Monday, August 31, 2015

Mission: Save - A Two-Month Spending Freeze

I’m sure you’ve seen many posts about shopping bans, like Cait’s, from Blonde on a Budget, or spending freezes like And Then We Saved’s. I’ve decided to do my own version as well.

I need to pay off some major credit card debt, and I need to see exactly how much money I make - without spending it on useless items.

My spending freeze will start September 7, 2015 and end on November 7, 2015. That way I will have enough time to buy gifts/whatever else is needed for the Holidays while also being able to pay off my credit card.

Things I’m Allowed to Spend Money On
  • Groceries ($75/month)
  • Braces (monthly payment of $95)
  • Spotify/Netflix (I use this too much to just stop using it for something short - maybe for a year long spending freeze) ($20)
  • Gas for car ($160/month)

That’s about $350 a month of money I HAVE to spend. 

Things I’m NOT Allowed to Spend Money On
  • Starbucks
  • Fast Food
  • Clothes*
  • Magazines
  • Random stuff that catches my eye
  • Office Supplies - I have enough

I can’t even imagine how much money I spend on all of this. 

I’m starting this challenge with approximately $900 of credit card debt. I truly believe I can get this down in two months. I make about $600-$800 a month at the moment. I could potentially save between $300-$500 a month! That would pay off my credit card and then some!

At the end of each month I will update you on what I have spent money on and how much I have saved and how paying off my credit card is going! Any money left over after this challenge will be going straight to my savings account!

If you want to join my spending freeze as well, please comment below! I’ll link you to this page so that others can find you! 

Coming Up On Operation Twenties:


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