Sunday, August 1, 2010

How To - 30 days Towards Saving Money - Part 1

Hi Friends,

Have you ever heard of 30 day challenges?  For the next 30 days I am recording where every little penny goes in this house.  It is easy to shop at a super store for food but also buy hair care, pet food, school supplies and more.  Then I don't keep track of how much I exactly spent on food for the month.  For 30 days I'm keeping a very detailed record for my own information.  I'm curious as to how much we do spend as a family of 5 (all adults really because we have 3 teenagers) on food.  I'm also curious as to how much we spend on frivolous items.  I've never been very diligent about doing a budget during our married years, but I have certain goals in mind.  One of those goals is getting our house paid off and I'd like to do that in the next 10 years, a goal I think is do-able if I get everyone in the family on board.  I've always had a "good idea" of how much we spend on food, entertainment and so forth but not down to the penny.  I've always had a limit as to how much we spend on gifts and so forth but again, not down to the penny.  I'm curious.  I'm wondering what I'll find out and if I'll discover ways that I'll be able to save money.  I've always considered myself a frugal person, but where can we cut back more?

I ran across some Christian podcasts that had Dave Ramsey speaking.  He really is a motivating man.  Want to know something interesting?  I did the Dave Ramsey envelope system before he even developed it.  Years ago as a high schooler, many MANY years ago, I remember having envelopes where I would divide up my babysitting money.  I remember very specifically putting a percentage of each babysitting payment in various envelopes that would go towards different things I wanted at the time.  One of those was an envelope to go towards purchasing a typewriter!

I'll report back in 30 days after I've had a really good look at our expenses and at that time I'll share with you Part 2 of my plan.
Anyone else want to record their expenses with me this month?
Have a wonderful and creatively frugal day!

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K said...

I may join you in this :) We are looking at a vacation in october and are looking to save as much as possible for it!

Kelly said...

Count me in! I have got to get a handle on the way that money seems to fly out the door! I am certain this is going to a huge slap of reality!

momstheword said...

This is a great idea. My mom has done this for years. My hubby and I used to do it and we really need to start doing it again!

Marie said...

Hiya, I'm your newest visitor from the Blog Hops. Very cool blog...looks like I'll enjoy reading your posts. Would love it if you stopped by The Things We Find Inside Thanks


Me 'N My Monkeys said...

just stopped by to let you know, you have a new follower.
i found your blog on Bloggy moms..

what a great idea, i might have to try this..

*Crystal* said...

I'm on board! I have been wanting to this for a while but every time the first of the month comes around I forget!

halfdozendaily said...

I'm doing the exact same thing this month! Saving all my extra pennies and tracking all of our expenses! Good luck! Looking forward to hearing more about your month! :)

Johnnie said...

Hi! I am following from Friendly Friday. Great idea. I will join you in this challenge. Should be interesting. I will be back. Have a fun weekend...

SH said...

Great Post ! Visiting from FF. Hope you'll stop by sometime


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