• Stop Spending Money Project - Update

    I thought I should take the time to give a quick up date on how I'm making out with my stop spending money project.

    As I mentioned in earlier posts, I've been doing my best to stop spending money. This project has been taken over by my bicycling and weight loss projects, which I'm pleased to say are actually complementary in nature.

    My goal right at the moment is to lose 85 pounds off fat. In doing this, I am restricted with my diet which means that I'm not eating out very much if at all.

    I'll eat at a restaurant if I'm out with a friend, or if I've bicycled too long and am desperate for something to eat. I've probably been to 4 restaurants in the last month. This is a great reduction from eating at a restaurant 2-3 times per day.

    I really haven't bought any new items except for some workout books for weight training, and some new clothes (because I've lost weight).

    I've decided to use my credit cards for my purchases so that I can build up points to use to buy frivolous items. (I've used $40 in Canadian Tire money points to buy some kitchen items.)

    I recently got a Presidents Choice Mastercard so that I can build up points and get free groceries. I figured that I shop every day at Extra Foods, so why not build up the points?!! I NEED free groceries.

    Oh yeah... I pay off my credit cards in full each month. Don't worry.!! I just want the points.

    The thing about bicycling everywhere is that I don't have alot of storage to carry things. If I'm picking up something at the health food store, I have to take my backpack with me. I did buy a rack for my bike, but I haven't got it installed yet.

    I do use the household van on occasion, if it's cold and rainy out and I need to go across town for something. I sometimes drive my wife and son to work and I'll go to a store that's on the way back for convenience sake.

    I haven't had a big desire to buy anything. I'm pretty content with what I've got. That's probably the biggest reason I'm not spending any more. Being content with things is a big money saver.

    My retirement fund can is filling up and staying filled.
    anti bankruptcy and retirement savings fund

    LOL! This is a picture of my coffee can that I labeled ANTI-BANKRUPTCY AND RETIREMENT FUND!

    I put my change in this coffee can whenever I get some. Lately It's been filling up pretty well, and staying filled.

    I think I'm doing well with my stop spending money program.. I'll check in in a month or so and give you another update.


 
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5 Comments
On Jun 2, 2008, vitta Said:
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On May 11, 2008, Monty Loree Said:
Agreed...
I stopped going to Tim Horton's because I decided to quit drinking coffee. I would have 1 or two a day @ $1.65 each. I was addicted.

With my new diet, I am only drinking her teas of which I'm not motivated to make a special trip for.

Congrats on quitting smoking!! I saw somebody buy a package of cigarettes for over $10 a pack. I couldn't believe that.
On May 10, 2008, Vitzbitz Said:
Glad to hear things are going well!

I can't call my own endeavor a "project", but I quit smoking (a big money saver right there) and have been doing my best to curb that "incidental" spending most of us are so guilty of (simple things like bring a refillable bottle of water to work instead of buying one each day - $1.25*250=$312.50/year, have ONE cup of coffee a day, before you leave the house, instead of two or three from Tim Hortons $1.24*2*250=620 - almost a grand a year right there).

Most of it leads to healthier living anyway, and certainly healthier bank accounts.

-GRIN-

Keep at 'er Monty! You're an inspiration.
On May 10, 2008, Monty Loree Said:
Hey nipsum
I am find thanks...
Your blog looks like it's brand new?!

What's it about?
On May 10, 2008, nipsum Said:
How do you do.
I hope to see blog.
Please link to this site.
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