Participate in the July No Spend Challenge, watch your savings grow!
Fresh off of Wednesday's blog post about frugality, here is a link to a blog I follow called, Northwest Edible Life. This month they are encouraging their readers to participate in a no spend July challenge. I am encouraging you to participate as well. Think you are up to it?
Today is kick off day. This is how to begin. First, set your goals. Set a reasonable and modest budget for yourself this month and stick to it. Write your budget out on a piece of paper and put it somewhere you will always see. Reminders are good. Second, track all of your expenses throughout the month and report back to my blog at the end of July on your progress. And finally, because you will be writing all expenditures down (every single thing you purchase), don't forget to track what categories you usually spend the most money on and what types of spending you can trim down in the future. The challenge is to stay within your budget. Don't spend more than that.
My goal is to save $1,000 this month. How am I going to do it? In addition to my regular bills and planned expenditures, I plan on spending $160 on groceries and $40 on fuel costs. I'll let you know how I do and how close I get to my savings goal at the end of the month. Happy first day of July and good luck!
Cool! My plan is to use my bi-weekly stipend to pay my bills, use only $100 for miscellaneous expenditures, and save all the rest! We'll see if I can make it on $100 for the month. It'll be hard!
ReplyDeleteWow! Good luck Jenny! Can't wait to hear how it goes. I already want to buy Gillian Welch's new CD, but I will just listen to it on NPR for free! :-)
ReplyDeletehttp://www.npr.org/2011/06/29/137346722/first-listen-gillian-welch-the-harrow-and-the-harvest