It’s over. We did it. We made it through No Spend Month, where we
had only $400 to spend on gas, groceries, and entertainment, with money
to spare. We spent $339.54.
The last week was both challenging and liberating.
We hosted Thanksgiving for the family, and we managed to buy the
turkey, mashed potatoes, cranberries, and bake two apple pies without
breaking the bank. We even made ice cream from scratch on Black Friday
and had enough money left to go bowling.
Now that the challenge is winding down, we’ve had the chance to wax philosophical.
“I think it was really good to be reminded what it’s like to live
without money,” the hubby said over coffee this morning. “The thing is,
you live like you don’t have any money until you fall into a real job
and have money to buy whatever you want, and then you do, and it
becomes a shortcut. You don’t spend time on stuff.”
I agree. It’s been a valuable experiment. In some ways, our month
without spending has eliminated many wants from my life. That became
clear when my hubby asked me for my Christmas list yesterday, and I
didn’t have anything to put on it. Sometimes it takes an extreme bout
of not spending to remember that buying things doesn’t make you any
happier, and doesn’t make your life any better or more interesting.
The spending crash-diet has had more tangible results. We saved 50
percent of our take-home pay in November. We usually save about 10
percent. And, we talked about money and came up with a sustainable
monthly budget for the first time in our 7-year marriage. November has
realigned us, gotten us on the same page, and hopefully the lessons we
learned this month will become a foundation for a happier, and more
prosperous financial life.
In the final week, we spent
- $35.54 on gas
- $42 on groceries
- $12 on bowling on Black Friday
If you want to replicate this experiment, here is how we made it through the month:
Food
Groceries were by far our biggest expense. We cooked at home almost
every night, and when we didn’t cook, we ate leftovers. Most of our
meals were vegetarian. Our main source of meat protein was eggs and
chicken.
We made a lot of soup, such as vegetarian chili and corn chowder.We
ate a lot of Mexican-inspired food. Yellow rice and beans can make a
variety of dishes that are healthy and inexpensive. If dinner one night
was fajitas, the leftovers were made into huevos rancheros the next day.
We did eat out, just once, after a memorial service for my dad who
passed away in July. We didn’t go out because we were too tired or
didn’t feel like cooking. When we craved restaurant food, we tried to
make an equivalent meal at home.
While shopping, we used Aldi’s for canned goods, pantry basics, and
cereals. We used grocery sale flyers to figure out what to cook each
week and determine what fresh fruits and veggies we could afford.
We didn’t eat enough fresh produce this month. It was expensive, in
part because it’s winter, so fresh local varieties aren’t available. We
did eat a lot of bananas because the grocery near us has “Banana
Thursdays”, selling them for 29 cents a pound.
A stocked pantry is essential. As is having bags of onions and
potatoes on hand. With that, you are unstoppable. It gives you the
option to buy only when things are on sale, to cook at home even when
you’re in a hurry, and to avoid driving to the store every few days to
pick up something for a recipe.
Gas
We have two cars, a 1998 Chrysler Concorde (the gas guzzler) and a
1998 Honda Civic (the gas sipper). We filled up the Chrysler once and
the Civic twice. Both have almost-full tanks still. We saved gas by
using the Civic for any trip over 5 miles. Hubby and I also worked from
home as much as possible. We always ran multiple errands on one trip.
Entertainment
We got a lot of free DVDs from the library and from friends. We hosted
two parties, and we also hosted Thanksgiving for the family. All party
and meal supplies were purchased on sale. I went to an opening at an
art gallery, for free.
I took many books out of the library and caught up on some home
improvement and craft projects. I am still amazed at how many projects
I have not yet done even though I bought supplies months ago.
We also spent several nights drinking a glass of wine by the
fireplace. I also began hosting free yoga classes at my house every
Monday.
Even though we have been on a budget, we haven’t been alone. We’ve
still managed to socialize and spend time with family and friends.
Before this month, I wouldn’t have believed it was possible.
Baby
We have an 8-month old baby. To save money, we used the cloth
diapers we received as gifts when he was born. This saved us about
$30-$45 on disposable diapers. Baby food was included in our grocery
budget, but at 49 cents a jar, wasn’t prohibitively expensive.
Handling the money
How you handle your money during No Spend Month is critical. It has
to be cash only. It’s just too easy to overspend if you have a credit
or debit card. We used cash for everything except gas, only because we
weren’t good at estimating how much it cost to fill up. When we used
the debit card, we immediately took cash out of the envelope to cover
it.
What’s next?
First, we celebrate. Staying on budget has earned us a dinner at a
fancy restaurant. Ironically,we have decided to forgo $40 steaks for a
$10 Indian buffet instead. It looks like our new frugal habits are
sticking.
No spend month is great, but if it doesn’t carry over into your
regular life, it’s really all for nothing. December marks the beginning
of a new challenge. We have designed a new, long-term budget that will
allow us to live on significantly less than we were before we went on a
crash diet. No spend month has shown us what is possible, and that we
can do so much more with the resources we are blessed to have.
This story originally appeared on SavingAdvice.com.