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No Spend February

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k-s
Regular Contributor

No Spend February

Hey all! 

 

In spirit of The Great CC Payoff Challenge, DBF and I decided to make this month a 'no spend' month, in which we will pay for our rent, utilities, car payments, insurance premiums, gas, and groceries ONLY. No dinners out, no new clothes, no discretionary spending whatsoever. Only absolute neccessities.

 

Just putting this out there for those of you who are also struggling to reduce spending and lower util. 

 

I have a simple spreadsheet going to track our success (and know who to blame if we fall off the wagon Smiley Wink and 3 days in, the only things we've spent money on are rent and groceries, so we're doing well so far. 

 

Hoping everyone else is also working on better financial planning for 2014!

EQ MyFICO: 719 - Discover It TU FICO: 749 - EX 728
Amex PRG: NPSL | Amex Blue Sky: 2k | Amex BCE: 10k | Amex TrueEarnings: 5k | Amex Delta Gold: 2k | Discover It: 4k | SFCU: 13k | Quicksilver: 4k | Venture: 10k | Freedom: 2k | CSP: 7.5k | Amazon Visa: 5k | Citi TYPremier: 6.3k | Best Buy: 4.5k | Macy's Amex: 6k | Nordstrom: 4k | Old Navy Visa: 4k | Target: $1.2k | Angel: 1k
Message 1 of 10
9 REPLIES 9
alyssamarie
Regular Contributor

Re: No Spend February

that's a great idea, good luck! 

I might try the same thing next month, we don't have cc debt but we're trying to save and cut back on extra spending and this sounds like a really great way to start! 

This month is out of question because of Valentine's day and our first wedding anniversary is on the 17th! I want to give this a try in March though!

Discover It $1k | Chase Freedom $1.2k | Barclay Apple $1.7k | Target $1k |TJX Rewards $1k | Walmart $900 | Macy's $800 | American Eagle $750 | VS $750 | LOFT $500 | Express $350 | Cap1 Sec. $200 |

AU: Amex BCP $5k | Barclaycard Arrival $3k | Amazon Visa $2k | Chase Freedom $2k | Discover It $1.5k

Gardening as of 02/04/14
Current TU FICO 701 | Goal 1: 700✓ met on 2/18/14 | Goal 2: 720


Message 2 of 10
k-s
Regular Contributor

Re: No Spend February


@alyssamarie wrote:

that's a great idea, good luck! 

I might try the same thing next month, we don't have cc debt but we're trying to save and cut back on extra spending and this sounds like a really great way to start! 

This month is out of question because of Valentine's day and our first wedding anniversary is on the 17th! I want to give this a try in March though!


Makes sense! We decided to give up Valentine's Day this year (I'm going to cook a nice meal at home), but if it were my first anniversary, I certainly wouldn't be doing that. Smiley Wink

 

Happy anniversary!

EQ MyFICO: 719 - Discover It TU FICO: 749 - EX 728
Amex PRG: NPSL | Amex Blue Sky: 2k | Amex BCE: 10k | Amex TrueEarnings: 5k | Amex Delta Gold: 2k | Discover It: 4k | SFCU: 13k | Quicksilver: 4k | Venture: 10k | Freedom: 2k | CSP: 7.5k | Amazon Visa: 5k | Citi TYPremier: 6.3k | Best Buy: 4.5k | Macy's Amex: 6k | Nordstrom: 4k | Old Navy Visa: 4k | Target: $1.2k | Angel: 1k
Message 3 of 10
Anonymous
Not applicable

Re: No Spend February

I've tried "no spend" months.... I'm not very good at it! lol.... 

But this month we are trying a $50 food budget. I've got full cabinets (and full freezer) so it's been going well so far! I'm trying to empty out the cabinets. Only buying milk/eggs/fresh produce if needed. I'm going to use the extra $350 to hopefully add to savings! 

The dinners around here this month are going to be getting wierd though. My aunt works for a fancy food distribution company and she's always dropping off new things for me (think jars of tahini, spam, new pastas made out of veggies etc) so I'm trying to work through those. Last night was Coconut Peanut Chicken (chicken was canned...). 

It was a free meal so it tasted great! LOL

Message 4 of 10
Involver
Valued Contributor

Re: No Spend February

In my quest to reduce debt and right my financial ship I have pretty much eliminated all superfluous spending.  

 

I can't imagine living on $50 food for a month though, that is serious business!  That is the one thing I will not cut corners on.

 

Good luck to all who take this challenge.  Once you actively seek ways to spend less money it becomes almost competitive and fun.  At least it did for me.  Smiley Happy

Message 5 of 10
Anonymous
Not applicable

Re: No Spend February

I wouldn't be able to do $50 a month if I didn't already have a full freezer, fridge and cabinets. About two months ago I was on a "super couponing" racket... needless to say I have enough cereal and pasta to feed an army. The DH told me it's all gotta go!

Message 6 of 10
IOBA
Senior Contributor

Re: No Spend February

We donated the Feb pay for a good cause.  Living off of savings and what is already here.  Smiley Happy

 

We have actually spent more on groceries this month than planned, but it's buying the odds and the ends to complete a unique meal to use up what we already have.  And the odds and the ends are being used up too.  Almost nothing goes to waste around here.  

 

By default, we are doing the same thing.  Smiley Happy  It's not a perfect thing, but we are in a holding pattern of a property.  So I imagine that it will be like this for a few more months to come.

Message 7 of 10
alyssamarie
Regular Contributor

Re: No Spend February


@k-s wrote:

@alyssamarie wrote:

that's a great idea, good luck! 

I might try the same thing next month, we don't have cc debt but we're trying to save and cut back on extra spending and this sounds like a really great way to start! 

This month is out of question because of Valentine's day and our first wedding anniversary is on the 17th! I want to give this a try in March though!


Makes sense! We decided to give up Valentine's Day this year (I'm going to cook a nice meal at home), but if it were my first anniversary, I certainly wouldn't be doing that. Smiley Wink

 

Happy anniversary!


thanks!

Discover It $1k | Chase Freedom $1.2k | Barclay Apple $1.7k | Target $1k |TJX Rewards $1k | Walmart $900 | Macy's $800 | American Eagle $750 | VS $750 | LOFT $500 | Express $350 | Cap1 Sec. $200 |

AU: Amex BCP $5k | Barclaycard Arrival $3k | Amazon Visa $2k | Chase Freedom $2k | Discover It $1.5k

Gardening as of 02/04/14
Current TU FICO 701 | Goal 1: 700✓ met on 2/18/14 | Goal 2: 720


Message 8 of 10
bearze34
Established Member

Re: No Spend February

I am not going as hard core as you guys but I am gardening for the rest of the year. I will just have to live vicariously through everyone else as far as new cards go. Don't hesitate to tell us about those app sprees and new cards!
Message 9 of 10
Anonymous
Not applicable

Re: No Spend February

Good luck! My discretionary spending is virtually 0 already, but last month I also attempted a low grocery budget. Was shooting for $0, ended up getting sick on jan 1,so I had to go out and buy some orange juice... Monthly total was approx $26 on orange+apple juices Smiley Tongue Pantry was successfully cleaned out & I didn't have to make too many weird meals ( only had stuffing & marshmellows once!). This month I get to have fun cooking again, need to think of something similar to do for march though..

 

 

Message 10 of 10
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