February is the shortest month of the year. Starting today through the 28th challenge yourself to be frugal! If you can’t do it this month then let’s be real, you never will.
The low hanging fruit here is to look your sweetheart in the eye and tell them that there will be no romantic evening on Valentine’s. This is the easiest way to save money this month. Skip the fancy dinner, chocolates, and card. *
*DO THIS AT YOUR OWN RISK
That is a joke folks. Please don’t skimp on the one person that put up with you all year! Enjoy your Valentine’s Day and keep your relationship intact.
Let’s look at 5 great ways to be frugal this February and keep cash in your pocket!
1) Attempt as many “no spend” days as possible.
This is something I have been doing for a long time. Start your day with the intention to spend no money. This may sound like a real challenge but most of the time it isn’t. The big expenses are taken care of.
Wake up with the intention to not spend money and see it through for 24 hours. If you can repeat this throughout your week/month it adds up! Plan to avoid getting caught in money traps during the day.
2) Don’t consume alcohol for a month.
Just when you thought you were going to drink away the pain of frugalness in February! Stop wasting your money on drinks at dinner or going out. Instead focus on your health and your wallet.
This is a double whammy as you will start to feel better and can cross off your physical new years resolution at the same time. If you can’t handle the madness buy your booze from the liquor store and avoid the mark up when you are out.
3) Do not purchase any wants for the entire month.
Have your eye on a new pair of heels? Maybe you need some new snowboard bindings? Well get over it for a month!
Whatever you currently have will get you through 28 days. Live with all the items you have and keep your money in the bank. No blowing money on any unnecessary wants this month!
4) Work your way through your pantry and freezer.
If you are like most families out there you have stockpiled some food in your home. Even if it was not your intention chances are you are hoarding some frozen and nonperishable goods.
Try to work your way through some of those macaroni and cheese boxes and skip buying more food at the store. Channel your inner college student and eat 13 packs of ramen this month!
5) Kill the wiggle room in your budget.
For one month stretch yourself thin. You know when you get paid, it is the 1st today maybe you just did. Instead of your normal plan immediately take some off the top.
Allocate that cash towards debt, savings, or an investment account and give yourself a bonus.
Wrapping It All Up
Do not attempt being frugal for a whole month and come out the other side with nothing to show!
There is waste in most of our lives and an exercise like “Frugal February” reminds you that you can live on less. Take this lesson and run with it throughout the rest of 2018.
Whatever cash you do not spend make it work for you!
Just do something for yourself this month. Report back in March and share any funny stories and see how much you can really save.
What Are Your Thoughts?
- Name some of your ways to save.
- Where will your extra dollars be allocated?
- What is the most memorable valentine’s day you have had?