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Final Recap: Low Spend January. The End.

Hello Chicks and Chucks. We made it through the last week of Low Spend January and the answer to the question of the last post of whether the last week would be a truly no spend week alas is…NO.

But I was so close.

From Jan 24-28 — five whole days — I spent no coins. And then Friday the 29th happened.

Things were going well. I had even packed my lunch for Friday because I already had it in my head, if I could get through the weekend, on the 31st I was celebrating with a really nice brunch.

Lunch

The Missing Lunch

So, I go bopping off to work, confident in the fact that I was going to make it through the work day without buying anything. Imagine my horror when I reached into my backpack for my lunch and I couldn’t find it.

After weeks of bringing my lunch, this past Friday I forgot it. I was bummed to say the least, and I decided to try Shake Shack’s new chicken sandwich and fries to cheer myself up.

And Friday just got spendy from there. I kept a promise to hang out with a co-worker/friend. I intended to eat before going out, but I didn’t. So I picked up a prepared sandwich from the grocery store. I also took an Uber to the place we were chilling and took one home because the bus won’t let me be great and I wasn’t in the mood to walk home in the dark.

But on Saturday, I realized that this process had changed me.

I stayed in bed late and luxuriated in having a day where I legitimately had nothing that I needed to do. My food supply, however, was getting low. The old me jumped online and set about deciding on what I wanted to order. But it occurred to the new me that I could go to the grocery store and buy enough food to eat for the next three days with the money I was about to spend on one meal out.

The new me and the old me closed the laptop and went to the grocery store.

While I’m not happy that I broke my streak, or that I spent $54.98 in TWO DAYS, I am very happy to report that I achieved my savings goal for the month and only spent $308.75. It would have been nice to have saved that $300 in addition to the other money I was able to save, but it probably wouldn’t have been as much fun.

Would I do this again? Yes, though I think I would torture myself about it a little less. I never realized how mentally taxing not spending money could be. Instead, I think I would stockpile my personal hygiene items and do a better job of meal planning.

In fact, I’m committed to a No Spend/Low Spend Month at least once a quarter because it will help me reach my debt-pay off goals, and eventually my savings goals, that much faster.

And because I am doing it on a quarterly basis I can better prepare for No Spend/Low Spend months. I already know that February and March will be higher spend months because I have travel coming up. I also plan to throw an extra payment at a bill. So neither of those months would be good months to try a challenge. But April is looking like a contender.

So what about you? Want to give it a whirl? Here are my top three tips for a No/Spend, or Low Spend month:

  1. Be realistic. Leaping into a no spend month might make you miserable, so try a no spend week, or pick a day or two each week where you won’t spend money and make sure to save the money that you might otherwise spend.
  2. Pack your lunch. This is where I probably got the most bang for my buck in terms of savings. This month helped me realize that I was being a baby about eating leftovers, and just cooking in general. I like to eat out as much as the next girl, but I have realized I like saving money more. I wanted eating out to be what it should be for me — an occasional treat, not a means for survival.
  3. Make a list. Never go into the grocery store hungry or without a list. If it’s not on the list, leave it in the store. Period.

That’s all I’ve got for now friends. If things didn’t go as planned in January, I encourage you to make this a Fresh Start February. Take a mulligan for the first month of the year, or consider it a practice month. Start fresh on your goals, whatever they are, today.

Happy Adulting!

— Ricks

 

 

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Recap: No Spenduary Week 1

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These damn bunnies had me caught up. #nomnomnom

The first week of No Spend January, also known as No Spenduary, was the spendiest week, but I’m not willing to declare it a total fail.

For one thing, 98 percent of my spending was within the essentials category — groceries and transportation. During the winter months, I typically buy two, 10-ride bus passes, which are usually enough to get me through a month of work. I employ a combination of walking, biking and riding the bus to get to and from home and to assignments. It’s not always convenient, but it saves a ton of money.

Groceries, however, are an interesting area of spending on which I’m keeping a close eye. I think I’ve said it before, and I will probably say it again, but shopping for groceries isn’t my favorite thing to do — except when I can’t shop for anything else.

It is amazing how much fun meal planning and grocery shopping becomes when I decide that I will not spend money in other areas. In one week, I made three trips to the grocery store. Three!

One of the trips was for  what I’d call legitimate grocery items; the second for snacks that I didn’t need; and the third to pick up something for a dinner to which I was invited. And those trips are not without consequence. I’m just about $3 shy of having spent the $75 I’ve budgeted for groceries this month.

It’s a good thing I bought that ramen. I will be eating it. I also spent money on stamps, which came out of my “Stuff I Will Forget” line item in my budget because, well, I forgot.

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Impromptu lunch out. #notlovinit

And then the unexpected. I got a worried phone call from my landlord Sunday afternoon, urging my roommate and I to evacuate our apartment. There was a possible gas leak, and the house needed to be vacant until the problem could be solved. Did I have somewhere I could go, possibly for a few hours?

Sure. I had my laptop and stuff to do, but I hadn’t really eaten anything but a banana for breakfast. It was lunch time. So off to Mickey D’s for food and WiFi. Now, my YNAB buffer is $8.39 smaller. Boo! And my secondary January challenge — Brokepedia’s zero restaurant spending — is off to a rough start. Hiss!

There was a time that this kind of “failure” would make me feel kind of crappy and I would just give up on the whole thing. But in the wise and sage words of the late Aaliyah, “If at first you don’t succeed. Dust yourself off and try again.”

— Ricks

Are you on a No Spend Challenge this month? We’d love to hear your progress. Share your story in the comments.