I have made no secret about the fact that I am finding December difficult, finances wise. Money seems to be leaving ever day with no end in sight! Part of the problem is that I haven’t been as organised about Christmas as I have in previous years, plus now with two children it seems like we are adding a lot more into the mix.
But, our finances have been a bit muddled for a while. I haven’t been tracking our spending as well as I could have been. When I go to the supermarkets for milk/fruit/nappies, I end up buying lots of little extras that add up, quickly. Something I never used to do! It’s just a bad habit I’ve got in to.
I have also noticed that when my finances don’t feel as controlled as normal, then other areas of my life seem to go downhill too. Things like eating healthily, not snacking between meals, even keeping the house tidy. It all seems to go hand in hand. When I’m in control with my own spending habits, everything else seems to follow suit. Is it like that for anyone else?
So, I have been doing our budget forecast for next year and it looks okay. Not quite as much wriggle room as I’d like for some categories but fine. And that’s for one big reason: we’re having an extension built next year. It’s been in the works for ages and we now have a start date. I am so excited, and cannot wait for it all to be done. But, obviously, this is going to have a significant impact on our finances.
With that in mind, I am seriously contemplating attempting a no spend year. Having a total reset with our finances, watching every penny and really stripping back just where our money goes, and more important why. I think that this past year has been quite tough for many reasons, and again that is reflected in our finances.
I love the start of a new year to start afresh; I’m in the final stages of putting together a 2019 budget planner, with every month mapped out so I can write down everything. Yes, I know there are budget apps that can do it for you, but I like the paper-and-pen method. Nothing more glaring obvious about overspending if you’re writing a lot down! To me, that has a bigger impact than typing something.
So, can I really do a no spend year? I am going to mull it over this weekend and see just what I might consider during the process. I’d love any input though – what do you think? Am I mad? Should I try it? Would you? Have you? So many questions! Please leave a comment below – help me decide 🙂
Follow me on:
Facebook | Twitter | Instagram | Pinterest
I have been seriously considering this as well.
Have you read The No Spend Year by Michelle McGagh?
One of the things I will be doing is trying to be present neutral by using sites that reward you in Amazon or Paypal to cover my present/card list. I also have lots of card making stuff so will be using that to make family cards.
I haven’t read that so shall have a look 🙂 I love the present neutral idea!
I actually found that you could get most of the information in her book in articles/talks that she’s done. So if you did that, you’d have saved money already!
If not a nospend year, you could do something like the compact, where you buy used if you buy. Think hard about rules and exceptions and allow yourself to rejigger the rules after a month (rather than giving up). I love reading about no spend months/years etc.
That’s not a bad idea either! Lots of things to think about 🙂
I like the idea of cutting down deliberately. I don’t know if no spend year is doable with two youngsters.
Our food budget is out of control and that will be my focus for the start of the year.