I've decided to have a "No/Low Spend" July!
- Our slush fund is quite low and I'd like to bump it back up. This is what keeps us out of our savings accounts, so it's important to build it back up! This account covers smaller incidentals that pop up and our regular budget doesn't cover. (Gifts, clothes, medical which our insurance provider doesn't cover, unexpected bills, etc...)
- I'm working on 3 considerable savings goals and I'd like to continue making progress on them! I'm very close (kinda) to my largest goal, so the momentum is high!!
- I'm trying to get the kids to understand (mostly Mya) why we're working so hard to save, save, save! And I know I haven't said much yet about this on my blog, but I will. Sooner than later. Probably when I hit my goal honestly! This month will be a test for me and the kids! I plan on including them with my weekly budget and monthly finances so they can *see* where all of our hard earned dollars go!
My ground rules:
- No buying "stuff" unless it's an honest to goodness *NEED*. So, no books, not toys, no fabric, no clothes, and so on. Mind you with Canada Post probably going on strike today, it's going to make this far easier for me as most of my shopping is done online!
- I have done no "pre-stocking" for the month ahead as for me, I think it defeats the purpose. I know some like to prepare by pre-purchasing items that they'll need for the month ahead, filling their gas tanks, etc... But then I'm just spending money that I shouldn't be for things I may not need at the time. So I don't bother. Plus we've already been through this week's budget and $.62 doesn't go far. LOL!! I'm going forward with "business as usual" for the month.
- The kids & I have been looking forward to seeing "The Secret Life of Pets" at the theatre for many, many months. We saw a preview for it at least a year and a half ago, and I promised them we'd all go see it together when it comes out. Which naturally is this month. I have to be able to work it into our *weekly budget* and not go over budget however. It looks sooo funny and since we haven't been to the movies since April, I'm going to keep this activity in.
- If something comes up that I'll need a gift for, it needs to be handmade. So I hope they like my sewing! lol!
- No fabric purchases. I have plenty enough to keep me going... As I'm sure most of you can attest to!
- I'd love to get our slush fund back up to $1K. It's currently at $465.00. *Ok, I think I should NOT budget before my morning coffee. My slush is not at $700.00 at all... Somewhere I miscalculated something and had to even out to start fresh this month. What a kicker! :(
- I'd like to bump up my main savings goal by $349.00 - then with another $2K I'll reach my goal!
Now just a few notes..
Since Canada Post is going to be locked out/striking, in all likelihood my income will be next to NIL for however long it takes them to reach an agreement and get back to work. This is going to hurt us.
I've thought about stocking my items locally in a "handmade" type shop, it appears as though now is the time to do it! That means making some stock, emailing the owner, signing the contract and getting my stuff on a shelf! There's a small rental fee so I'll need to work that into our budget as well. I was proactive on this one and have chatted with the owner of a local handmade shop and we have already worked out all the details! I'm very excited and will post more on this later on in the week!
Our weekly budget for July will be $300.00 a week, starting today! This must cover groceries, kids allowances (the youngest 2 can earn $5.00 when they fill their chore chart) and whatever else comes up. Ideally I'll come in under budget and will have some to tuck into savings!
A no spend going to be tough for us because there's a lot of fun stuff happening in my city now that the summer months are here! We will probably still take part in the fun but will need to pack snacks, drinks, etc... Anyways, that's another post!
I think that about covers it! Sweet & simple, to the point and with a focus! Wish me luck!
Have you ever tried a "no/low spend week/month" to work on a savings goal?