In past couple of years I have done “No Spend Month” Challenge where my family of 4 spent about 0 on daily expenses, not counting mortgage/rent, utility and phone bills. One year I did great and another I did not. This time, I am going to be out of town traveling during month of July, hence decided not to do “no spend month challenge” this time.
If you are curious about it check out past few years post to see weekly updates and how I fared below; If you decide to go through this challenge, let me know if you have any questions or concerns. It is always easy to do this with a friend or online friend support.
Learning from No Spend Month Challenge and Experiment:
I have learnt a few things from being stay at home, Zenguy being out of work for 22 months and doing this experiments for a few years;
- Using cash made me aware what I was spending
- Credit card usage made me spent more and did not realize where money went, until bill came
- Writing down daily expenses, including small 50 cents expenses made me more frugal
- Cooking at home is always cheaper, faster and healthier
- Kids did not even know anything was a miss, they simply enjoyed it.
- Money does not make life better, there are lot of simple things that makes us happy
- Library has great resources for entertainment such as new books, movies and even music CDs to enjoy
- Paying down bills made me more happy then spending it on luxury item at the end
- It is not money but how we feel about money makes difference in our life
- Knowing I spent less and was able to control my “I deserve it”, made me learn patience in life
- Reading how to save money books surely gave me ideas on ways to save in my daily life without feeling the pinch.
- Finding new ways to make money from home or start blogging to supplement income also helps.
No Spend Month Challenge (2011)
No Spend Month Challenge Take Away and Lessons
No Spend Month Challenge: Update 4
No Spend Month -July 2011: Update 3
Upgrading Inexpensive Food In to Gourmet Meal: Ramen Noodle Hacks
No Spend Month Challenge: Update 2 and Savings Tips
No Spend Month Challenge: July 2011- Update 1
No Spend Month Challenge: July 2011
No Spend Month Challenge (2010)
No Spend Month Challenge: Update and Take away from the experiment
No Spend Month Challenge: Update 4
No Spend Month Challenge: Update 3
No Spend Month Challenge: Update 2
No Spend Month Challenge: Update 1
No Spend Month challenge: July