We don't plan it, but Pam and I seem to always be thinking about the same thing! Yesterday she wrote a great post about her plan for spending money wisely, and today I want to talk about really saving money for a lofty goal...
...to pay for our house this year, or at least make a huge dent in the mortgage. We have no other debts, so the only way to make room in our budget for bigger and better things is to banish the mortgage payment. Yes, we did just buy the house in July, but I'm already tired of this monthly drain on our resources.
We don't live that extravagantly now, so making cuts is going to be severe. I am designating one night a week as "Beans and Rice Night." It's much healthier than other options, and it's much less expensive, too. We will also have a soup night. Other than that, I'm going to really menu plan this year, and stick to the plan. No more emergency runs to McDonald's when I forget to defrost the chicken, either.
Trips to the mall or Target? Fewer and farther between, and I'm not going without a list. I've already managed to escape my post-Christmas spending frenzy in the clearance aisles, so this may not be as hard as I thought! I'm not buying anything without asking the question, "Is this [piece of junk I won't use a week from now] really a fair exchange for financial freedom?"
Now the big one: I'm leaving my big purse at home. I carry it so that I can fit my cash envelopes, coupon files, and gift card files with me in case of a shopportunity. Guess what? I tend to shop when those things are with me. No more. I don't leave the house without a plan, and the plan will include the cash I'm going to spend as well as anything else I need for that trip. No more side trips to the Dollar Tree. No more meandering through the garden center at Walmart "just to see what they have." No more spending money on silly or unnecessary things.
So, we're cutting to the quick here, and hopefully we will see a happy return. It is a little extreme, but as Dave Ramsey says, "live like no one else so that later you can live (and give) like no one else." Do you have any extreme frugal tips? Let's hear them!