Budgeting, No Spend Year

No Spend Year: January’s Purchases.

money pink coins pig
Photo by Skitterphoto

The title of this post seems like an oxymoron, but my No Spend Year is more about intention than perfection.  These posts are a means for me to stay accountable, even if I spent money on items I’ve hoped I wouldn’t.  Also, this month’s purchases do not include food, eating out or regular bills.

This month’s purchases:

(The red highlighted purchases are ones that I wish I didn’t make.  I hope to have fewer red purchases next month.)

Household:

  • Vacuum bags ($24.90)
  • Batteries ($12.99)
  • Power Strip ($9.99)
  • Scale ($18.10) {Replacement}

Total:  $65.98

Personal Spending:

  • Budget stickers.  ($75.00) This one hurts a little.  What was I thinking?????? Of course, when you buy on Etsy, it’s $5 here, $10 there.  It really adds up.  All I can say is that they better bring me joy each time I use them. 🙂
  • Northern Exposure Season 1 DVD ($11.68)  I thought this series was on Netflix.  Bummer it wasn’t, but I really wanted to watch it, so I purchased it with some gifted money from my parents.
  • Excel Templates.  ($10.00) (Worth every penny.)
  • Spending Journal ($6.49) (bought on Amazon, but honestly didn’t need it. 😦  Already wrote in it so couldn’t return)

Total:  $103.17

Personal Care:

  • Hair Color ($13.62) Took advantage of coupon sales and purchased 3 months worth.
  • Sensodyne toothpaste ($10.00) (2 tubes) Having sensitivity issues with my teeth.  This was the suggested toothpaste from dentist, but didn’t have coupons. 😦
  • In Shower Lotion: ($7.00)  {Replacement}
  • Make-up (Ulta): $6.38 {Replacement}
  • Diet Bet ($20.00) I had high hopes of not only winning my own personal bet, but adding a bit more to it.  However, as the bet went, I needed to lose 7 lbs in 4 weeks.  I should have known better. 😦

Total:  $57.00

Clothes:

  • Gloves ($19.99) I needed a warm pair of gloves.  Unfortunately, these failed miserably, but I couldn’t return them as I had already worn them.
  • Tank Top ($2.98) Super deal at Target.  Couldn’t resist — but I didn’t need it. 😦
  • PJs ($11.98) {Replacement}

Total:  $34.95

Total Amount of Purchases I made for January:  $261.10  Total Amount of Purchases I wish I didn’t make: $136.14  Goal for February:  Lower the number in red.

Final Thoughts on January’s spending.

  1.  Research items before purchasing (i.e. gloves that keep your hands warm.)
  2. Take off all payment methods online.  I really should have waited on several items I purchased.  Had I waited at least 72 hours, I wouldn’t have purchased them. (i.e. budgeting stickers, DVD, spending journal). Taking off the credit card from Amazon and PayPal should slow down my trigger finger a bit.
  3. Even though I give myself $100 for personal spending, I should be more mindful of how I really want to spend it.  Seeing everything in black and white is very eye opening.
  4. All in all, $261 is not bad in spending.  Half of the stuff was replacement or consumable products that we purchase on an ongoing basis.  As long as I am  mindful and intentional with my future purchases, I should be well on my way to controlling my spending.

Your turn.  Did you buy anything in January that you regret?

 

Goal Setting, No Spend Year, saving money

My No Spend Year Challenge (and what it really means)

You may have noticed that I wrote in one of my goals for 2019 that I was going to challenge myself to have a No Spend Year. What it should have said was:”Have a no spend on mindless stuff that doesn’t matter and doesn’t help me meet my goal year“. But that was too long. So I shortened it.

The Why

After spending the last six months decluttering my home while still spending money on stuff that I will probably declutter in 2019, I decided it was time to stop the madness of all of this spending on stuff that doesn’t matter and redirect the funds to things that do matter. This isn’t just about spending, however. It’s about appreciating the things I already have and being grateful for all that has come into my life already. That’s hard to do when I keep bringing more stuff in.

My inspiration to attempt this challenge came from a book I read last year. Cait Flanders’ book, The Year of Less, changed my way of thinking. It is a book about her year long shopping ban, how she changed her habits and discovered what truly mattered to her. I continue to read her blog as a source of continued inspiration.

