Tuesday, January 31, 2012

No Buy Month is Here!

If one of your financial goals this year is to save more money, participating in “No Buy Month” might just be one way to bring you one step closer.

February is “No Buy Month” as declared by Natalie P. McNeal, author of the Frugalista Files, a delightful book that chronicles how the blogger got out of debt while maintaining her fabulous life. She also reveals how not spending extra money for just one month helped her save a whopping $400 in just 28 days!

No Buy Month is an annual challenge in which McNeal and her loyal Frugalista followers take the shortest month in the year to achieve the largest savings they can by cutting out ALL non-essential spending. Instead of dining out, participants opt to grocery shop and cook at home.  And, this doesn’t include simply driving past the drive-thru; it includes even avoiding snacks at the vending machine!  Professional manis and pedis are out and don’t think about going to the hair salon! If you don’t need it for your absolute survival, you just don’t need it this month!

What exactly can you do? Well, by all means, definitely pay your bills including some of your “non-essential” monthly obligations like cable (no, it’s not a utility, but you made a commitment!), get gas for your car if you need it and if you have a medical emergency, then, eh, do what you have to! McNeal lists the rules of engagement on her site: HERE

In a post on her blog, McNeal shares that “No-Buy Month isn’t a punishment. It’s a chance to pamper your finances and take stock in what you have, want and need.” She goes on to say that “someone once told (her) that the line items in our banking statements tell us where our priorities in life are.  Three years ago, (she) was spending almost the same amount getting (her) hair done as (she) had in (her) savings account. What did that say about (her) life’s priorities?” Wow! Can you relate? Check your last few bank statements. What does it say about your priorities?

So, are you in? Grab a friend or a co-worker to join us and help keep you accountable! I’ll be participating too and chronicling my journey on Twitter (@SeekWisdomPCW) with the hash tag #nobuymonth.

Until Next Time,

Seek Wisdom, Find Wealth & Be Blessed!


CurvyCEO said...

Ok. So I know that I can't do a complete "no-buy" month . . . but I can definitely do a "low buy" month. Baby steps, right? :)

Patrice C. Washington said...

@CurvyCEO Hey, you have to start somewhere! LOL! What about "No-Buy Week?" Every little bit counts! ;)

Anonymous said...

I do this every year for the past few years for Lent - the savings really add up. Right now I've been doing it since January since I'm determined to pay my entire share of my wedding IN CASH...just say no, stay out of the mall, and pay whatever you can in dollars, leave the plastic at home! It works!