This is a 1st for us, but we are excited for the challenge (and the savings). How did I come up with $100, not $150 or $200... I really just picked it, no rhyme or reason. My goal in this challenge is to see how little we can spend over the course of a month. It will take some changes, and alot of creativity, something hubby and I are ready to take on.
About us- ours is a family of 5, Hubs and I and 3 sons, ages 10, 5 and 3. The littlest is still in diapers, our 5 year old is not is school yet, and our 10 year old is not in sports but will be trying out for the school musical in Feb. Hubs is currently unemployed, and I run a small business from home.
Why February? Because hubs is unemployed, we are needing to tighten our belts even tighter. Also, we are thinking this may become an annual challenge, and Feb is the shortest month. :) And finally, because Feb is also the month with the least amount of birthday's and family gatherings so we can try and drive less. (it take about $55 to fill our minivan).
To make it easier to track less tempting to spend, on Feb 1st we will be putting the debit cards away and taking out $100 cash.
Want to join me? There is strength in numbers, why not challenge your family to a spending freeze. Think about how much you think you could trim your spending to, and set a goal a little lower (it is supposed to be a challenge after all). Blog, or journal about it, or just follow along here and share your progress in the comments.
Not ready to take the plunge? I encourage you to follow along anyways, maybe share a few tips, and learn a few at the same time. Lord knows nearly everyone needs to save money these days.
So I want to know, have you ever had a spending freeze before? Will you be joining us next month? Comments are welcome :)
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