It’s that time of year again! A time that I actually love – looking ahead to a new year and setting goals and realistic expectations for our household. Budgeting is something we rely HEAVY on! When things fall off the rails, we look back and see what went wrong and how we can improve it as best we can.
Coming off a holiday break and Christmas can be a tough way to end the year in the budgeting department. That’s why I’ve decided to jump on the NO SPEND JANUARY train again this year.
If you missed it, I blogged about it last year – it was a huge success and a great reset for us!
No Spend January has become my new tradition. This month (and even February) should be a time to focus and work really hard to put more into savings.
I’m basically following the same rules as last year…
No Spend January Rules
The rules are as it sounds – do not spend a single cent on anything unnecessary – basically any want or desire. You can obviously spend on all things necessary: mortgage/rent, utilities, TV, internet, phone, credit card bills, car payments, groceries, etc….you get the picture!
Example of items off limits for me – basically day-to-day non-necessities:
- Dining out – EAT IN! (unless it is something that has been planned with friends)
- Coffee shops – MAKE COFFEE AT HOME!
- Fast Food – MAKE LUNCHES AT HOME!
- Clothing – I HAVE PLENTY! WORK WITH WHAT YOU HAVE
- Home Decor – I LOVE WHAT I HAVE! LESS CLUTTER IS BETTER
- Shopping Trips – DON’T TEMPT YOURSELF!
I’m also adding one other challenge – get rid of ONE item everyday – it can be clothing, decor, toys – anything – I want to remove 31 items that are not serving us in anyway.
The challenge can feel impossible while you’re doing it, but it is so worth it in the end! It will make you think twice about making a purchase that isn’t necessarily “needed”. I am so excited to see how much we are able to save this month compared to previous ones!
I’ve shared some budget posts relative to this challenge before, you can check them out!
TIP JAR: NO SPENDING JANUARY – RECAP
BUDGETING FOR 2021
LIFE LATELY: BUDGET REVIEW – SAVINGS CHALLENGE
LIFE LATELY: SAVINGS CHALLENGE – MID-MONTH UPDATE
TIP JAR: SAVINGS CHALLENGE – THE FINAL VERDICT: SUCCESS OR FAIL?
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Those are great goals! A no spend January is never really possible for us since we have multiple birthdays that month… though I do try to plan ahead and toss most of those expenses in with Christmas in December (but that doesn’t always happen!). BUT I do find that we obviously spend a whole lot less. Good luck with your goals– I’ve been tossing things like crazy these last few days and it feels great to clear the clutter.
Thanks, Joanne! I wouldn’t let the birthdays discourage you! I know we have a “GIFTING” budget each month so that doesn’t really count – kind of a necessity! It’s mostly trying to eat in and avoiding useless spending (i.e. grabbing a coffee out because I feel like it!) It does feel great eliminating excess from the house, I totally agree!
I love this so much! I am doing Frugalwoods Frugal January. You get an email each day – it’s totally free – asking you to examine different areas. It has links to really good articles. I am also doing 23 in 2023 where I can only buy 23 new pieces of clothing. I can thrift, though! I also need to declutter so I know what I have and only have what I love. Love this type of post!