Since I will be back in school in the fall, I am determined not to take out another loan for this extra year. Im already not liking the student loan debt that Im in and this is only undergrad, smh. So my biggest plan this year is to save up and pay for school myself. I need about $10,000 to cover the fall and spring. Im only taking one class in the fall and 4 in the spring. Actually lets bump that up to $12,000 because I want to take a summer class as well to boost my gpa.
So Im declaring March as a "no spend" month.
-I will not make any purchases, no restaurants, no malls, no EXTRAS!!!
- Im only going to pay my bills at the beginning of the month
- Im going to spend my money on the basics ie gas, food, and minimal extras for my son, which really shouldnt happen because he's well stocked.
- I will be putting all unused money in my savings account and opening a 6 month CD in April to build the money
- I will also stick to my budget as outlined
Also as a precautions Im taking out all of my credit cards from my wallet and putting them away. I have so many things that Ive been meaning to return back to the stores and this month I will do that which is extra money. depending on how this goes I may be doing a "no spend" month every other month. This is going to require some great discipline but this is something that is important to me. So I will updating you on my progress and any temptations Im feeling along the way. Feel free to join along, it doesnt have to be a month but it is a real test to see how much we spend monthly on extras that could be saved.
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You can do it! I Pay out of pocket for school now and I need to buy a new car before I transfer and I'm not a big fan of the car note. So I declared "No Shopping In January" and got my cousins on board too. I did so good! I was so proud of myself! I did but one shirt for a party but that wasn't too bad. Then I reviewed where the rest of my money went for the month (I track every penny spent in my planner) and it was fast food. So I declared "No Fast Food In February" and I did pretty good there too. I spent $80 less than January by marketing more and bringing my lunch and snacks to work.
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