Assigning one day a week as a no-spend day may wake you up to all the ways money disappears, while shoring up your bank account.
A day of no-spending? Could we do that once a week?
I think it would take a ton of planning on our parts. Even thought we have cut WAY back in the last few years, we still get a little willy-nilly with our lifestyle. Not in the spending thousands of dollars way, but in the “I made a plan for dinner tonight and we bought the groceries, but now it is hot and can’t we just got get $1 tacos instead” kind of way.
So maybe we should try this…
Another thought that popped from the article is the concept of a Curveball account. While my husband and I have some savings accounts that are for when we overspend or for a special event that is coming up (like our vacation next week – squeeeeeee!), I haven’t thought of an account like this where the spending is more intentional for things that don’t quite fit in the emergency category. I think I need to convert our “Regular Savings” account into this and start taking money out of it when we don’t stay in budget because a special thing (for which we weren’t able to plan) comes up. I think that would keep us a little more honest.
And, I think that we could be more intentional about how we save. Right now, I have a certain amount of money come out of our paychecks, but what if we tried something like this:
So the next time you save 50¢ on a coupon, go home and drop that 50¢ into a I’m-a-smart-shopper Jar and then deposit all those savings to your Curveball Account at the end of the month.
The reason for the reduction is that we are going on our first real family vacation this month, and this is some of what our savings are for, right? We’d rather deplete those than charge more!
According to MSN Money, our debt-free date is :: January 24, 2013. I have to admit, adding a year to our debt-free date was really hard for me, but it is a real life, not a spreadsheet, so I will be thankful that it is only another year…