We were on a Spending Diet in October and it was successful as we reduced our spending by $500. Although that $500 was quickly eaten up by sudden car and household repairs.
From our experience in October, I learned that the best way to be successful at a Spending Diet is to AVOID THE STORES. Not surprisingly, avoiding the big box stores is a goal of mine for 2010. I will write more about that on January 1st.
Another key to our success in October was reducing our grocery expense. In October, we reduced our grocery spending by $125 by planning our menus and using food in the freezer and pantry.
I will buy our basics, like dairy, eggs, oj, fresh fruit and veggies, but I want to really stir up those creative juices and see what kind of menu I can come up with from items in my pantry and freezer. I don't know how long my pantry/freezer will last me. I don't think my stockpile is as extensive as other people taking the challenge, but I will go as long as I can. My goal will be to reduce our grocery bill down to $300 for January. Our grocery budget was $500 back in October, but because of the success we had that month, I reduced our grocery budget going forward to $400. Can I reduce it even more to $300 for January?...we'll see!! This will definitely be a challenge and take some planning. The difference of what I reduce my spending to and my budget of $400 will be divided in half. I will give half to a local food bank and put the other half in our emergency savings account.Would you like to join me on a Spending Diet in January? Are you participating in the Eat From The Pantry Challenge? Are you up for a challenge? Good Luck!!