Hello everyone fall is among us and I thought what better timing then now to do a savings challenge. Fall is my very favorite season and is the beginning of the end of the year, and with Christmas right around the corner saving a couple hundred bucks is just what everyone needs. I will be right there with all of you and will lend my help along the way, I will be setting up a mailing list with daily inspiration, guidance as well as helping hand in keeping everyone on board. Don’t forget to go check out my top frugal tips first to find some inspiration before we get started. This challenge is super simple and may even help transform your monthly spending habits, so don’t forget to subscribe to the blog to continue following my September series as well as finding me on Instagram, Twitter, and Pinterest to get friendly reminders, support, and a look into our everyday lives.  So without further adieux lets get into it!

Step 1: Comment your email on this post so that I am able to add you to the mailing list!

Step2:  Write down on a piece of paper ( I know how old fashion) all of your monthly expenses. When you write your expenses I want you to divide your expenses into 2 groups Necessities and Other. In the necessities column I want you to group payments that you owe or have to pay an exact amount every single month i.e. rent, utilities, debt payments, insurance, Then in the other column these are the other payments each month that has a little more wiggle room, things like groceries, going out to eat, clothes, buying random items, and fuel. Yes these items are still important in your survival but you have little more control over these expenses. Put the amount each month you have to pay for necessities and what you would usually spend on the extras. challenge table.png

Step 3: Now make a column with your monthly income, and if you are a two income family combine the income. Now this may be tricky but if you are able and willing I want you to take 3/4 of your income and only spend that for the month. This means that if you spend more in a month than what you bring home you are going to start cutting down your numbers in your right column or your “other column” until you make it to your 3/4 number. Now that you have your 3/4 number, and you have created a guideline I want you to create a system that will work best for you to keep your self accountable with only spending the amount you have budgeted for your extras, what works best for me (especially on going out to eat) is I put the allotted amount of cash into an envelope and keep that in my wallet and once that cash is gone we don’t go out to eat. Different strokes for different folks there are tons of little ways to keep accountable.income table.png If you notice what my monthly spending is more than my 3/4 number therefore I am going to have to cut out going out to eat this month and any other extra spending to stick to my $2,250.00 that I have to spend this month. Now I chose these numbers for super easy math but if you stick to this plan and budget or make similar money that is a savings of $750.00 in a single month! total monthly savings.png

Step 4: Stay positive, don’t give up! I know how hard it is to want to treat yourself, or those nights you want to come home and not cook because you are exhausted, but it will be worth the time, and patience at the end of the month and you have that little bit of savings left over. The most important thing that you have to remember is that this is SAVINGS after working so hard don’t go and spend all you hard work.

So lets do this thing! I am super excited to start this journey with you guys and hope to help make the giving season a little less impactful on everyone’s bank accounts. Don’t forget to head over to my Pinterest to check out my favorite frugal tips and tricks. I have found a ton of fun ways to a spend free weekend, frugal meal plans a well as different ways to skimp and scavenge. So lets jumpstart fall with some savings! Who is with me?

XOXO

Caitlyn

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