No-Spend Week And How I Did

At the beginning of this month, we went over 20 Things To Do On A No Spend Week. The point of having these No-Spend Weeks was to save money for Christmas. And Mama, let me be honest I FAILED with a capital F!

Here are a couple of reasons why:

  1. I spent the money that wanted to save on stupid things.
  2. I didn’t have an actual savings plan.
  3. Emergency expenses came up.

There’s a lesson in my failure, so let’s address each one head on.

I spent the money that I wanted to save on stupid things. 

One day I was talking to my coworkers about getting new clothes for Gia. This talk leads to an idea and this idea lead me to spend a little over $100 in new clothes and shoes for Gia. While this may have been a need, it wasn’t in the budget and it wasn’t planned. I lost control and totally failed. I remember feeling yucky after I came home and looked over the receipts. I thought about taking everything back, but I didn’t. Gia needed new clothes and shoes, she’s a steadily growing girl. However next time I will be sure to add this expense to my budget and plan for it instead of spending on impulse.

I didn’t have an actual savings plan 

I don’t know how many times I saw the phrase, “Make saving money a priority.” I’m sure I’ve seen and heard that several times, BUT I have never put it into action until now. Moving forward I am adding “Saving” to my budget with the amount of money that I would normally spend. SO instead of just not spending money that week, I am actually saving a definite amount. Not having a plan in place meant that I was planning to fail from the beginning, not this time!

Emergency Expenses Came Up 

My car broke down and I ended up spending over $300 to get it fixed! This was an expense that I could not control and that I didn’t see coming. BUT if I had planned for emergencies earlier on I would have had money to cover this expense without breaking my budget or my bank.

So moving forward this is the plan for December and beyond. I plan to :

  1. Save at least $50 bi-weekly. I get paid every other week so I will be sure to transfer $40 into my savings right off the top.
  2. Exercise self-control. If it is not in the budget then I don’t need it. I also need to make sure that my budget is detailed and it includes things like “clothes” for Gia and me.
  3. Start saving for emergencies. According to Dave Ramsey, you should have at least $1,000 saved for emergencies. At first, I thought this guy was being unrealistic and that he wasn’t thinking about the single mothers of the world. However true or false that idea may be, I know that he is on to something. I know that I need to stash away some money for emergencies. Emergencies happen all the time, that’s a given, the only issue is that we don’t know when they will happen. So each month I am saving $100 ( check step 1 if you’re confused), and in 10 months I will have my emergency fund stocked up.

This is my plan, I will pray for it, I will be aware of it, and most of all I will stick to it.

Mama, let me encourage you today, don’t allow your finances to rule over you any longer. Take control of your money! I know it’s hard. But I hope that by me sharing my struggles with you that you’d know that you are not alone. Cause girl, I ain’t perfect and I mess up a whole lot, but I am working on it. I am working on becoming financially free.

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