Blessings From A No Spend Month

Each and every time my husband and I do a no spend month, I am amazed at how blessed we truly are.

.......and another realization I have is, why don't I utilize this blessing each and every month?

Hubs and I received his paycheck this morning, so I paid/scheduled bills.  His paycheck was smaller than normal.  Huge bummer, but I began paying bills and was able to pay all our bills AND about $150 in addition debt.  AMAZING!

God blesses you in great ways.  Please do not waste/ignore the blessings he has showered upon you.  I know that I will try my best to use the blessings I have received for Him!

No Spend Month

We have entered our 3rd no spend month!  YEAH!

Hubs and I have restricted our spending to no more than $250 for the month, which is only about 25% of our variable spending during any other month.

It will be a challenge, but let's see how we do!

Here is an update on the last couple of days, I will try my best to update daily...but, things do get a little crazy around here. :)

1/1 - $0
1/2 - $15 (ice cream sundae toppings, ice cream, cheeries, milk)
1/3 - $28 (christmas presents, bread, bacon, soda)

So far, our total is $43/$250.  That number is higher than I would like, but....hopefully we will have no need to run to the grocery store for a while!

Although, I just remembered we are out of potatoes....oh well, meals will get creative this week! :)

Was the $43 ONLY for necessities, umm....no!  But, I justify the expenses.  The $15 was spent on an ice cream "date" with some good friends of ours (I fed 10 people ice cream sundaes for $15!).

Secondly, in order to comply with my goal for 2013, I have begun Christmas shopping with rewards/giftcards....all of which I got for free!  I have purchased 4 gifts, so far, and I have only spent $0.40 on gifts.  AWESOME! Oh, and I still have $29 in rewards/giftcards to spend on future gifts!  I will be shopping!!!  :)

And, the bacon is for my favorite Daddy!  He loves bacon wrapped little smokies, and I am making him some for our Christmas get together this Saturday!

Are you doing a no spend month?  Will you join me?  It's not too late!

Plan for Future Repairs

So....today we had a homeowner fatality.  Our water heater is no longer working (I am dying for a hot shower).

We quickly called a local plumber, and he was down to our house in 10 minutes (can't bet small town service!).  Thankfully, most of the cost for replacing the water heater will be covered under the warrantee (we just have to pay for labor).

But, this "loss" reminded me of a spread sheet I created (I actually made it even before we purchased a house!).  This spread sheet lists the average life expectancy of different appliances/structural items within your house (follow the link for an even more detailed list of appliance/home life expectancies), as well as the average cost to replace.  Then, I broke the cost down into a yearly total, and finally a monthly total.

Most people don't even think about future costs/repairs...but, you have to be prepared so you do not find yourself turning to a credit card (or worse yet a pay day advance!).

Take the above spread sheet and incorporate this into your budget for 2013.  Using the averages (the life expectancy/replacement cost is all based on the average life/cost, your actual cost may be less or more) to help you prepare for the unexpected.

Oh, and don't worry.  You don't need to back date for "older appliances".  The likely hood of you having to replace all these items according to the life expectancy is rare.  Just start saving the monthly total, and you should be pretty well set for when items need to be replaced.

Also, you can easily customize this spread sheet to fit your specific needs.  For example, if you have your eye on a particular dishwasher....replace the average price with the cost of your "wish list" item.  The total will adjust accordingly, so you will have a better grasp on what you will really be spending when it comes time to replace your appliances.

E-mail me at jennifer.overy@gmail.com if you would like me to send you the spread sheet.  :)

Added tip! Check Craigslist or similar sites in your area to find slightly used appliances.  You will save a TON!!!!

Also, if you are not yet a home owner, please take these numbers into consideration. Your housing costs should not exceed 35% of your income. That's mortgage, insurance, property taxes, utilities, AND repairs.

Financial Success in 2013

I have been thinking a lot about our finances over the past few weeks, and feel more strongly than ever that we need to be completely debt free, including our mortgage.

Now, I know this isn't something that will happen quickly....but, we have a goal of having our 30 year mortgage paid off in 15 or less. Hopefully a lot less! :)

Anyway, while I have been strategizing ways to make this dream a reality, this question arose: How many "no spend days" can we have in one year?

I am going to challenge my family in 2013 to spend money on no more than 100 days (fixed expenses not included). Will you join me?

This includes groceries, gifts, clothing, etc. Basically, anything that isn't a bill (fixed expenses).

Trust me, you will force yourself to plan your meals, discover alternatives (for example, I was short one egg for banana bread the other day but I found an alternative online!), and in doing so.....you will spend less!

Do this exercise...bring up your bank statements for the last 3-6 months. Then calculate how many days in that time period you spent money. Once you have this number cut it by 1/3 or even 1/2....then adjust the number to apply to the entire year.

Everyone wants financial security, why not take steps to make 2013 the best year ever (financially speaking, of course). :)

Image was found via Google at this location.