We’re officially into February! And that means it’s time for 2024 No Spend February with a Life on a Dime. This year marks the fifth year we’ve done this challenge on a Life on a Dime. This post will outline this year’s guidelines.
I’m going to be perfectly transparent here and say this month is starting out to be quite expensive. We have a car in the shop, with $500 already spent and another $1500 or so before it’ll be repaired. Our auto fund is not sufficient for these expenses so we will be digging into savings, possibly using the credit card for a portion of the expense. We don’t like it, but it’s okay and necessary and still cheaper than purchasing another vehicle.
2024 NO SPEND FEBRUARY (SORT OF): WHAT WE’RE NOT SPENDING MONEY ON THIS YEAR
LIMITED DINING OUT
During No Spend February, the goal is to only dine out twice, and both times on the weekend. That’s typically when we’ll take the kids out to eat for breakfast or lunch anyway. There will be no fast food trips unless the kids are spending their own money or gift cards.
REDUCED GROCERY BUDGET & ONCE WEEKLY SHOPPING
Sometimes I don’t get everything on my list, and other times I forget to include a few things on said list. Occasionally I will make a second (or third) trip for those missed items. When that happens it’s rare that I only walk out with those few items.
Those few missed items, gas, and time spent making the extra trips all add up. So, for No Spend February 2024, I will make my list and go grocery shopping weekly as usual, but will NOT make any additional trips to the store for odds and ends that should’ve been on the list.
We’ll get what we need the first shopping trip or alter the meal plan if we don’t. And speaking of what’s on the list, several items won’t be on the grocery list; we’ve increased spending in this area and I need to get it back under control.
I do not plan to purchase any of the following items:
- store deli-prepared meals or sides
- processed snacks for school and after-school snacks (no Oreos, goldfish, etc)
- salad kits or bagged or boxed single-meal side items (microwavable rice, boxed potatoes, etc)
- soda
NO CLOTHES OR OTHER SHOPPING
For this year’s no-spend challenge, there won’t be any shopping for clothes or other nonessential items. If it isn’t broken, it’s not getting fixed or replaced. I won’t even visit thrift stores.
I love going to thrift stores and perusing through cookbooks, self-improvement books, and memoirs. It’s always thrilling to find a book that’s been on your library wishlist for a while – especially at the bargain price of $1.99, $2.99 if it’s a hardback.
But in a month where decreasing spending wherever possible, thrifting isn’t gonna happen for me. I never know if I’ll walk out empty-handed, with $50 of clothing for the family, or, a bagful of new (to me) books. So I’ll just avoid the temptation altogether and catch up on my to-be-read stacks at home while I wait for my library holds to become available.
NO-SPEND EXCEPTIONS:
This year’s exceptions are almost the same as last year’s. That almost is a pretty expensive one though.
- sports gear – both kids start practice in March and will likely need the next size up in something compared to last season
- Valentine’s Day traditions
- car repairs
IT’S WORKED IN PREVIOUS YEARS, SO THAT’S WHAT WE’LL STICK WIth NO SPEND 2024
My goal this year is really just to cut back on the food budget since it’s the easiest thing to get out of whack. I would like to increase our savings, but we’ve been doing a good job of that anyway recently, so I’m not too worried if this month gets away from us.
Are you joining the challenge? Let me know in the comments or on Instagram. I’ll see you in the next post. Until then, good luck with your no spend challenge!