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Old 02-07-2012, 09:49 PM
 
Location: Chapel Hill, N.C.
36,437 posts, read 41,809,051 times
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We would have to drive a bit to necessary doctor appointments and to the airport for my husband's business travels but the girls could walk to school, we have extra fridge with big freezer so we could stock up on food. It would be difficult to give up our delivery pizza every few weeks but as long as all our bills were caught up I think we could do it. How about your family? I think it would be a great experiment for a family....just not sure it would be great for MY family

http://abcnews.go.com/blogs/business...ney-for-month/
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Old 02-07-2012, 09:58 PM
 
Location: here
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The story says no "discretionary spending" for a month. I don't know if going to doctor's appointments is discretionary. Food isn't discretionary either, but certain kinds would be. Stocking up the month before seems to defeat the purpose, too. The money is still being spent.

I think we could do it if hubby lost his job or for some other reason we pretty much had to. I don't think I'd do it just to do it.
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Old 02-07-2012, 10:16 PM
 
Location: Hyrule
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I have been doing it for a couple of months now. Saving for a down payment for a new home. The whole family agreed. It's not that bad actually but I didn't go out and super stock the home we simply made sure we didn't eat out and bought most of our groceries off the first page lead ads of the paper from all the different stores. The hardest thing to find cheap was veggies but we eat a lot of ramen noodles and hard boil eggs with some veggies thrown in, plus a large amount of bean and cheese burritos. Not to bad, on groceries alone we've saved 1/2 of what we usually spend when we eat what ever we want. We spend free time biking, playing video games that we already have and tennis. We got some cheap rackets and go once a day at some point. It feels like we are actually doing a lot more than when we went out and spent money. It's amazing how you can change habits you didn't even know you had. Something everyone regardless could have fun trying once, even if you have plenty of money.
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Old 02-07-2012, 10:37 PM
 
2,159 posts, read 3,744,722 times
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No, and I wouldn't want to either. We are 100% debt free and work very hard so that we have money to do special things with our son each weekend; whether it be drive out to the beach for a picnic, take him bowling or to a movie, a dinner, etc. If our bills weren't paid off maybe, but life is too short and you can't take the money with you when you die.
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Old 02-07-2012, 11:03 PM
 
Location: Jersey
870 posts, read 1,220,723 times
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Quote:
Originally Posted by Kibbiekat View Post
The story says no "discretionary spending" for a month. I don't know if going to doctor's appointments is discretionary. Food isn't discretionary either, but certain kinds would be. Stocking up the month before seems to defeat the purpose, too. The money is still being spent.

I think we could do it if hubby lost his job or for some other reason we pretty much had to. I don't think I'd do it just to do it.
I think with the stocking up, the lesson in that is supposed to be that one trip for everything for a month saves a lot of money versus going every few days or once a week. I believe I heard a statistic that said the average family goes to the grocery store 3 times a week.

My husband has been unemployed for over a year (goes back to work next week!) and believe me when I tell you, I have learned so much about waste. We have still had enough money to do special things, just not every week. We would like to buy a house and have another car paid off and we need to save to do that. So when my husband goes back to work we intend to try and mostly maintain our frugal layoff budget. Its hard but it really has helped me gain perspective.
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Old 02-07-2012, 11:07 PM
 
35,121 posts, read 38,008,312 times
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Quote:
Originally Posted by no kudzu View Post
We would have to drive a bit to necessary doctor appointments and to the airport for my husband's business travels but the girls could walk to school, we have extra fridge with big freezer so we could stock up on food. It would be difficult to give up our delivery pizza every few weeks but as long as all our bills were caught up I think we could do it. How about your family? I think it would be a great experiment for a family....just not sure it would be great for MY family

http://abcnews.go.com/blogs/business...ney-for-month/

I can go for a couple months with the same cash in my wallet. The only spending we do is for non perishables until the pantry runs low. Non perishables being bread, milk, eggs. Not big shoppers, never have been and we are on a budget to be completely out of debt by the end of this year, just paid the second and last credit card off today. Student loan is next and forward from there.
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Old 02-08-2012, 07:35 AM
 
Location: The Hall of Justice
25,907 posts, read 35,087,307 times
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Quote:
Originally Posted by Dave5150 View Post
I think with the stocking up, the lesson in that is supposed to be that one trip for everything for a month saves a lot of money versus going every few days or once a week. I believe I heard a statistic that said the average family goes to the grocery store 3 times a week.

My husband has been unemployed for over a year (goes back to work next week!) and believe me when I tell you, I have learned so much about waste. We have still had enough money to do special things, just not every week. We would like to buy a house and have another car paid off and we need to save to do that. So when my husband goes back to work we intend to try and mostly maintain our frugal layoff budget. Its hard but it really has helped me gain perspective.
That is a great plan. It's easy to get used to conveniences and little luxuries (or big ones!), but you are already living with a tightened belt. You will be amazed at how quickly you can save up money now that you already know what needs to be done.
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Old 02-08-2012, 08:55 AM
 
2,379 posts, read 4,303,792 times
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I think I could but it might be hard. My (20 month) daughter is at that age/stage where it seems like there is something to buy every week. Last week , she complained that her shoes were "biting" her so off to Stride Rite for new shoes.
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Old 02-08-2012, 09:44 AM
 
509 posts, read 1,580,984 times
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Quote:
Originally Posted by NEOhioBound View Post
No, and I wouldn't want to either. We are 100% debt free and work very hard so that we have money to do special things with our son each weekend; whether it be drive out to the beach for a picnic, take him bowling or to a movie, a dinner, etc. If our bills weren't paid off maybe, but life is too short and you can't take the money with you when you die.
Agreed!

DH and have substantial savings, no debt, and make very good incomes so we intend on enjoying it. Yes, we go out to dinner very often, see sporting events, take vacations, or just go out for drinks. We indulge in wine, clothes, shoes.

Granted, we're DINKS (dual income, no kids). We plan on trying next year, so right now is our time to really enjoy somewhat 'responsibility free' life, particularly since we are fortunate to be in a strong financial position.
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Old 02-08-2012, 09:50 AM
 
2,259 posts, read 4,328,032 times
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Quote:
Originally Posted by Kibbiekat View Post
The story says no "discretionary spending" for a month. I don't know if going to doctor's appointments is discretionary. Food isn't discretionary either, but certain kinds would be.
This.

There's a huge difference between asking if you can go a month without spending "any" money versus no discretionary spending. I would guess it's much, much harder to avoid discretionary spending if you have kids since a treat of an ice cream or putting them on a ride (even if it only costs a quarter) is discretionary spending. Would be interesting to see people try as it would be a real eye opener how much money actually goes out every month on non-essentials.
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