What I Learned From The Spending Strike {and final update}

What I Learned From The Spending Strike {and final update}

I mentioned earlier this month that I was going on a Spending Freeze. sorta….

I was inspired from The Spending Strike by Sarah Baker.For 30 days, Sarah and her family vowed not to spend any more (besides the necessities) and find ways to be creative. She wrote about each day and tracked their spending.

Well, January is always a good month for change and finding ways to save money. In addition to participating in my own version of the Spending Strike, I am also doing the 52 week money challenge. Definitely be sure to check that out and join us!

Well… I survived! I have to say that it wasn’t as bad as I thought it was going to be.

Here’s 5 things I learned from this Spending Strike

1- Just because you have it doesn’t mean you have to spend it!

2- I learned exactly WHERE my money was going since I was keeping track of it.

3- I learned that I was not missing out on anything if I skipped a trip or two to Target ( Sarah mentioned that in her book as well!)

4- It takes everyone in the family to be accountable and on the SAME page when it comes to saving money as a family.

5- There are ways to still have fun, still eat well and live a fabulous life on less- you don’t always have to do what others are doing or try to get what they have.

This Spending Strike was definitely a great challenge for me.

Moving forward I plan to-

1- continue to keep a good track of our money, including using the budget envelope system.

2- cutting unnecessary expenses.

3- Continue to look for ways that I can save, but still enjoy a fabulous lifestyle on a frugal budget

4- continue to model to my children about saving money and being patient with money. Working together as a family to achieve our financial goals.

5- Taking time out of for myself to enjoy a little luxury every once in a while.

6- Continue to be open about taking about our finances- which helps hold me accountable

7- continue working on building up our savings and having a different attitude about money

So how did I do?

Well the most money this month was spent on FOOD. My monthly food budget is set for $300. I spent on food, hygiene and supplies= 197.60 (you can see the breakdowns here)

I saved by NOT taking the boys to the Movies to see The Lego movie. We were actually able watch the SAME movie at home– for FREE! You can read my post HERE on how to cut the cord and save money by watching all of that from home. This was a savings of about $60 bucks.

I spent another $40 bucks on gas for the rest of the month.

We bypassed doing Pizza Days on Friday at school (lucked again with another snow so didn’t have to pay)- another savings of $21 bucks.

We didn’t have Pizza Friday at home (where we grab Little Caesars or Domino’s)- another savings of $25 bucks.

Did you do the Spending Strike this month? Be sure to let me know how you did! You can incorporate this Spending Strike at ANYTIME!

Be sure to check out the book The Spending Strike by Sarah Baker. Also be sure to check out our 52 week money savings series to find out all the money save ways that you can do!