My BFF and I have challenged each other to a No-Spend August! What does that mean? We will be doing our absolute best to not spend money on anything unnecessary during the entire month of August.
Here are some goals for ourselves and our families in our No-Spend August challenge.
- Spending less to save more. Increasing our rainy day funds - better planning for unexpected expenses.
- Minimizing growth of the "stuff" in our houses. We want to stop impulse buying. Our kids don't want for much. My son has almost 10 good-sized emergency vehicles that I can see from where I am sitting right now. Plus at least 100 small cars, and so. many. more. toys! It's so easy to go crazy buying "stuff" for our kids, and we feel like we need to rein ourselves in a little!
- Finding creative ways to have fun with our kids. We won't be out spending money on toys, strolling through our favorite retail store, or watching movies at the theater. We will be challenging ourselves to get creative with our kids to exhaust them and entertain them in ways different from what we normally spend money to do.
- Proving to ourselves that we can do it. I mean, it's a challenge, right? Staying home with our kids gives us endless opportunity to expose them to events, things, etc. that cost us money. It becomes a way of life, and changing any area of your life is a serious challenge. But we can do this. We WILL do this!
- Winning. Seriously. We have an amazing friendship, but we love a little competition. Who can save more? Who can find the best clearance deal on a need? Who can stick to a no-spend plan the longest? I need to win!
Ok, so we know we can't go all month without spending money. That would be an unrealistic expectation. So here are some ground rules on what we are "allowed" to spend money on without exception:
- Basic needs/groceries
- Gas for the car
- Medications
- Doctor appointments
- Baby supplies (diapers, wipes, etc.)
- Household goods (toilet paper, laundry detergent, etc.)
- Bills
- Auto repairs (must be necessary for safety reasons)
- Existing monthly kids activities and education (preschool tuition, gym memberships, etc.)
Between the two of us, whoever spends the least on things not listed gets treated to dinner out by the bigger spender! I encourage you to join us in this challenge. Show yourself you can do this!
