While I have no plans to turn this into a personal finance blog (the world has enough of those, unlike unfocused blogs like this one) I do want to share my money-focused resolution for January: Make it my cheapest month ever. Part of my reason for this resolution is because I’m still unemployed. But even if I had a job, I would still be trying to have a cheap January because I want to save money for my upcoming basement reno (oh, don’t worry, there will be plenty of posts on that project over the next few months).
To make this my cheapest January ever, I plan on doing the following things:
- No Shopping: Since being laid off, I have reduced my shopping to almost nothing. In January, it will be nothing. Short of my kind of dramatic emergency – my winter coat spontaneously dissolves – I won’t be buying any clothes, beauty products, books or anything similar.
- Cut The Grocery Bill: Sorry Metro and Loblaws, in January, I’ll be doing the majority of my food shopping at Fresh Co. I am wondering if maybe it makes sense to do a big grocery shop at the start of the month at Costco but I also worry that a trip to Costco might just eat up the majority of my budget.
- (Almost) No Eating Out: I’m allowing myself two “cheats” in this section and one of those cheats needs to be for food of the fast-food variety.
- (Almost) No Going Out: Again, I get two cheats and in both of these outings, I’m limiting myself to two well drinks.
- No Trips To The LCBO: “Going out” means going to a bar or something bar-like. Going to a friend’s house doesn’t count and I’m allowed to do that as much as I want. However, if I want to drink at a friend’s place, I need to bring booze from my existing stash. I can’t bring in any new alcohol.
- Limit My Cash Spending: I’m thinking that $100 for the whole month should be plenty since I’m not really going to be spending any money beyond small grocery purchases and a single trip to say, Subway.
So that’s the plan. Let’s see if it works out.