Let’s start by clarifying the no-spend vs low-spend goal. With a no-spend goal, the goal is to spend no discretionary finances. That means nothing above the monthly expenses. With a low-spend goal, the goal is to limit the spending of discretionary finance.
Monthly non-discretionary expenses would include mortgage/rent; insurances; car payment; utilities; student or other loans; prescriptions and health expenses associated with diagnosed health issues; other items that have a commitment that is not just for our pleasure.
Discretionary expenses would be things like food (we will visit this one later on); car gas; entertainment; clothing; recreation, etc.
I have set, monthly expenses that I cannot change. There are others that I can change. For example, my electric bill will probably go down now that I am not running the A/C. But, it is getting darker earlier so I may have my lights on longer. But, I work 3:30-midnight, so it will only affect 2 days out of the week.
The other expense I can definitely control or change – or both! FOOD. Let’s face it – I love to Eat. I love good food, and I love to cook. I did Sun Basket for 4 shipments and decided it was just not justifiable. Perhaps I could not make these dishes cheaper, but – challenge on!! I also know that I am very susceptible, when in a grocery store, to overspending. I am tempted to buy this, try that, or just see that yellow SALE sticker and throw it in the cart! I will be really paying attention to this for September.
I have a well-stocked pantry and freezer. For a single person, I actually have way too much food. So, time to get to work on the reserves.
Stay tuned for some unique creations!
My starting place for September:
Money on hand – $3837.13
Rent paid – 739.28 (this includes: water, gas, sewer, trash, pest control, parking space, ‘admin fees’)
Balance – 3097.85
I get paid weekly, on Friday. I also get a VA disability check each month. Some of this money will be used to pay off the remaining credit card debt. This is an expense that falls into discretionary expenses before you use the card. It is non-discretionary once you use the card and then owe the money.
Join me on this journey. The goal, by the end of September, is to have no credit card debt. My 4-month-out goal is to have my car paid off. Challenge on!