By, Nicole Crimaldi
Thanks to my admitted love of all things fabulous, I’ve decided it’s time to get out of my comfort zone with money.
Last month, I took the time to get a little more intimate with my mint.com account and noticed that my spending was out-of-control, especially in certain non-necessity categories…
Therefore, I’m challenging myself and all of you readers to the “Don’t Go Over in October” challenge.
Rules:
1. Participants are forbidden from spending any money on shopping for the month of October. The definition of “shopping” includes but is not limited to: new clothes, shoes, books, accessories, spa treatments, hair/nails, house wares, games, makeup, last minute travel, and anything else you probably can’t afford.
You ARE allowed to buy gifts and necessities. And, to clarify, manicures and highlights are not a necessity in this particular challenge. (Damn, I know.)
2. Participants must create entertainment and food budgets on mint.com and not exceed them.
3. You cannot spend more than you can pay off. Sounds simple, but most young adults today are spending way more than they earn each month.
4. Participants must share their shopping detox experience at least once a week in blog posts highlighting things like: temptations, stories, moods, realizations and ways they’ve lived without.
Purpose:
1. To develop new money habits.
2. To prove that the sky won’t fall if you don’t get a pedicure and buy new shoes this month.
3. To learn that you can still have a great night out without sipping on several $10 martinis…
4. To save a little money for once in your life.
5. To depend more on your fabulous personality and inner self-confidence than on what new things you are wearing.
6. To eliminate impulse and emotional buys- two of women’s biggest spending traps.
How to Get Involved
If you could use a financial “cleanse” and would like to share your experience, email me at nicole@mscareergirl.com.
Participants are welcome to remain anonymous in blog posts.
Highlights
•Blogger Whitney Middleton of www.fauxshionable.com will audit my closet to put together some new fall looks from my existing wardrobe without leaving the house or spending a dime. Maybe she’ll even do this for you if you’re nice.
•You will probably become hooked on mint.com by the end of this challenge if you aren’t already thanks to mint’s easy automation, email alerts, and budget reminders.
•You will learn that being a blonde shopaholic with ADHD (i.e. new purchases easily distract you, staying on a budget is almost impossible, and keeping track of payments is a job) will not stop you from saving more, spending less, looking fabulous and reaching your financial goals.
•Guest posts and tips from top personal finance bloggers and authors.
•And- I’m working on a grand prize for the person who doesn’t “relapse” on their spending!
Get your spending over with in September and get ready for the challenge!
{ 11 comments… read them below or add one }
I’m totally going to do this. I’ve been laid off since April and need a reality check cause I still spend like I’m employed!
I would like to SAY that I’d be willing to do this, but I feel like this is pretty much what I’ve already BEEN doing for the past month so its time for a break! I’m ready to get my shop on not gonna lie. . .
I hate having such expensive taste. I know at the end of the day having the latest Marc Jacobs fragrance isn’t essential, but right now it seems pretty important.
Count me in! I’m moving in November so I need to save as much money as possible leading up to it!
count me in!!! I’m studying for the praxis exams to make a big career change in November so it’ll be nice to focus on something aside from shopping.
Doesn’t hurt that Hubs and I both lack jobs and I’m working part time, and we’re living off reduced rent and unemployment and wedding money….a budget never hurt anyone
I had to sit and contemplate this. I will be joining in. *breathe*
i have a shopping problem BUT i NEVER spend more than i can afford so is it really a problem?
Kathy,
I agree that if you never spend more than you make and you are still putting money away in a savings account, you’re doing awesome! Go girl!
Nicole
*Deep breath* Okay, I’m doing it. *Another deep breath*
Thanks to Heidi I’m in too. I definitely need to start saving for my move to Denver (fingers crossed)!
What a great challenge! You have a wonderful blog!
I just came across this today- such a great idea! I started using mint.com a few months ago, and it’s changed how I spend my money. It made me so guilty and aware of how much I was spending on entertainment, food, and clothes. At first I would dread logging in and seeing how I was doing, but now it’s kind of exciting to see how much I’m able to save, and how responsible I’m becoming with money.
I’m going to start your challenge, are you going to continue it in November?
Good Luck to everyone!
-Jillian