To be clear, this challenge isn’t about deprivation. It’s not about sucking the joy out of every day. It’s the opposite. It’s about spending money on what matters most – my health and wellbeing, my husband, my family, my friends. In fact you may be surprised as to what I actually am able to spend money on with this challenge, which makes it very different from what a typical ‘no spend’ has been.

The Rules

What I will be spending my money on:

  • Regular bills
  • Necessary replacement clothing only
  • Food and eating out (limited because of my health goals)
  • Vitamins, medicines/medical expenses (of course)
  • Travel/Experiences
  • Gifting (but limited to special occasions)
  • Replacement of consumables – toilet paper, household products, make up (limited)
  • Haircuts/color
  • Home Maintenance
  • Paint and furniture for my new room
  • Charitable contributions*

*I may have missed something from this list, which I will add later.

I anticipate, based on my spending in 2018, that I will be able to save at least 10% more of our income, helping me reach my goal of 40% total savings. It’s amazing how much spending one can do in a year without really thinking about it.

I will do monthly updates to keep myself accountable. I’m hopeful that I can and will change my mindless spending habits, not only for 2019 but in the years to come.

If you would like to participate, or are doing something similar, please share! I would love to hear from you. 🙂

 

 

Goal Setting, Minimalism; decluttering, No Spend Year, saving money

Happy New Year!

It’s that time of year again, when we contemplate how we want the new year to take hold.  It really is all about taking control and setting goals (and, of course, following through).  Here are my goals and focus areas for 2019.

19 Goals for 2019

Health/Fitness

  1. Lose 10 lbs.  To obtain my ‘best’ weight, I should lose 20.  But 10 will be considered a success.  I have a free app called LOSE IT, which will help me keep track, and I’ve joined a Diet Bet game for January.
  2. Train (again) for a 5K and sign up for 2 races.   Last year was the first time I ran a 5K.  I was injured, but I finished.  This year I want to train and run at least two more (hopefully without injury).
  3. Maintain 10,000+ steps a day. I have the Fitbit Versa, which I absolutely LOVE.  It will definitely help me keep this goal in check.
  4. Follow a Low Sugar Diet/No Dairy.  This was the best one I could find.  Honestly, I’m trying to figure out if a certain food group is causing havoc in my body, and I have a feeling it’s the absurd amount of sugar I’m inhaling.  But then again dairy makes me feel bloated as well.  We shall see.
  5. Try Yoga.  I know I need to stretch more, and this has been on my ‘to do’ list for several years.  Time to do something about it.
  6. Annual Drs. Visits. – Striving for well visits onlyFingers crossed. 

Personal/Home

  1. Read 12 books.  One book a month – something that educates and/or nourishes the soul.  Suggestions welcome.
  2. Play the Minimalism Game.  3x.
  3. Create a space just for me. We have an extra bedroom that I want to make into a meditative, contemplative, hideaway just.for.me.  More to come on this one.
  4. Attend one spiritual retreat.  To be determined.  I’m not sure what direction I want to go with this, but I’m really ready to embrace spirituality.
  5. Journal/Gratitude Daily. This is self explanatory, right?
  6. Fix the kitchen appliances.  We have a cooktop that we have to ‘light’, and an oven that doesn’t hold the temperature.  They must be replaced this year.

Work

  1. Start a new blog.  Done! Well, sort of.  There’s a lot of work I still need to do to make this blog what I hope it to be. 
  2. Create money making opportunities online.  I have some ideas on how I’d like to add to the household income.  I already have my eyes set on some affiliate promotions that will go great with my blog message.

Finances

  1. Live on our proposed retirement salary for the entire year. We will have our mortgage paid off by the time we retire, so I’m not including that amount.  I’m using a monthly figure of what I believe will be a realistic withdrawal from our retirement accounts.  The wildcard, of course, is healthcare since we won’t be eligible for Medicare at 62.  I’ll have to try and figure that one out.
  2. Have a NO SPEND year.  Yep.  You read that one right. A whole year. I will be addressing this in another blog post with my preset rules for the No Spend.  It will be very different than what you are usually seeing for a No Spend.  I’m excited.
  3. SAVE 40% of take home pay. With no college tuition payments, and a lower ‘proposed’ salary, this should be a slam dunk.  At least that’s what I’m hoping.
  4. SAVE for a Baltic Sea Cruise. We hope to do this trip for our 25th wedding anniversary in May, 2020.

My 19th goal for 2019 is to reconnect with all my blogging friends whom I have missed so much!  Please leave a comment so I can add you to my blogroll!

Here’s to a prosperous and healthy New Year!