After tracking my spending from my trip to New Orleans and Disneyland, I can easily say I overspent in the vacation budget big time. I may have even cried a little realizing I had overspent by $500 and dipped into my apartment savings account, which bummed me out but what really bummed me out was realizing how much I would need in deposits to move into my new apartment after the first of the year and how my spending binge hurt me in the end.
Even though my roommate and boyfriend were both totally understanding of the situation ( her for allowing me to stay just a bit longer and my boyfriend delaying his snowbird trip), I still felt extremely guilty and had a wake up call. A few weeks ago, one of my best friends was talking to me on the phone after a revelation I had in therapy. My friend said I really needed to ask myself what do I want in my life and make choices from there. I know I don’t want to let others down but what I really don’t want to let myself down. I don’t want to financially sabotage myself and my goals and that’s what exactly I’m doing every time I have a spending binge. So, after talking to Janine and Sofia, we decided to all three go on a spending challenge for various reasons. And you know spending challenges aren’t necessarily fun unless you give it a nickname so we titled “NoSpendVer.”
NoSpendVer is a 60 day no spend challenge that will be taking place from October 20th until December 20th, right until Christmas, which means we should be back on financial track right before the holidays and the new year! It’s always great to spend the new year on a right foot and we think this is the way to go. The rules are as follows:
- No spending on non-essentials
- Essentials include: groceries, gasoline, utilities, rent and anything you NEED to live.
- Because we don’t want to be completely anti-social, there is a limit to $20 a week on “fun”, or $160 in 2 months
- No purchasing clothing – with the exception of a pair of winter boots.
- No dining out or coffees unless it’s included in the fun budget.
- Christmas gifts can be purchased – tis the season ( but only spend accordingly)
- Reimbursable expenses don’t count.
Those are the basics of our rules we’ll all be following but we are allowed to alter in our own circumstances. I will definitely be trying to only spend my side income for those holiday expenses coming up, such as travel and gifts. I have two plane tickets to purchase along with a few gifts for loved ones, my secret Santa at school and postage for Christmas cards. This will only me to hustle even harder since I need to save all of my paychecks to make my goal of moving out into my own apartment by February 15th!
By doing this challenge, I hope to save up not only $1,000 towards my apartment but $400 for my retainer. That’s right, my braces are coming off soon! So, starting the new year in a new apartment with a new smile sounds definitely fitting to me.
And if anyone else wants to join our challenge, please let us know!