End of (wallet) watch

It’s over. I did it. I survived.

Throughout the month of April, I participated in the Wallet Watch challenge. It was essentially a make your own rules no spend challenge but rather than a strict “no spend” rule, you could allow for certain purchases. Because I cheat at my own rules, I had to be strict with myself and set up parameters that I had to follow. Giving myself leeway is a gateway down the spending rabbit hole which sort of defeats the whole purpose of the challenge. 

I set up 6 rules for myself that allowed for savings and spending on certain items but also made sure I paid attention to where my money was going. 

Rule #1: Use coupons

I don’t really know how to analyze this one. I don’t really actively look for grocery coupons because I’m lazy but if they happen to fall in my lap, I use them. Throughout April, I don’t think I used any grocery coupons but I did use a whole bunch of Redbox codes and returned the movies on time to avoid paying for more than one day (we’ll talk about this rule, avoid stupid tax, next). We also had (and used) a coupon for a breakfast item at Chick Fil A, I found a LivingSocial deal for entry into Run or Dye, and I used my Walgreen’s discount card to save on a few things we needed. 

Rule #2: No stupid tax

Stupid tax is basically the money you pay for being lazy. Library fines, late charges on bills, overdraft fees, stuff like that. I did incur a $.20 charge for my daughter’s library books but other than that, no stupid tax for the entire month. This was miraculous, particularly as the Redbox policy is confusing and I’m bad about returning movies and I almost always pay for an extra day when I don’t mean to.

Rule #3: No frivolous purchases without gift cards

I bought nothing extra during the entire month. Not a nail polish bottle, Starbucks drink, or song from iTunes. In fact, I suffered from gift card paralysis where I have them but am so afraid what I buy with them is going to suck so hard I can’t bring myself to buy anything and I put the cards away. Oh, wait. I lied. I bought one thing but it’s health related so it doesn’t count. I purchased a Couch 2 5K training app for my iPhone. Best money I spent all month, though. 

Rule #4: No more craft supplies

I bought crochet hooks for $4. I figured the embarrassment I suffered at buying cat food, crochet hooks, and picking up my reading glasses all in 24 hours thereby making me question how old I actually am made up for breaking this rule. 

Rule #5: Keep to my grocery budget

I don’t know if I did this or not. I’ve been pretty good about staying on a budget but honestly, I lost track. I need to start paying in cash for groceries again because using the debit card makes it too difficult to track. I did spend 3 hours on Sunday doing a ton of food prep in an attempt to keep things under control so we’ll see how it goes this month.

Rule #6: Keep up savings challenge

You might have seen the 52 week savings challenge floating around Pinterest. Basically, you put aside a certain amount of money each week and by the end of the year you’ll have either around $344 or $1100, depending on which one you do. We’re doing the smaller one and as of yesterday’s count, we are completely up to date and on pace to save $344 as a family for the year. It’s not much but it’ll certainly help towards our goal of getting back to Disney World!

What else? Well, I also wound up saving us money by: putting my gym membership on hold (saves both on the membership fee and the gas getting back and forth); registering the child for her football season cheerleading early, earning us a discount; celebrating our 10 year anniversary entirely with gifted money and free activities; and shopping for clothes with gift cards (clothes are not frivolous to me because I go shopping almost never so they’re a separate category). 

I’m so glad I opted to participate in this challenge. It made me much more aware of where my money’s going which I really, really needed. I’m hoping to continue this mindfulness. 

And now, a collage of shit I want to buy but don’t but might now that I’ve saved money:

 

Did you participate in the Wallet Watch or regularly do something like this? How does it work for you?