Budget Crunch

Budget crunch for the month of February.  February 1st start.

Soft rules:


1) Set your own budget cuts and rules (your plan). You can communicate it or not.

2) It is ok to mess up.

3) If someone gives you money, you can add that to your budget.  EX:  Your mom gives your $20 for your anniversary or birthday - spend it!

4) If you happen to sell something (and get income besides work income), you can add that to your budget.  EX:  If someone buys something from you on etsy or something that you have (old golf clubs, etc), you can add that to your spending cash. 

5) If your car breaks down, fix it no matter what.

6) If you have a health issue, fix it. (go to doctor).

7) Please do not put specifics, if you don’t feel comfortable.

8) Try to categorize where you spend and where you need to focus. I took an extract from my accounts for one month and then categorized my spending. Do this before 2/1.

9) If you want to buy something online, save it in a cart for later (and think about it). For amazon, you can add to your wish list. (it may even go down).

10) You can buy stuff, but try buying stuff in March – especially something you don’t need now (golf clubs, crafts, etc).

11) Gifts like for valentines or birthdays – buy them if you wish.

12) You can go out to lunch – just do what you feel is right for your budget cuts.

13) You can drop out at any time.

14) Starts on February 1st – mainly for 20 work days (plus how much you can do on your own).

15) Gas and groceries are fine – unless you spend way too much on groceries and that is where you want to cut.

16) Try not to cheat – no your friends can’t pay for your lunch every day. 

17) If you feel like you might cheat, ask the group for motivation. (maybe you need a website for cheaper homemade meals and someone has that info).

18)  If you have a child's birthday or you are having a party, do another month.

19)  Keep track of what you are spending. 

My plan:

I’m going to:

Put myself on a daily lunch budget and use cash. I am going to try to spend less than $7.50 a day (including coffee/morning snack/lunch, anything at work, etc). If I spend nothing one day, I can spend more on another day as long as my 20 day budget is met. Others may do $10/day.

Try not to buy stuff on amazon or target or really anything besides groceries. This is my focus area.

 I can go out to lunch but cannot over my daily budget. (or not eat much the next day).

Afternoon coffee will be tea mostly for me as hot water is 11 cents as opposed to several dollars for a coffee.  I bring my own tea. 

Grocery budget stays the same or may go up slightly due to eating at my desk more.

Make a valentine card and no gift for husband.
Any travel plans – will be made after February.

I am still able to eat out on the weekends with family as this is not my focus area and I don’t mind spending here. My focus is work eating and frivolous spending online.

What is your plan?

This is extreme, but use it for guideline:

http://smallnotebook.org/2010/07/01/the-no-spend-month/