
Quite a while ago, I read an article about a family that didn't buy anything new for an entire year. They had kids and the entire family decided to see if they could do it. It has stuck with me as an interesting idea. It crops up every time the Amex bill comes in the mail. So Ducky and I have decided to that we are going to do our own version of this experiment. Oddly, this has nothing to do with the economy, but more to do with our impulse purchases and opting for the easy out (meals, etc.).
We have decided that for the months of January and February, we are going to follow a few simple rules and see how much money we can save. Then we are going to put that amount of money aside for home projects or a trip.
The Rules:
Consumable items may be purchased - groceries, cleaning products, utilities, auto expenses, printer paper/office supplies
Necessary repairs will be taken care of
Eat out not more than once a week - only when life requires it
Any purchase must fill a need - a need being a must have, cannot live without it, not gosh that would be great to have
Shop from lists
We get a monthly allowance of $20 (a girl cannot give up coffee completely)
We will have a monthly family activity allowance of $100
Use coupons when I find them
There was a time when we did not have any extra money and we were really conscious of where our money went. Now that our budget is not as tight, we don't think before we spend. We hope to become mindful of our spending, allowing us to save up to do more expensive projects or vacations more frequently. To stop frittering away our extra money and instead use it reach our goals. Anyone want to experiment with us?