It’s time once again to try another No Spend Challenge. As we come to the end of the year, my wife and I are looking at how we have done with our finances for 2016. We have had our ups and our downs, we have worked hard at times, and slacked off at times. Who here can say they haven’t done the same?
As we get prepare for 2017, we have decided that it’s time to do another No Spend Challenge to start the year off right. We know how much it changed our lives last year and we are excited for even bigger changes now!
No Spend Challenge 2016
Some of you may remember that we did a No Spend Challenge for January of 2016 as well. If you weren’t around, here’s a link to that information: http://diyjahn.com/no-spend-challenge/
Otherwise, here’s a quick recap of how it went (to read the longer version, click HERE).
Over the course of the month of January, my wife and I spent a total of $68.32. By removing money for groceries, cancelling some programs such as Advocare and Hulu, and searching for lower cost for car insurance, we saved over $500 for the month of January!
To top it off, we ended up putting a total of $2,918.58 toward our debt in January alone!
No Spend Challenge 2017
So, now it is time to try again – to jump-start our year of savings by completing a second No Spend Challenge. We know that we have plenty of food in our freezer and pantry to get us by – so why do we keep going to the store to get more? We know we have enough of everything, but we continue to spend. Not this month! This month, we will focus on not spending, saving, and getting money into our emergency fund!
Please note that you can follow as many or as few of these rules as you would like – you can also make some of your own!)
- No spending money on groceries, fast food, restaurants, clothes, books, fun money, etc. Basically, we are trying to get down the bare bones to help us break the habits of spending. We are going to eat what’s in the cupboards and freezer, we are going to live off what we have, and w e are going to have fun for FREE without spending money! (Please note that if we do run out of food that we can prepare in a healthy manner, we will be buying food, but we don’t expect that to happen. We also aren’t willing to go without toilet paper or feminine products, so that will be something we may need to purchase.)
- Bills will still be paid on time. We will not cut out our bills for the month, but we will instead utilize this month to work toward paying all of our bills early and putting our extra money into our savings account.
- Any healthcare and medical costs will be paid as needed – these are a necessity and not an optional cost. If you need medicine, medical care, or the like, make sure you don’t cut these out. Just ensure that when you go to pick up your meds, you don’t end up buying more things you don’t need (a soda, Subway, a new toy, etc.)
Join us for the No Spend Challenge 2017!
The hardest thing about budgeting, frugal living, and saving money is doing it alone. That’s why we have created a challenge group for this very purpose! Filled with exclusive tips and tricks to survive frugal living during your No Spend Challenge as well as a community to back you up, we know that you can succeed!
Follow this link to join: https://www.facebook.com/groups/nospendmonth
Follow our rules or make your own! We know that not everyone is in the same situation that we are in. Stick with as much or as little of the challenge as you are able in your situation. Don’t be afraid to sign up and come along for the ride!
We’ll be taking the challenge right alongside you. I will update the blog weekly with posts and update the group even more often than that! Click HERE to join the group!
Help us to Create a Community
Finally, please feel free to share this with any friends or family members who you think could benefit from this. Guide them to us! We would love to be in contact with them, and you.
If you have any questions or comments, leave them below!
Thanks for reading!