My Spending Strike

Earlier this week I announced that I am going on a spending strike during the month of April, now its only been two days, but I have not spent a dime on anything. What is even more exciting is that one of my favorite websites, Cindy's Porch, announced a similar spending challenge "How Low Can You Go?" The saving bug must be in the air, to quote Cindy's Porch "April Savings Bring May Dollars" and I am in that kind of mentality. And go and check out the website and let me know what you think, the link is on my blog.

When I told a couple of buddies about my spending strike, they asked me, "does this mean you will not buy any food for the month of April?" What a silly question I thought, but the more I thought about it, the more the phrase needed clarification. For me the spending strike is when I do not spending any money on items, things and/or stuff that are wants and only buying lunch once a week. No spending actual with cash or credit for items that re not considered a necessity of life. I will be picking up the basic groceries for my household (bread, milk, egg and deli meats) and if we run out of toilet paper I will pick that up too! So day 2 is over, but my biggest challenge will be the weekend. I did have one dilemma, I have a Kohl's Cash in the amount of $10.00 (expires on April 8) and I also have to return an article of clothing that did not fit me well. So after much thought I have decided to buy a new handheld can opener, the one I have is literally falling apart and its hard to open cans with it. The can opener is 9.74 and with tax it will come to 10.42, I figured since I am return and item that is 21.99 I am okay with spending the extra .42. Wish me luck on my strike!!

My Net Worth and April Challenge

I decided to find out what my net worth was and I am so sad to report that I have a negative net worth! Why do I have a negative net worth, well one of main reasons is the automobile loan and the other is simply I do not have any substantial assets, I do not own my home and I do not have much in savings. With this said, I have realized that I need to be a bit more proactive and aggressive toward my debt repayment plan.

For the month of April I am going on a spending strike. Anybody want to join me?