canadiandebtgirl

No Spend Month for October?

In Uncategorized on September 23, 2009 at 8:00 am

Anyone up for a challenge starting next week? We are rolling into yet another month, and with Christmas coming up a no-spend-month (NSM) might be just the thing to keep ourselves on track to meet our holiday budgets.

October is the perfect month for us to do a no-spend-month because all of our summer events have finished. We have limited travel to do – just a small trip to the parents for Thanksgiving – and spending some time at home on Christmas crafts would be a good thing.

A NSM means that we only spend money on necessary items such as food, utilities, mortgage and car payments, and of course your debt payments. At the end of the month, anything left over will go into savings or will be snowflaked into the debt accounts.

Keeping a tally on this amount will be the toughest part. It means a lot of the extra lines in the budget should remain full and topped up. No Miscellaneous spending here! Also we’ll have to be mindful of the costs of gas. Currently we drive very little other than to and from work, but trying to conserve fuel consciously may even get us out and active in the evenings!

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