I am addicted to 'Til Debt Do Us Part, and can watch them over and over again. They are inspiring to watch and I always think of these great ways that I can put some of the ideas into action in my own home, then I get stressed out by the work involved and usually end up sticking with my old, bad habits.
This month, Gail has laid out a great challenge for us, and I want to share this and encourage my readers to participate with me!
I have a lot of big things coming up in my life, one of them is selling my house and hopefully purchasing a new place for me and the kids. I have until the end of June (or earlier if the selling price is right), to find a suitable home for my small (large) family.
In the past, I have done a debt repayment, and it was good, because I am currently debt free, but it messed up my credit pretty bad. I don't have a problem with my income, I am able to carry a reasonable mortgage, but my credit needs to be built up so I qualify in that area...or if I can come up with 25% down payment, then I would qualify, regardless of my credit.
So, my personal challenge is on...I know approximately what I should get from the sale of the house, and it won't be enough to purchase a house that will have everything we need. I plan on using my income tax, an insurance policy that I can cash and using this challenge to add to my savings.
Right now, I have completed the budgeting and spending worksheets, and I have actually been doing pretty good so far. I am not going over budget and I am continuing to cut my expenses down as much as possible. Just this week I actually cut my cable!! That will easily save me $50 a month - which will now go towards savings! I know that this challenge is going to challenge my Tim Horton's Iced Capp addiction...But, I am jumping in with 2 feet!! I am going to do this!
I am excited to participate in a twitter party on February 6, from 7-9pm. I am writing down the questions that I want to ask, and am looking forward to some tips on making it through the month living on just cash!!
You can also ask Gail your money questions by hashtagging #SavingMadeSimple!
To participate in the conversation, just follow these quick and easy steps:1) Follow the chat on Twitter by following #SavingMadeSimple, @Chatelaine and @GailVazOxlade2) OR visit Home Made Simple and create a free account in the Scribble Live chat area.3) OR visit Home Made Simple on Facebook to follow the chat from the Scribble Live app on the page.
I will be setting up the jar system and already have the breakdown calculated. I am really going to try to stick to the budget and have money left in the jars at the end of the month. I would also love to get into this habit and stick with this system forever!!
So, who is going to join me? It is not going to be easy, I won't lie to you. It is going to be hard, and eye opening, and freeing all at the same time. Below is a synopsis of what the month will look like. Each Tuesday I am planning on doing up a post with the challenge for the week.
If you are joining along, let me know and we can encourage each other through the "growing pains"...
Each week in February, we challenge you to share the ways your family saves money and makes smart financial decisions. Whether it’s snapping photos while grocery shopping on a budget or tweeting tips that help you save – we want to hear about it! Saving money isn’t rocket science – it’s about discipline and knowing how to make your money work for you.
Each week will be broken down into themes and will be followed by tips, tricks and weekly challenges based on the following topics:
Week 1 – Cash, Cash, CashShare your tips on saving money, being frugal, cutting back on things. I will have suggestions that others may not think of, and you may have a great idea that I wouldn't think of...so, share away!!
Week 2 – Food
Week 3 – Family
Week 4 – Clothes
Disclosure: I am participating in the challenge by my own choice and the outcome and sharing is always my own opinion. I am receiving compensation as part of the #pgmom program. I am EXCITED to share the results and hear your results as well!!
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