February – A No Spend Month

Have you read about these crazy people who don’t spend money for an entire month (here, here and here)? Sounds like craziness to me! So crazy in fact, that I think I want to try it. But this challenge doesn’t really seem like one that you can take on half-heartedly. It’s either no spending on incidentals, or back to my old spending ways.

Freedom from money challenge

Since February is the shortest month of the year, I’m going to try it. Twenty-eight days of no spending – except the mortgage, bills and a budgeted amount for gas and groceries. Should we take bets now on whether or not I can do it?! If I did my math right, I think I can save $500 by sticking to my plan. And $500 would go a long way to a great vacation!

Here is my plan. Things that will get paid – because I have to:

  • mortgage
  • electric, cable, water, and phone bills
  • student loan
  • other loans (home depot card)
  • car and life insurance
  • two tanks of gas
  • limited groceries (the plan is to eat from the freezer and pantry)

Incidentals that will be my “financial wins” for the month (trying to keep it positive!)

  • trips to Starbucks
  • random purchases at Target
  • use all my current craft supplies so I don’t have to go to Hobby Lobby or Michael’s or Joann’s
  • new clothes
  • goodwill trips
  • beer or wine
  • trips to home depot

I will focus on using what I have, using gift cards that have been collecting dust in my wallet, or choosing the free options. I’ll try to do some updates throughout the month – to keep me accountable and to share my progress. Gulp!

It’s a good thing I just bought new running shoes (at a huge discount, I might add!). Maybe running every day will keep me from wanting to go shopping!

Thing I’m crazy? Crazy enough to want to try the challenge with me?

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