Friday, October 5, 2007

Reduce A Bill Challenge

Mom of 3 over at Working for Financial Freedom is having a reduce a bill challenge which we can all join in with her ,she is doing the Reduce a Bill Challenge where she will be line drying her clothes so that she can reduce her electric bill.Lynnae over at beingfrugal just successfully completed a challenge with her family by not eating out for an entire month and has inspired Many of Us! I am challenging myself to see if I can make 10 no spend days this month.I averaged it out and figured that everyday we spend money it is a minimum of $5. Each no spend day I am going to mark on my a calender for a reminder and each payday I am going to take out that specific amount of $ saved. So, if I have had say 4 no spend days by payday I will set aside $20 and then wait for the next payday to see how many no spend days in which we have had.

We need to beef up our emergency fund, at least get a little something in there. Once we have our baby emergency fund of say $500 I will then focus on using the no spend days $ to go towards our debt.

This is truly exciting! Today is payday and yesterday was a no spend day so I will take out $5 and transfer it to our ING account for our emergency fund!

I can't wait to see how this goes :)

2 comments:

Making Cents of Debt said...

Thanks for the inspiration Heather! I look forward to building that emergency fund with you!

Heather said...

WoooooWhooooooooo, I am so glad you are joining in! :)

Heathers doing the Happy Dance lol :)