As I mentioned earlier, we are officially without a paycheck for 12 weeks. (My paycheck will start again when I return to work after my leave of absence in August.)
We do have savings, but as I want to quit my job by next May, we don’t want to dip too far into that.
I was perusing frugal blogs, when I discovered the No Spend Month. The idea is that beyond basic, fixed bills, you allot yourself a certain amount to spend for the month for food, eating out, gas, tolls, entertainment, etc.
I talked this over with my husband who is also eager to save money but not to set ourselves up for failure. We have decided to allow ourselves $500 for the month. This will actually be quite a challenge for us as I routinely struggle to keep our groceries under $300 a month. Also, my son’s birthday is this month, so we will need to be creative. In addition, we are planning two trips to visit my mom (who lives three hours away), so we will have gas and tolls to contend with.
I will start this challenge on June 1st and end it on June 30th. I will let you know, week by week, how we are faring. Wish us luck!!!
If you would like to join us, tell us about your experience in the comments section.
This post was shared at Life as Mom.