No Spend July

Monika told me the other day about a blog she had read about "No Spend July" and we decided we were going to do it with them! First, the blog we got it from is smallnotebook.org and if you search for "no spend July," you will come to her posts from last year.

I recently went through Dave Ramsay's Financial Peace University and then relayed everything to Josh. We won't do everything he talks about, but all of his cash envelopes, budget set-up, and ways of paying off debt we will try to follow. The first baby step is getting a $1,000 emergency fund, and that is what our "no spend July" is going towards.

We are actually starting ours July 8th because we will have a friend in town and also a quick trip to Muncie, so not spending any money that week isn't possible! We are hoping do this through the first couple days of August. Basically, all you are allowed to spend money on are your bills, gas (but limit it) and groceries (get out limited cash for the month). There will be no eating out, no dates (unless free!), no traveling, no extra activities, no shopping!

I think there are two things we are wanting to get out of this experience. The first is how to live simply. What can we truly go without? What things do we under-appreciate in our lives? What things do we do in excess?

And secondly, we are wanting to jump-start our Emergency fund! This is a great way to be able to put aside the money for something specific. My sister is saving it for a trip with her hubby for his birthday. Why not use the money for Christmas? Or maybe a trip? Or maybe you need to just put it in savings for those car tires you know you will need soon.

Want to join us? Challenge yourself! Maybe you only do it for two or three weeks, but try it. Let me know if you are because I would love to hear stories! I will try and update each week on how we are doing.