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Monday, January 31, 2011

No buy February...

With the Personal Incomes and Outlays report coming out this morning showing an increase in spending, increase in costs (i.e. taxes) wages flat and savings dropping dramatically an idea that is spreading on the web seems rather timely. No Buy February.
This weekend I heard about Xan’s No Buy February Challenge. Since I’m a big fan of saving money and being thrifty I joined up. Mr Chiots and I did a no buy year 5-6 years ago and it was a wonderful thing, it really helped us get off that treadmill of buying stuff we didn’t need only to get rid of it a few years later and replace it with more stuff! It was a turning point for us financially, it really made us think about needs vs. wants and as a result we were able to pay off our house last year.

I'm going to give a try and see how much I can save. The real trick will be trying to push the idea onto my teens. Prepper wise, this is probably a good way to rotate through some items, as well as, getting a feel for how dependent we are on the easy supply of items in the different stores.

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