Will you join us starting next week? “Join us for what,” you ask? Well, we want to help you save $300 for Christmas in a one-week time period and gain some new attitudes and perspective towards spending and budgeting… not to mention a real character building exercise for all!
What is it? Well, it’s Penniless Week time!
What is a Penniless Week?
In a nutshell, it basically means that you live this next week like you don’t have a penny to your name and you don’t spend a penny on anything. Don’t go grocery shopping, don’t go out to eat, don’t nickel and dime yourself with these “small harmless purchases,” don’t buy online, don’t pull out that card for anything. Just do it for a week! That’s it!
We do this a few times a year with our readers and this means that by the end of the week, you may just end up with about $300 extra in the bank! This is the average amount that our readers end up saving this week.
And this is a GREAT week to do the Penniless Week. It’s the middle of October…school has been well under way and the back to school expenses, club fees, sports equipment and many other “back to school” expenses are done and it’s just a couple of weeks before the holiday season kicks into full swing and we all have expenses left and right…at least seemingly.
So it’s a week that’s smashed in between all of this stuff and a good week to sacrifice and save a lot!
What would you do with an extra $300?
Since we are only 7 weeks from Thanksgiving and Black Friday and only 11-weeks from Christmas, it could be a BIG blessing to have an extra $300 in your pocket. Perhaps to pay for Christmas presents? Christmas and holiday travel? Future travel? Needed expenses? Paying off debts? The possibilities are endless.
Speaking of Christmas presents – have you checked out our Holiday Planners? This is a great way to stay organized, ensure you are purchasing gifts with a 30% or more savings and stay within budget this season.
At the end of this week, put whatever savings you reaped into a savings account stowed away for this rainy…or snowy day! It is one BIG step to help pay for these extras this season, one BIG step to staying out of debt this season and one BIG step in having some financial peace too.
The Rules, Instructions and Motivations!
What are the rules you ask? Well, the rules are simple and the complete list is found on the official Penniless Week Challenge post. But here’s a refresher on many:
- DO pay your bills. Your bills are an obligation no matter what. This is not what we are talking about, although we have many tips for reduce your monthly bills, you can’t not pay them if they are due.
- Avoid the grocery store – this is the FUN one. Learn to live off of what you have in your fridge and pantry right now. No, it’s not going to be the most lavish meals or the most delicious or the most well rounded – but we can guarantee that they will be creative! Use our no-food waste menu planner that helps you create meals using the foods you have on hand now. Secret: this is a GREAT week to clean out the fridge, pantry and freezers and eat things that you’ve been meaning to eat for a while. Think about all of those frozen veggies, canned foods and more that you really need to eat.
- Avoid online shopping, the mall, Walmart, the Dollar Store and any other places that are money traps or where you would be tempted to buy something. Simple.As.That.
- DO fill up your vehicle with gas before the week starts. You need gas in your car to get to work, for emergencies, obligations, etc. BUT, try to conserve gas as much as possible, saving as much of your tank of gas for next week – only do necessary driving. And if you are avoiding the stores, this will be easier.
- Avoid eating out! Whether for lunch, dinner, breakfast and COFFEE. Make it all at home for one week. Plan ahead and take it with you. You can check out the Recipe Gallery for inspiration!
- Enjoy date night in, the free parks for playtime or playdates, free museums, free time at home, put down a smartphone or tablet and play a board game with the family. Just find new and inventive ways to entertain yourselves.
- Avoid the nickel and dime expenses like the plague. YES – that .50 candy bar is going to hurt you this week, YES, that $4 coffee is a waste of money! Skip it all and save it! You will be amazed!
Keep us posted and in the loop with how much you are saving! In fact, we want to be in communication with you this time and help and encourage you along your 7-day journey! The Challenge starts on Sunday, October 18, 2015 through Saturday, October 24th, 2015.
Just fill in this request and we will send you emails throughout this week with ideas, tips, encouragement, our progress and more!
Join in on the fun!!
Blogger Friends – Come and join in the challenge and share your plan on your site and link up below! We will be featuring some of you on social media and sharing your experience and progress along the way. Email at email@example.com to receive more details about joining in the fun!