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Sunday, January 5, 2014

January Savings Challenge - Link Up


Did you spend too much last month? Did you spend too much in 2013? I am sure most of us did. I like to take stock and get back on track in January. My HUSBAND likes me to get back on track in January. "Reign it in" is what I hear. So I do. I try and really limit spending to what is necessary.

Last year I did a No Spend January. This year I won't quite do as much as that but I will keep spending to a minimum. There are some good tips in that post if you want to check it out. I am however going to host a 16th birthday party this coming week for my daughter but she is lovely and simple and just wants food and a bonfire with smores.

What will you gain with a "no spend month" or a "low spend month?" Well lots. When you are not spending time and energy on shopping to improve your home or to buy a new outfit you are gaining time. Time to read, to clean or organize, to do a puzzle, to take a nap. Sounds good to me.

In order to encourage each other I am doing a month long link party so all of you can link up any of your money saving posts to share with all of us. I will do weekly updates and add mine. You can even link up old posts that you think would be helpful.

So for this coming week to save money we are:
1. Eating all leftovers. In fact we have ate them three nights in a row now. Taking stock of the freezer and pantry and creating meals out of items that need to be used. I hate throwing food away.
2. Eating at home except for one meal a week which will probably be date nights for hubby and I but we will do them on the cheap.
3. Put any extra money back into our savings account.
4. No shopping except for necessities.
5. Make sure all items I need to return are done and my account is credited.
6. Free entertainment with the kids. We have movie gift cards to use for when we need a treat.

So how about it? Anyone want to join me?

16 comments:

Maria said...

Hi Elaine, I just started a 52 week money savings challenge. Like your family we are also eating leftovers this week and using up some things out of the pantry before shopping for more. I don't have a money saving post to share but I'm with you all the way!
Hugs from your newest follower
Maria

marty (A Stroll Thru Life) said...

Just shared my Frugal-Easy Budget ideas post. I am totally with you, just trying to reign in the things that I can and add a little to the saving account. Hugs, Marty

Art and Sand said...

I have done a no spend January for about 20 years.

1. It makes me think twice about what I spend money on.

2. It makes me shop the house and I realize that I usually have something I can use instead.

3. I usually need to spend time on the house after Christmas anyway instead of visiting shops.

4. And then, at the end of the month I have some money saved up to use on our winter ski trip. This year we will be in Utah and if I can get to a craft shop in Utah I will be happy because their prices are so much cheaper than in California.

Happy Savings!

Deb @ Frugal Little Bungalow said...

Ha ha ha Elaine I was just thinking yesterday that in my neck of the woods the way to avoid spending is winter, period. Snow and ice and frigid cold temps are great on the budget. The only outing you want is the grocery store and then its back home :)

Babajeza said...

I was so tired after Christmas I didn't want to go shopping at all. So I took yarn from my cardbiard bos in the attic (and my mother's) and started knitting a hat. I ended up having four (Christmas presents for next year). Now I am knitting a sweater because there is still leftover yarn. Hey, this is money just laying around ...

I usually don't spend money in September. Actually, it is fun. So why not do it in January too?

Corn in my Coffee-Pot said...

Elaine-
after picking up the packaged venison yesterday and restocking the spices in the cupboard-- The Honey asked me if we need to have a no spend January!
I laughed seeing how our income is lower this month and the check has already come, and there is soooo much month left... I think I will join you!
Happy No spending!
Pat

Kim@Snug Harbor said...

I need to get back on this band wagon - you successfully inspired me 2 years ago when I did my "No spend February." Wow, have I been following you that long??

Anyway, I linked it up. Thanks for the much needed financial reminder.

The Quintessential Magpie said...

Elaine, these are some good ideas. I need to spend less, too. Mainly, I need to declutter.

You asked me about hating to take down the decorations. Yes, I do. I really do. I love Christmas, and it seemed that I didn't get ready for it until it was right here this year. But I am also ready to organize and do a lot of things I need to do.

All the best for 2014!

XO,

Sheila

Elaine @ Sunny Simple Life said...

I bet. Home and safe is the place to be.

corners of my life said...

A perfect time of year for this challenge.

Jen @ Muddy Boot Dreams said...

That's a great idea, I love how there are lots of tips on saving money at this time of year.

Jen

Art @ Home said...

I don't have a post to link-up, but I do want to participate. I definitely could do a no-spend January. I'm also cleaning out our pantry and freezer. We're eating out of both, and what I don't think we'll eat we're donating to our church's food closet.

I hope you've had a blessed Sunday! We're hunkering down for the big freeze, freezing rain, and snow headed this way!

xo,
RJ

Debby said...

I'm not sure I could do a no spend month. It's not that I spend much anyway but there is always something that comes up. Right now it is important to keep stocked up on food and supplies with snow, ice and freezing temps. When you can't get out and about the online sales are tempting. But we can all learn from others on how to cute back. I am always interested in that....and who knows maybe I will do a no spend February.

Andrea at Opulent Cottage said...

We are cutting back this month too. It's easier when we all have moral support! I may have to pick up a few things but only necessities for us this month. Looking forward to reading through all of the tips! 15 degrees this morning in Dallas is going to wreak havoc on our utility bills anyway so it's a good thing we are not spending on other things :(

Kathleen Grace said...

I'm pretty happy that we didn't overspend for Christmas, it was pretty simple this year and didn't even take a lot out of the budget. January is always pretty frugal for us, we just hunker down up here in the cold and wait for Spring. If I buy anything it's clearance goodies for next Christmas (gift bags at Target 30 cents each and 3 packs of tape for 90 cents!)and clearance clothing we may need, but I don't enjoy shopping so not as lot gets spent!

Joke Vermanen said...

I am joining, but I have no choice. Husband had to take an other job with lower salary. So now we have less to spend. Also I had a big dentistbill payed last month and now the mony is all gone... and the next salary won't come until end of this month. We are stretching the mony as we speak. Don't worry. We won't starve but this also makes you creative.