So, new tactics have to start somewhere. My new financial tactic to thwart the small stuff starts right now. From this Monday (September 28th, 2009) to next Sunday (October 4th, 2009), I am going to live on $20.
Budgeting has definitely helped lately, but I need another kick. I need to push myself to the edge and budget my finances on a shorter leash. One of the ways I can do that is to force myself to live on a specific amount of money. For this week, it’s $20.
$20 would go a long way in many parts of the world. I probably could live off of $1, but I don’t want to jinx myself. I really should try to be more strict, but I want to succeed so this is the starting point.
Right off the bat, I am exaggerating unfortunately. There are a few (significant) expenses I m not including. Let me explain my rules:
$20 Budget Rules:
- House Expenses Don’t Count – I am not including rent, electricity, gas, or the internet bill. Those things are in the normal budget.
- Must Use Cash – I am leaving my ATM card at home. This could really suck and probably isn’t smart. Spending on useless stuff is also not smart. I am going to take the risk of getting a flat on my bike and having to walk miles on end. That’s just part of life and budgeting.
- Allowed to Use Whatever Already Purchased – I can use anything I already had. I didn’t stock up this weekend to cheat, if that’s what you were thinking.
I know I could and should probably be more strict with my money for the week, but I think with $20 I can still have familiarity to my daily activities and save money. At least that is what I am hoping.
The Challenges Ahead:
- Gatorade…Iced Tea…Water… – I buy lots of fluids when I am out and about. Well, those are getting cut off. I will need to make sure to bring lots of fluids wherever I bike.
- Groceries – I love to cook. That also means I love to go grocery shopping. I will have to strictly watch this. I am not too worried. Just need to focus while around the gloriousness of the market.
- Half Marathon – I have a half marathon in Sacramento (Sacramento Cowtown) this weekend and I ALWAYS spend a lot when in town for a race. My parents are going to come check out my race so I will have to let them pity muy budget and buy me a Gatorade or two.
- Life – Life happens so hopefully, nothing big hits my $20 budget mark.
So that’s what I am going to roll with. Andrew Jackson is going to be my trusty man (until I break him) this next week. Fingers crossed…
I will update you ll next Monday (October 5th, 2009) with how the week went and whether I failed horribly or if I have found a new budget lifestyle. Stay tuned for more…
LifeEx Action Steps:
Want to be a part of this week’s budget? Here’s how…
- Start with a $20 bill.
- Be strict with yourself.
- Don’t cave to pressure
- Don’t waver
- Sacrifice.
- Write a list of what you will need for the week
- Be happy with small feats.
Have any tips or suggestions? I need help, so spread some love and keep me on track. Comment here…..
Have a good one…
Dave
LifeExcursion
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This sounds like more fun watching you do it than me actually doing it. Lol! I’m eager to see how you do. If you’re able to do it and be happy by the end of the week, then you inspire more of us to do it.
Cheers.
Gordie.
Thanks for all the pressure Gordie….HaHaHa….I have some food already so that is a big help. So far, through one day, I am good. Only time will tell.
Dave
LifeExcursion
Dave,
This post really speaks to me for several reasons. This summer my parents have been giving me 50 bucks a week to survive when I do my 5 day marathon sessions. Of course I didn’t want to spend all 50 , but 7 dollars a day for parking was killing me. Then I discovered that 27 bucks a month gets you a parking pass for the beach. So, I went and bought it. All of a sudden I was limiting my expenses to about 5 bucks a day. I ate Peanut Butter and Jelly for lunch, never went to starbucks, and ate some cheap food in the evening. My parents also armed me with some home cooked Indian food so that definitely helped. I look forward to hearing how this turns out
Great job figuring out creative and smart ways to save. Sometimes a little effort goes a long way. When are you running a marathon? Which one?
Dave
LifeExcursion
$20 isn’t much, especially if you eat out (unless it’s from the $1 menu).
G’luck!
.-= Ken Kurosawa´s last blog ..Never Lose Great Ideas Again with Evernote : A great tool for all Bloggers and Entrepreneurs =-.
I am definitely staying away from the dollar menu. Not so healthy and I can be much more creative. Will update next Monday Ken.
