Week One Down

There are many goals that I have set for myself during Financial Freedom February.  Some are very small strides that include not spending $50 at Rite Aid on nail polish, lip gloss, or any other item that I simply MUST try.  Other goals include ending the month with no credit card debt, and at least $1,500 in my savings account.  For me to accomplish being debt free with a teensy bit of savings, I decided that I would attempt to spend only $100/week on food, drink, and shopping.  This seemed like a very cut-and-dry mission, but after the first week I noticed that there were any stipulations.  Regardless, I came very close to achieving my goal and ended the week spending $112.00.  Here is how it went....

On Monday, I took $100 of cash out of my bank account.  For the first few days, I spend minimal amounts of money on eating, sticking to bagels, pasta, and sandwiches.  While a part of me was hopeful that this challenge would allow me to lose a few pounds, false.  Apparently carbs are very cheap and can be bought, cooked in bulk.  Take a guess at what March will be about....

So then Wednesday came around and I was thrown a curve ball.  I was traveling to Richmond and Norfolk for an overnight work trip.  Before leaving Baltimore, I went to my local coffee house for a cup of Joe and ran into three friends.  They had all read my blog, so I asked their opinion.  My company pays for my meals when I am on the road.  Do I count my meals while traveling towards my $100/week? Or do I embrace the filet in my future? All three friends agreed...the purpose of my blog is for me to save my money.  If someone else is paying, I should by all means accept.  While traveling Wednesday and Thursday, I expensed my meals.  This made made my goal a bit more achievable, although I still feel like I am cheating somehow because not everyone has this luxury.  But like my friends said, if someone else is paying, all is fair.

Friday came around and my boyfriend and I went to dinner with two other couples.  I knew in my head that I was going to blow my budget, but it was a great night, and I was ok with it. I wasn't going to become that annoying person that is always penny pinching and making everyone else uncomfortable.  I agreed to go to dinner, so I was going to spend money.  The bill came, I took out my check card, and my boyfriend (let's refer to him as Howard from here on out) refused to let me pay. I didn't even do the prolonged purse grab where I gradually take my wallet out as I bat my eyes lovingly.  With conviction I took out the card and put it in front of him.  Maybe this technique works better?  I plan to experiment more with this.  So, again I am taken back to the $100/week and what counts and what doesn't.  Trust me, I am not trying to become some independent women that needs "no man to make me happy." If Howard would like to pay, that is a very nice gesture, and really nothing out of the ordinary.  Although he won't be treated to a nice dinner from me during this month, I see many delicious pasta dishes in his immediate future.

Going into Sunday, I still had $35 of cash in my wallet. Typically, this would have been MORE than enough to get me through the day.  I could have even shown my face at church and gave money in the collection.  Or I could have finally bought a coffee maker and really cut down on my weekly expenses.  Instead, it was Super Bowl Sunday and I committed to making pulled pork for Howard's party.  I spent $47 at the grocery store using my check card.  Although I went over my budget, the night ended with about 4 out of the 6lbs of pulled pork left over.  Well worth it because this will account for quite a few meals this week.

As I go into the second week of my challenge, I now know that there are a few exceptions to my $100/week goal.  If I am traveling, I will by all means let my company pay.  Relationships are about give and take.  If Howard would like to pay for a meal, I will let him.  At the same time, I will not take advantage of my luck and will make more meals at home that are within my budget.

I was very excited to get an email this morning from a good friend asking me how my first week went.  She told me that she took out $100 from her bank account this morning and is going to try the challenge this week.  I was thrilled to hear that others are hopping on board! I am looking forward to including other people's successes in my blogs, as well as suggestions they may have to be successful.

Let's have a savvy week!

-L