on and how to categorize “misc” expenses….cause there are none lol.
Do you guys have tips for how to have a successful No Spend Month? Please share your advice!