The $250 Challenge

As part of our endeavor to figure out where our paycheck goes each month we’ve been trying to figure out how much we spend on the necessities – food, utilities, gas and the like. While the hubby takes care of our one humungous bill – the mortgage, we trade back & forth on utilities & such. It’s pretty much a “whoever gets to it first” situation – occasionally its Appu but usually me. The months the latter happens I sometimes feel like I’ve spent my paycheck even before it hits my bank account. Between bills, eating out, the stuff I buy to try & get my stuff organized (Container Store anyone?), and my one weakness – Barnes & Noble - I’m never quite sure how much I spend in any given month….

Since I do most of my bill paying online I do at least have a handle on what our more or less fixed expenses are. Electricity, water, trash, phone, landscape & swimming pool maintenance guys, groceries and the occasional housecleaning visit are variables. In any given month the total for these hits within a $100 plus or minus range… Sure, we could be a bit more mindful of these expenses as well & shop around for better deals but that’s going to be the subject of another post. At the moment my first priority is figuring out how much I spend on the fluff stuff…

To that end I have decided to take a $250 challenge. There are numerous variations of this on the Internet ranging from $100 all the way up to $1000. I figure $250 is a good round number to start at. The timing couldn’t be better – Appu’s in Vietnam till after Labor Day. So my 4 weeks started the day he left – August 7th & ends the day he’s back - September 5th. I hit the ATM last weekend to withdraw my challenge amount in cash – when it’s gone, so will be my fluff spending for the month. Of course as with any challenge there will be some rules – so here goes nothing:

1. Defining Fluff – Anything that isn’t absolutely necessary for day to day living. This includes but is not limited to - movie tickets, all meals out, all entertainment expenses; books, shoes, clothes; haircuts & mani-pedis; gifts; all alcohol; home organization & improvement (with some exceptions)
2. The home improvement exceptions are the guest bathrooms – I have been planning to redo these for the past few months. I’ve finally selected my wall colors & have been window shopping for new lights, and faucets. Now I just have to get the electrician scheduled to change out the lights & then I can get to work stripping the existing wallpaper & painting them my chosen colors.
3. Gas – Given that coming to work is a necessity, gasoline is not a luxury item. However, with the ongoing energy crisis it would behoove me to be mindful of my mileage. To that end gas is going to be included in my fluff list. However, if I have an empty gas tank & no fluff cash left at the end of the month I will go ahead & fill my tank with my “overdraft” allowance.
4. Charities - I usually give to causes that are near & dear to my heart. National Public Radio, the Humane Society, the Leukemia Marathon in Bath (my cousin runs in memory of his sister) & Breast Cancer research. Apart from that if any of my friends and family are conducting fund raising activites I usually try & contribute. Also, every once in a while we get middle & high school students knocking on our doors for their fundraising activities. If I get "hit" for anything this month I'm not going to let my fluff limit hold me back.

Lets keep our fingers crossed and see how long my challenge money lasts....