No Money March Madness

Nearly half of every American makes New Year's Resolutions.  In last year's post, I mentioned losing weight or getting healthy.  That is typically the number one resolution.  Other resolutions on the top of the list are getting organized and saving money and/or spending less.  This year, my family decided to make our resolution to save money and spend less.  We had been reading about different ways families worked to keep this resolution. One idea appealed to everyone.  The idea involved choosing one month where we spend as little money as possible.  We chose March.  So, here we go on our No Money March Madness!

Why did we choose March?  It's a long month!  It's the last of the winter months.  With our eyes on spring and Spring Break, what were we thinking?  We were thinking of Spring Break and the trip we will be taking.  We were thinking about having a little extra money for tours and souvenirs.  We were thinking extra fantastic meals and truly not worrying about the cost when we return from our trip.

We usually consider the cost of everything.  We are frugal family.  Anyone who knows us, is nodding their head vigorously at that statement. I'm smiling.  I watch our budget when I shop.  I love good deals,  especially the clearance rack at Target.  However, living overseas has caused a little strain in our budget.  Since the sequestration and current hiring freeze, I am out of a teaching job.  So that leads us to No Money March.

What are our rules for this month of not spending and saving more?  First, be more conscious of turning off lights, and running water.  Second, run our errands grouped together, drive less, and save gas money.  The next rule will be a difficult one, no traveling.  We live overseas, and will be here for only a short time.  We are trying to travel as much as we can.  Finally, the biggest task to tackle will be to eat all the food in our house before buying more.

This will lead to some interesting meals, I am sure.  I am thinking of myself looking at a few last ingredients and feeling like I am on an episode of the FoodNetwork show "Chopped".  What can I make out of breadcrumbs, the last few granola bars, a can of baked beans, and the last can of chicken?
I plan to involve our whole family on the meal planning so that everyone has ownership in those last few creative meals.  Of course, we will buy milk, eggs, and some fresh fruit along the way.  The idea is to be resourceful while using as little money as possible.

Ultimately it will be a challenge for all of us.  It will also be a unique learning experience of self-control, and needs vs. wants.  It has already lead to good discussions about how to budget.  I'll keep updating as the month progresses.

So, how do you save money? Would you or your family take this challenge?  What do you think you would miss the most when it runs out?

I'm already thinking about how to ration my coffee and my favorite creamer...