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Hard to save when you're not spending

August 17th, 2006 at 06:43 pm

I also add in the money I save using coupons or my advantage card or bi lo card. It is hard to have anything to save if you are not sending. Well, I did at least walk 60 minutes, so i can add $2 to my challenge money.
prev. total $10,327.00
today 2.00
new total $10,329.00
I meant to say spending, not sending.

Posted in $20 Challenge | 5 Comments »

5 Responses to “Hard to save when you're not spending”

  1. flash Says:
    August 17th, 2006 at 09:38 pm 1155850722
    1155850722

    Ima, I'm struggling with this one myself. How do you measure the saving by not spending? A weekly budget? If you have an answer, let me know Smile

  2. Bookie Says:
    August 17th, 2006 at 10:58 pm 1155855532
    1155855532

    I have a weekly cash budget to cover groceries, gas and out-of-pocket expenses. During the no-Spend Challenge I continued to draw my "allowance" and calculated my savings by counting the money left at the end of the Challenge.

    I saved what I didn't spend. Smile For my two weeks that came very close to $100, so I rounded it up and sent it off to the bank.

  3. DivaJen Says:
    August 18th, 2006 at 01:48 am 1155865693
    1155865693

    I thought that was the point of not spending. If you're not spending one day and then going out and blowing more the next day, what's the point of having a no-spend day? Julie - budget in an amount to spend per day/per week for groceries, or eating out. Then whatever doesn't get spent goes to your challenge. Easy.

  4. DivaJen Says:
    August 18th, 2006 at 02:56 pm 1155912987
    1155912987

    I was thinking about this some more - you use envelopes, so if you have a grocery envelope and a restaurant envelope, wouldn't it be clear how much you'd saved over the span of a week (or however long your envelopes are designed to last)?

  5. LuxLiving Says:
    August 24th, 2006 at 01:39 am 1156383580
    1156383580

    Hard to save when you're not spending!

    This is funny ya know!! We should all have such troubles! This does raise another question. I budget spending money for each week...but I try not to spend it because any I can squirrel back I'm sending toward my principal on the mortgage - SOOOOO, since I'm using Jesse's YNAB, do I add that back into the register as income? I think it'll scew my numbers at the end of the year like I actually have made more money than I really did. Having already logged it in once as income, how do I account for this money - I add it back in then wash it right back out to the mtg. company...
    is this considered a transfer?

    I'm confused too Ima!!! Want Jesse to hurry and get settled in his new place so I can ask him!! But Hard to Save because we're not spending is funny!!! I'm shaking my head here!!

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