Monday, February 27, 2012

The Guidelines

The following is a list of what I will and will not be spending money on during the month of March. I could certainly be more frugal, but the goal here is not to be completely extreme; it is to challenge myself to spend less than I normally would.

I will spend money on:
  • Mortgage
  • Utilities
  • Internet
  • Cell phone
  • Car insurance
  • Car fuel (minimally)
  • Perishable groceries (minimally)
  • Medical bills
  • Credit card payments
  • Emergency items, as needed
  • A haircut (I haven't had one since September!)
  • Netflix subscription (far cheaper than most forms of entertainment!)
  • Monthly donation to missionary friends abroad (I've been doing this for over a year)
I will NOT spend money on:
  • Dining out
  • Entertainment
  • Drinking alcohol
  • Snacks and lattes
  • Most groceries (I want to see what I can use up in my house)
  • Clothing
  • Make-up
  • Gifts
  • Other non-emergency shopping
I have created a spending budget based on average expenses for utilities, insurance, etc. I am allowing $35 in my budget for fuel (enough for about one full tank at current gas prices!) and $20 for perishable groceries.

Up next: How I formulated my personal budget.

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