Nospendver Days 31-45

Time sure is flying, I can’t believe it’s December and that this no-spend challenge is flying by so quickly. This set of 15 days was pretty easy because of the huge exam I had to write in the middle of it. In typical Janine fashion this means locking yourself in a room with your books and not coming out until you know everything. It’s pretty easy to not spend money when you aren’t leaving the house. All in all the exam went well, passed with flying colors and work is finally starting to slow down and wind up for Christmas. My guess is the last 15 days are going to be the hardest because of the holiday season

Last time I checked in, I had spent $130 which wasn’t too bad and most of it could be attributed to one day when the fiance was back in town.

Since then I have added $47.63 which can all be attributed to lunch, coffee and macarons.

After 45 days I have spent $177.64 on non-essential spending.  gave myself a $20 per week allowance and at this point I’m about $38 over budget. 

Doing this challenge makes me realize how much stuff I probably would have purchased if I wasn’t doing this challenge. I’m not a huge impulse buyer (anymore) but I would say my weakness is Starbucks and Lunch. Working downtown it makes it so easy to just grab lunch instead of packing it. I’ve really had to make a conscious effort to not buy my lunch, unless I’m meeting a friend. Keeping busy is also key, I’ve had so many projects and courses on the go I really haven’t had time to spend a lot of money. Christmas shopping helps as well. I like buying gifts for other people and it kind of relieves the urge to buy something for myself when I’m doing it for myself.

 Here’s to the last stretch before Christmas!

November 2014 Spending Recap

Oh hi there…. you remember me right? No …. sorry for my absence, each and every day I promise myself I’m going to blog but then I cannot believe how busy I find myself at work, coping with my attempt of a social life, planning my wedding or travelling to see my fiancé. Anyways, as many of you know I’ve been on a no-spend challenge since October 20th, and so far it’s going pretty good. No real major splurges here, which means more money in our bank account!

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Bills: Well, these are still a little high this month as we had to make a deposit on our utilities, but over all they are starting to look a bit more reasonable. We have both switched to our company phone plans and our electricity bill is far less here. As well our heat and water are included in our rent so that significantly decreases our bill payments each month. [Read more...]

Nospendver Days 15-30

A week or so ago a recapped the first quarter (15 days) of my no-spend challenge that I started on October 20th. At that point I had only spent $18. While the time seems to have flown by between then and now (less than a month till Christmas!) I did manage to spend a little bit more money!

Day 30 check in:

Non-essential spending $130.01 

Most of this consists of dinner out with the fiancé when he was back in town for the weekend. Having him away means I really don’t spend a lot during the week but when the weekend comes I do end up spending a lot more.

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Getting my dividend income to $100 a month

I think passive income is important. I love seeing my stocks grow but I also like receiving dividend income from the stocks I’ve invested in. As I get a bit older I can see how having a steady source of dividend income flowing in each month might be desirable in retirement. However, I’m also leery as I ha a finance professor warn us once to not only invest in dividend yielding stocks. I understand where he is coming from, a dividend is a transfer of value from the company to your bank account, which means they cannot use this capital to grow the business and as such you will not benefit from this potential growth later on. That isn’t to say dividends are bad, you just have to be careful. You should not just invest in a stock for its dividend. If you really need a steady source of income each month you should be selling part of your portfolio off. Assuming you have held your stocks for a long time and they have grown in value you will be making money on the transaction regardless. Just look at Berkshire Hathaway, it has never paid a dividend and the class-A shares sell for over $200,000. The revenue generated has always been put back into the business to grow the company and add value. Dividends pay that income out so it’s in your hands to decide what to do with it.

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Nospendver Days 1-15

As many of you know Athena, Sofia and I decided to embark on a 60-day no-spend, hilariously named “Nospendver” by my fiance. Nospendver started on October 20th and goes until December 20th (just in time for Christmas)! The rules were as follows:

1. The no spend challenge will commence on October 20th and go until December 20th.

2. Non-essential spending is limited to $20 a week or $160 in 2 months. I know for myself giving up all fun things wasn’t an option and I think the two lovely ladies agreed. This is about cutting back a lot, I know I spend more than $20 a week on fun so limiting to this amount should be interesting.

3. No purchasing clothing. I think my only exception to this would be if I purchase a pair of winter boots. I know I need them for the -40 that will soon be upon us, but if I can make it to December 20th without it getting too cold I will.

4. Christmas gifts are do not count in the no-spend challenge, though we are all trying to be frugal and creative this year with out gifts.

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October 2014 Spending Recap

Hello November! Oh, Christmas is coming so soon! I’m so excited, our Christmas tree is up and I’ve started shopping for the holiday season! October was kind of a weird month, we moved on the first to our brand new apartment which is right outside of downtown and a quick commute into work each morning. The fiance found out he would be heading out of town for training and  work at his new position. It’s been a tad lonely but I scored a free trip to Phoenix on the last weekend of October

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