Thursday, February 25, 2010

My $5 a day plan/challenge

Ok so last year I watched a segment on Rachel Ray about a women who for one month spent only $1 a day on food. She started with nothing in her pantry or fridge. She wanted to prove that someone could live off a dollar a day and eat healthy foods not just junk.  She said that the first few days were very hard to get through but once she had a few things in her pantry she was able to eat better. I am also reading a book called Not Buying It  Where a couple goes for one year without buying anything that isn't a nissesity they still buy food and gas and some cleaning supplies but they keep it simple, No fancy soaps instead a bar of Ivory, no pre-made food and no going out to eat. I am over half way though and liking some of it and taking other parts with a grain of salt( the author is a liberal and I am a conservative ).
I thought if they can do that why can't I try something similar.  My plan is simple: Every morning I will put a $5 bill in my wallet and leave my debt card at home in a lock box, that $5 will cover everything that isn't a set monthly bill like rent or my car payment. It will be for food, fun and gas. If I don't spend all of that $5 then the extra rolls over to the next day.

I'm not going to the extreams that others have gone to because this challenge isn't to prove a point, its to help me get control of the money I spend. So I will be using what I have in my pantry and fridge and I am not limiting myself to an amount that is so low, I will feel like I am depriving myself of the things that I like in order to save money. I am also not setting a time period to make it through, instead I am seeing how long  I can go before I cave and go on a spending spree.

There will be exeptoins to the rules. I have a CPR class I need to take for work, and I will be hosting a party at the house in a few weeks so those purcheses won't count.

Starting this Saturday.

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