I don't know about anyone else, but I am still extremely concerned about the state of our economy with the whole Covid crisis continuing and with the beginning of a new president and staff in the USA. I don't see things getting better for quite awhile and I want to be prepared for anything that may come our way. I am feeling an urgency to try and save as much money as possible so that we can pay our property taxes off near the beginning of the year and keep our home secured that way. I also want to be able to have money in savings to pay for a trip in the Fall to see our Josh, Lauren and newest Grandson Tate. My other year long goal is to have 3 months worth of expenses put away in a separate account (emergency fund). In order to do this, we are going to have to slash our spending drastically and given that the pandemic is still keeping us at home for the most part, I see this as a good time to do all of this. 😉
Jeff and I had another talk and we agreed that for the month of January, we would not spend anything other than what needs to go to our regular monthly and quarterly bills and as low as possible for groceries (we should not need much at all) unless it was for a medical emergency. Since we already stocked up on the wood pellets for the year, we will not have that expense for the rest of the heating season. Because we have a well stocked pantry, I think this is more than doable.
In February, our plan is to take $200 and put it in a grocery fund envelope and just spend from there. Once the money is gone, it's gone. By doing this, it makes me think long and hard about buying something because parting with actual cash is hard for me. If I have money left over at the end of the month, I can use it one of two ways...I can either use it later to stock up on things we need by adding it to another months grocery envelope OR I can save it and use it for spending money when we go down to see Josh, Lauren and Tate in the Fall. I really like that last option the best but may end up dividing the money to go to both options.