Dave
LifeExcursion
I have tried to do this with my husband…I think I need to tweak it a bit, so he get’s it…I may have to have him hand over the debt…Maybe if we can do it for a week…we can make it for a month.
Good luck, can’t wait to see how you do!
.-= Dawn´s last blog ..Getting back on the path…to happiness! =-.
Thanks Dawn for stopping by and commenting.
My Advice: Worst Case Scenario – You fail… Best Case Scenario – You succeed and continue a great financial lifestyle
Dave
LifeExcursion
Hey Dave, I loved this blog post and your quest to go a week on $20. Please keep us posted on how it goes!
Cheers,
Dayne
.-= Dayne | TheHappySelf.com´s last blog ..Are We Communicating More and Listening Less? =-.
Thanks for the encouragement and glad you enjoyed. Make sure to come back next Monday for an update on my horrible failure or extreme success.
Dave
LifeExcursion
New reader here (saw your comment at Zen Habits). This sounds like an interesting challenge… Keep us posted!
.-= bretthimself´s last blog ..Disarming Logic =-.
Definitely will get an update posted next Monday. Hope to see you all back for the results.
Dave
LifeExcursion
You’re crazy!! Did you know that? But it’s inspiring.
I don’t know if I could go as extreme as your $20 budget… but I would love to try something similar. Maybe try not eating out for a week, or just spending money on the bare necessities.. gas, etc. You post made me think… and want to test myself to be thrifty!
Karen
PS What about your girlfriend? What if she buys your groceries… are you cheating?
.-= Karen´s last blog ..I’ll Never Love Like This Again =-.
My reply to Dawn and now to you:
My Advice: Worst Case Scenario – You fail… Best Case Scenario – You succeed and continue a great financial lifestyle
Dave
LifeExcursion
Good job! I’ve practiced strict spending like this, too, but haven’t tried $20 for the whole week. I’ve just focused on “no-spend days.” And have counted how many I can fit in a month. One month I actually fit 7 in, making it a full week. Thanks for the inspiration to try something like this again!
.-= MoneyEnergy´s last blog ..Caution Urged on US Dollar Reserve Currency Status By World Bank President =-.
7 no-spend day’s is awesome. I have done that before, but I usually book end it by spending more, unfortunately. This way, I will create a habit for a week which may be of success. Today was, but time will tell if I continue this success. Check back Monday for the update…
Dave
LifeExcursion
Awesome initiative! I took a similar initiative buy not buying ANYTHING except for food in all of September. Glad the month is almost over
.-= Financial Samurai´s last blog ..If A Panda Didn’t Look Like A Panda, Would The World Still Care? =-.
WOW!!! You are much more hardcore than me. I don’t know if I could do a whole month even though I probably should be able to. Come back next Monday Financial Samurai to see how I did.
Dave
LE
This sounds like a good challenge. I think it would be impossible to maintain for a long time, but short shocks like this wake us up to the possibility of living on less.
I like to have the occasional “buy nothing day” just to show that it is possible. A one week challenge sounds a little tougher.
.-= John Bardos – JetSetCitizen´s last blog ..Interview with Nomadic Couple, Kelly Hale and Mike Schimanowsky =-.
Hey John….
For me, it’s all about ‘the little tougher’. Challenging myself always brings out the creative side and usually more successful person within. We’ll see how it goes and come back next Monday for the update
Dave
LifeExcursion
Hi,
Came here from Sydney post on Matt’s blog.
And what I see here ? An interesting blog !
I feel $20 is just sufficient for some of the countries, espcially in South east Asia or even in India.
Have done it in India very recently as tourist. Can you believe the amt was sufficient for 2 of us? We could take a hotel room and did sightseeing, enjoyed local food… all within $20.
.-= Nisha´s last blog ..Le Café =-.
Hi,
Came here from Sydney post on Matt’s blog.
And what I see here ? An interesting blog !
I feel $20 is just sufficient for some of the countries, espcially in South east Asia or even in India.
Have done it in India very recently as tourist. Can you believe the amt was sufficient for 2 of us? We could take a hotel room and did sightseeing, enjoyed local food… all within $20.
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