Check out my first video, check out my blogs from last year, No Spend January 2023 first video, Update on my No Spending January 2023 Update of my No Spend January video 2023 where I shared my Youtube videos and check out my first video for this year on Channel My way of living: https://youtu.be/0aQQooZ3O1U
Last year it really made me look at where my money was going, and did a yearly budget which I have started to do this year, and it helped me manage my money effectively, and that bought me results. I spent time avoiding things like my bank account knowing that it could go down to zero and asked do I want this to be the rest of my life? Do I want die being in debt? If I want to go on a holiday, buy new clothes or notebooks and put money beside for my son, I needed to change my habits and so doing No Spend was so rewarding. I now check my bank account everyday and do a spending plan each week and month and just by making these changes in your life, like prioritizing on what is truly important to you, can grow your money for it to go further.
This year I decided to do No Spend because I want this year to be the end of debt and now setting in place a strategy by giving myself a monthly allowance to buy whatever I want and the same online, and this helps stop and save on many things and limited how much I wish to spend on the things I want and measure the need for an item, when using my allowances.
I have decided to pay off my credit card debt by August this year and this will be free up space to save and build my income. Rather than spending money on courses, I having been doing some that are free and complete the ones I have paid for and make my spending useful, by donating money or food each month to a foodbank, whenever I go to the newsagents use the change to donate to their charity box, and now I pay my son a pound for when he reads his book, so he can build his pocket money, and have him pay for the things he wants.
My son needs to learn about money and buying things for himself, and it has been very effective, as he is at the age to understand and I learned this from when I was a child. I the other day went through my stuff in my plastic draw unit in Wimbledon, as I travel and spend time in Epsom and Wimbledon each week, and found more notebooks still not used, and has stopped me from buying any more, and use what I have already got.
I am realising that I can save by shopping in my own wardrobe and room, and see that I have enough of what I need and its not about quantity but quality, and if its going to be beneficial to me in the long run.
To track my money I use a spreadsheet for myself on Excel and using it to see where my money is going towards and if I need to change my budget in some areas and cut down, like food shopping and perhaps being a bit too tight about it.
It has helped me to see what I enjoy, like meeting my mum for lunch, or going to a coffee shop and write and not stuck in doors, or going for a walk which is free exercise and buy a coffee whilst I enjoy a walk and can shop now without buying.
So, I challenge you to do No Spend January when it comes around again, and begin like I did at first have No Spend days and set a budget for each area of your life to invest in the things you love.
Many thanks for reading,
Carrie X