I don’t know about you but for me December is a time of excess: food, spending, imbibing. January with its resolutions and desire to behave is the perfect time to recover from December.
This is why I got excited about the Frugalwoods Uber Frugal Month Challenge. Let’s be honest, I’m doing a me version of this but I thought I’d share my journey. If you’re up to the challenge I know they’d love to have you join!
- Why are you participating in this Challenge?
- December is a month of excess for me and though we didn’t accumulate debt we did get a bit carried away with our spending. Nothing wrong with this but I don’t want to let this behavior continue into January
- What do you hope to achieve?
- Get back into my frugal mindset and be good with my money
- What are your longterm life goals?
- Where do you want to be in 10 years?
- My aim is to be healthy, mortgage free, in a great relationship with ML and taking a big vacation every other year
- What about your current lifestyle might prevent those goals from coming to fruition and what can you do about it?
- My current lifestyle will allow me to do these things if I keep it up. I need to not get cocky or allow lifestyle inflation to creep in.
After doing the above first step I read through the others and continued my tradition of doing a monthly debrief and plotting my upcoming spending. Now my hiccup came on Step 4! Based on my math, I should be able to save $78 from my budget.
I was originally a bit disappointed at this number. I had slashed my entertainment and eating out funds which tend to be my big spenders. However, this month I need to buy more gas than I usually do and will most likely have to purchase some conference items.
While $78 may not seem huge when compared to what I would be able to save if I didn’t have the travel expenses it’s nothing to sneeze at!
Here’s what $78 can do in the short term:
- nearly 2 month’s worth of gas in my budget
- 2 months of Bunny supplies
- a nice date night for ML & I
- at least one pair of shoes, possibly 2 if I get a sale
- A massage
- A salon day
In the long term that can make a pretty big difference in any of my savings accounts:
- about half of my monthly allotment to my mortgage fund
- an excursion in my vacation fund
- a nice boost to help me get my Sky is Falling fund to my goal
- a kitchen appliance when we rebuild it
- a few light fixtures
I try to limit my posts to 500 words so I’ll stop here. My January goal is to save at least $78 from my budgeted spending.
Would a challenge like this be of interest to you?