Wednesday, February 1, 2012

$100 budget challenge

Court and I have been talking a lot recently about finances and saving money. We aren't BIG spenders by any means, but we could be much more careful with our money. We would really like to buy a home again and need to save a sizable down payment. SO we are going to buckle down, be smarter with our money, and hopefully be in a new home within the next year!!

To kick start our better budgeting and less spending we are going on a $100 "extras" budget for the month of February. We obviously have our bills to pay, groceries, gas, etc... This $100 budget is for all of the extra stuff. As we have been going over our budget and spending habits we have realized that we spend too much money each month on JUNK... eating out, little trips to the gas station here and there, random things that we really don't NEED, etc... SO this month aside from our regular bills and expenses we will ONLY be spending $100. Any eating out, family activities, date nights, craft projects, trips to the gas station for a treat, redbox rentals, clothes, valentine cards & treats, etc... will have to come out of this $100 budget! Eating out is definitely one of our biggest money wasters, so we will be eating-in most of the month!

I don't think this will be easy for us to stick in this $100 budget, but I know we can do it if we are really careful!! I am hoping by doing this we will not only save money, but time as well since we will really only be going to the store for gas and groceries!

With this small budget I have come up with a few ideas on how we can stretch our money further this month and still have lots of fun as a family!

*Homemade Valentine dinner
*Date nights at home (put the kids to bed early, make dinner together)
*Trade baby sitting with friends / go to the temple (free date)
*Swim at the rec-center as a family (we have a family pass, so no additional cost)
*Go to the Library -check out books/movies -attend story time/classes/puppet show
*Play at the Children's museum (we have a pass, so no additional cost)
*Go to another rec-center in SL County (included in our pass, so it will be free)
*Visit Temple Square and Visitors center (free)
*Go to the dollar movies on discount day (.75 cents per ticket)

STAYED TUNED TO SEE HOW WE DO! I will share how we end up spending every last penny of our $100. Wish us luck :)

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