No Spend Month Challenge Take Away and Lessons

This month’s no spend month challenge plan of spending 0 for 31 days for 4 people, failed miserably. I went over budget 5 days before the month ended. Some of the reasons were unexpected and out of my control and others were in my control but I did not handle it well. So, I have failed in sense, but like in every situation in life, there is a lesson to learn in each one of them.

If we never make a mistake, the learning does not happen. There are very few of us who are lucky enough to know what they are doing and doing it right all the time. I on other hand need some more learning and I have given an opportunity to look back at the No month challenge and see positives in this failed attempt. After all, I know I was able to do it successfully last year, why it did not work this time?

See my past year’s challenge:

Last Month’s recap:

There are a few ways to rationalize it this time;

  • Things are much more expensive then last year (basic food, gas prices, basic necessities)
  • Kids are growing up
  • I am bit sick and tired, eating a few take outs or convenient food, last year I cooked at home.
  • A few doctors visit, unexpected long driving trips to meet someone far away
  • My Van’s smog test has to be done this month
  • I simply did not have motivation as last year
  • Could I have done better? Yes, some things I had control over it, yet I blew it. I guess to err is human.

My Take Away For this Challenge This time:

  1. Prepare for Emergency: There is a reason why, all finance experts recommend keeping a healthy amount for emergency fund. This time, it became true for us. When it rained, it poured. We had all sort of unexpected expenses this month. A couple of doctor’s visit for me, extra driving, our water heater braking (we tried to self fix it, but it needed be replaced and it is expensive), our computer router stopped working and we use internet a lot for blogging, reading, kids school and educational stuff and that needs to be replaced, our 1 fan in summer is making noise and other one is giving burning smell to replace it. Our fence has fallen off in one area. Since I was not feeling well, we had take out a few times, adding to our expenses.
  2. Pick and Choose: When we have lot of expenses and limited funds, we can not fix and do everything. So, if you are in similar situation, pick and choose what is important and fix only that. In our case router, water heater is more important then let’s say fixing the fence for now.
  3. Take care of your health: I am reminded again and again that without proper health, rich and poor alike are vulnerable. If we are feeling better, positive and energetic, it will be easier to tackle new challenges and form a better habits. So take care of your health.
  4. Thought counts: Sometimes with all of our good intention, things does not go as plan. When that happens, take responsibility but move on and see positive. I am bit bummed out about busting my $300.00 budget but I am not going to let that keep me from other challenges my life and I am crazy enough to do it publicly again. 🙂
  5. It is easier to spend: And harder to save. If it was other way around, many of us would not be in debt or situation. While we are lucky not have major debt, still it can be harder sometimes when we live in society where money spending and credit cards are norm. Many have almost become unsocial people because being social with friends meant always going out to eat, movies and doing things that cost money. No one needs to be friendless, there are always people like us out there, we just need to find them and get supported by like minded people.
  6. Learned lesson: Life is constant learning journey, and there is something to learn at every mode. I am taking a note to see what could I have done to do better and I know some of the answers as I shared above. If you are in similar situation, do not beat on yourself, find reasons and learn lesson so we can improve upon it. Like The story goes that “Thomas Edison failed more than 1,000 times when trying to create the light bulb”. (The story is often told as 5,000 or 10,000 times depending on the version.) When asked about it, Edison allegedly said, “I have not failed 1,000 times. I have successfully discovered 1,000 ways to NOT make a light bulb.” We can always find ways to spin it positively.

My positive spin is; even though I went over budget, luckily I had savings to cover my unexpected expenses or manage it until next month.

I am glad to fail as I might have gotten over confident, if I successfully complete the 2 challenges in row. This has made me humble for all of those blogger and real life people, who go on saving challenges and work hard.

Thank you to all who supported me online and offline on my no spend month journey! I have some great ideas for next blog posts which I need to work on; while musing over my this month’s challenge. Hope you’ll had a great July.

Image source: thejourneyfortruth.wordpress.com

8 comments

  1. Mira says:

    Don’t be too hard on yourself. I think you did well, based on circumstance. Many times unexpected expenses occurs, like you said, having emergency fund is best idea.

  2. pea says:

    I think your did REALLY well for a few reasons.
    1. You actually took the challenge – many folk just keep spending mindlessly. You did something about understanding your finances.

    2. By doing the challenge you can see that the real world will always interfere with any plans on paper – it is how you react to those challenges. You took time to work out the discrepancies between your plans and reality.
    I’m impressed.

  3. ZenGirl says:

    Pea,

    Thank you for kind comment. I felt very bad about not meeting the budget as last year. If we have health and motivation, we can do anything. My not being feeling well and other emergency situation made it bit difficult and I think we went over budget. Yeah but lesson are surely learned.

    I always write down daily expenses, even when I am not doing no spend month challenge, and it helps to see where money is going and how to improve the spending budget. Thanks for stopping by and kind words.

  4. Betsy Bargain says:

    As you said, Preeti, the important thing was that you had the savings to cover those unexpected expenses. That shows you are doing something right! Just dust yourself off, and try again next time!

  5. ZenGirl says:

    Betsy,

    That emergency fund sure comes handy when murphy visits. My faith in my frugality is bit shaken but I am still determined. Thanks for always supporting here.

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