Spending Less to Spend More

Hey guys, so recently I've been doing pretty bad with spending money and being able to take control of my spending habits. It's been getting really bad to the point where I don't have any money left over at the end of the month. If you didn't know, I am a teacher and get paid once a month! Since I get paid once a month I really have to know how I handle my money, and I do a good job of paying my bills first and not spending that but it's what is left over that I get into trouble with.

So, what I have done is set myself a challenge to go into what's called a spending fast (http://andthenwesaved.com/about-the-spending-fast/).  I was able to do this spending fast last year and paid off my credit card debt of around $4,000.00! Unfortunately my bad habits got the best of me and now I am back at around $1,500-$1,600 in debt. That'ts not my only debt, I also have a school loan and a new (used) truck payment.

I know I can do this again and I need to. I cannot be this way forever and If I want to live what I strive and desire for, La Vida Libre aka The Free Life, I need to be able to show that. There are so many things that I feel I am holding back from because of my debt and handling of my money. I don't want that for myself anymore. I want to have the feeling of being liberated and free to do and go wherever I want without restrictions!

So my plan:
1. Pay all bills first;
-Rent
-Food
-truck
-insurance
-phone
-credit card
-school loan
-Texas surcharge

2. Cash out $100 for the month. Yes, only $100 for the month, but I need to do this! This is also part of the spending Fast, or maybe the Spending Diet? I'll look it up to be sure.

3. DON'T spend money on food, snacks or unnecessary things.

What I’m NOT spending money on (My Wants):

Gifts (sorry friends and family… homemade crafts or re-gifting will be happening. Hopefully you all like macaroni magnets.)

Coffee at coffee shops (sad face)

Clothes (remember: “Make Do & Mend!” and in honor of that I need this. haha!)

Eating out

Movies

Coats (see Clothes above)

Shoes

Bed linens

Towels

Decorative house stuff

Fancy haircuts at fancy hair shop

New music from iTunes

3. Save what I have left in my account and put it into my savings account or, just don't touch that money that is left over.


I will see how this goes for this first month. I know it'll be super tough but it'll be worth it. I'll keep you updated on how this is going! The reason I am putting this out here is mainly so I can keep myself accountable to this plan. Pray for me!