Hello everyone and welcome back. Can you believe I attempted and completed another no-buy or do without during October? The NO-BUY month started on October 1st and ended on October 31st.
MY GOAL: Save 10% of my monthly budget = $300
During October, I set my own rules as to what I was allowed to buy or not buy during the month with three major changes from my September No-Buy challenge:
- Reduction in the percentage to be saved from 40% to 10%;
- Allowed purchases of holiday gifts;
- Allowed purchase of 1 silver or gold coin or collectible item.
- Food - only dairy, bread, produce, and 3 gallons/each (Blue Bell Ice Cream).
- Essential toiletries and housekeeping replacements. This should be minimal.
- Essential repairs or replacements. (currently working on much needed repair projects)
- 1 takeout each week.
- 1 silver or gold coin; or collectible purchase
- Travel and fuel.
- Holiday gift purchases.
- No new financial or crypto investment.
- No pantry storage stock items for family members.
- No shop-bought non-essential sweets or other treats.
- No ready-to-eat cereals.
- No ceramic antiques, trading cards, comic or other books.
- No new regular clothing, garments, or shoes.
- No office furniture, or regular furniture.
- No household items.
- No new magazine or other subscriptions.
My normal monthly budget categories.
Here is the breakdown of my monthly spending report for October:
|Expense||% of Monthly Budget||Dollar Amount Equivalent||Actual Spent|
|Entertainment||15%||$450 equivalent in monthly spending||$200|
|Investments||10%||$300 in investments (including crypto)||$100|
|Savings||10%||$300 in savings||$100|
|Goal||Save 10% (or $300)||$1,200||$1,000|
|Actually Saved approx 6%||$200.00|
EXPLANATION OF EXPENDITURES
- $200 - Entertainment (take-out food);
- $100 - Investment (saved to purchase 2021 silver coin)
- $100 - Savings transfer offline
- $200 - Other-Assistance helping family members;
- $400 - New/replacement holiday decor. Last year's decor unusable. Also purchased holiday gifts.
TOTAL SPENT DURING SEPTEMBER: $1,000.00
The major change from my No-Buy challenge in September was that I allowed purchases of holiday gifts and 1 silver or gold coin or collectible purchase.
Also an unexpected emergency with a family member in need of financial assistance made an impact on my goal. The amount was more than I had budgeted; however, I was happy to help in that situation and relieved I had the resources.
I had planned to utilize my 10% no-buy savings to invest in cryptocurrency. I've decided to invest an amount in @cublife's monthly buy-in before the 21st of November.
Thanks @shanibeer for this experience.
I actually didn't reach my goal of saving 10%. However, saving 6% is still admirable, and I'm proud of myself for attempting the challenge again in October and completing it.
What do you think of my second attempt at the No-Buy Month experience? Have you ever attempted any challenge such as this? If so, I'd like to hear about it.
Happy rest of the week everyone with whatever your endeavors.
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