No Buy Policy (Part III)

I thought I should clarify this a bit in case someone out there is interested in trying this policy. I had a total budget makeover earlier this year because the old method didn't seem to work the way I wanted it too.

My husband and I get paid on a bi weekly basis. Before we get paid, I'll jot down how much money we will bring home during that payperiod and what expenses we have until we get paid again. By doing this, you assign the job to every dollar you bring home. Whatever we have left after bills, groceries and savings, we can use that to treat ourselves (hooray!).

While I am not a devoted coupon hunter like most people, I think I am better at seeing "needs" and "wants". It does take some practice and it is just a matter of a "waiting game" (which is sooooo hard). You wait a few days and think if you really need it. Usually what happens is..if your desire is still going strong..you will end up getting it, if not you will save yourself some money.

This paragraph is not related to the above policy but I thought I threw it in with the mix. We are never frugal when it comes to food, my thought is I'd rather spend money on nourishing my body with good food than on medicine/treatment later on in life (which is going to be 100 times more expensive). We do cut down on eating out and it makes a different when you get used to homecook meals, plus it makes dining out even more special when you treat yourself on occasions. I find cooking at home to be very challenging. I had to admit that I failed about 100 times before. It is so hard when you work full time from 8-5 (plus having a baby to care for while a husband does shift work and is not home in the evening 5 days a week). You feel like you are starving by the end of the day and are too tired to get that pot and pan out of the cabinet, chopping veggies, preparing meat and on and on when you get home.

Back to the topic...the key to success is..knowing when to stop. Once that money is gone, it is gone..no more pulling from the emergency saving! This is hard but it makes sense. Emergency money is not for dining out or shopping. Saving is good but you do not want to be miserable by saving every penny and lose all the joy in life. Treat yourself on occasions, you will be a better saver. You don't want it to backfire you and blow out the whole plan. Moderation and flexibility are essential in acheiving this goal.

Beow are my two favorite male financial gurus/bloggers..they offer plenty of money saving tips and good source of financial managements (plus some humors)

http://www.thewisdomjournal.com/

http://www.frugaldad.com/