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Has anyone decided to try and not spend any money for a whole year or any length of time. Obviously you have to pay bills and food and plan for upcoming bills and whatnot. That is a given. I'm saying no going out to eat, or buying $100 new shoes or at the very least it has to be a very good deal to spend any of your discretionary money.
With the interest rates so low right now (even though they have went up in the past few months!) we want to get a house. Get that rate locked in and start our life together before who knows what happens. Were trying to save as much as possible. Even saving $300-400 a month would be huge to us.
So has anyone tried a month or so of no rea discretionary spending. I will say though that anything that can save money in the future we will buy. If I do need shoes I'm not buying $12 flip flops, but I might try and find some annual sale at a store to get a better deal.
Sure -- we've done slash and burn budgeting, where everything is on the table as a cut. Hubs lost his job.
We were lucky though -- a number of cuts we didn't have to make because he walked into a part time job, but there was NO discretionary spending. Did it for 6 months -- saved a ton of money, and as we realized we didn't have to be so tight, we loosened up a bit.
Far more effective to watch your non-discretionary spending.
We have already cut out most of these type of things. No cable, or a $250 cell phone bill. The reason I'm saying discretionary mostly is because for example this month after all bills and gas/food we will have a
t least $548 to be exact as complete discretionary income. To do whatever we want. It just seems were spending maybe $400 of that a month and might save a a little over $100 for the dog vet bill or what have you. If we spend smarter or start making more home cookd meals and maybe trying to find less expensive entertainment options we could throw that towards something productive.
Quote:
Originally Posted by Themanwithnoname
I've done that.... It's called a deployment.
It sucked.
I LIKE getting a pizza if I want it.
The key is moderation.
We can still get a pizza or better yet make a huge 3 foot by 3 foot pizza than ordering a $15 pizza then getting it delivered plus the tip! It adds up. Or perhaps use a coupon.
Sure -- we've done slash and burn budgeting, where everything is on the table as a cut. Hubs lost his job.
We were lucky though -- a number of cuts we didn't have to make because he walked into a part time job, but there was NO discretionary spending. Did it for 6 months -- saved a ton of money, and as we realized we didn't have to be so tight, we loosened up a bit.
Were both young and have nothing to lose. We could wait years to save up the money or perhaps do it in 1 year. 5 years from now we will be glad we did this. Plus I'm not saying sit at home and be a hermit. Just that instead of going to a restaraunt for $30 and then the movies we take the dog out to a dog trail or we go to a art musueum on a "half off weekday" . Being money smart if you will.
Been there, done that...for years. It is called, putting kids thru college. I had a brief hiatus, for six months...now, three more years. Sigh.
No Starbucks, work, come straight home, go no where--because you spend money when you go places...plan your meals, only shop with a list, only buy food and essentials on list. Take your lunch every day. The Dollar store is your new--go to place--
The up side....you save money, and get all those projects done at home. Go thru stuff, have a garage sale...
Last edited by jasper12; 07-08-2013 at 07:54 PM..
Reason: Edit
I did that for a couple of years. I didn't spend much money right after I graduated college and lived with my parents for a couple of years. I didn't have any housing and food costs since they covered it. I banked a lot of money.
We can still get a pizza or better yet make a huge 3 foot by 3 foot pizza than ordering a $15 pizza then getting it delivered plus the tip! It adds up. Or perhaps use a coupon.
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And someone else will say discretionary spending.... Because you could of had rice and beans!
Or someone else will say they already bake their own...
My point:
If you want to live a little tighter and save some money.... I'm all for it, but what the OP proposed.... Not so much.
Even worse, like a bad diet you are more likely to splurge "because you earned it"
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