Sunday, January 24, 2016

No Spending January - Still Going Strong!

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Day 24 of my no spending January and it's going well.  Actually, it's been pretty easy.  I knew I'd have to spend a little on gas and food but I haven't spent money on anything else.  I filled my gas tank once and will easily make it through the rest of the month (It's nice living about two miles from my office!).  I've been eating mostly from my pantry and freezer so my food costs have been very low also.  I did make a trip to Aldi for some fresh fruit, vegetables and bread.  I did get a couple of extras like chips and crackers, too, but I only spent $29.35.  And I probably won't get anymore groceries for the rest of the month.  Considering that the only other groceries I bought this month came from a Walmart gift card (earned on Swagbucks), my out of pocket is minimal.  In addition to keeping my spending to an absolute minimum, I've been able to increase my income by taking a couple extra shifts at work and spending a little time online.  I've cashed out for a $25 Walmart card and $50 Paypal from Swagbucks already.  I've made $5 from Gifthulk, $10 from InstaGC, and $6.12 from QuickRewards.  It all adds up!

Increasing my income while lowering my spending has been quite fun.  I have no intention of doing anything differently next month.  Or next year.  I love the freedom that comes from consuming less.  I love watching my wealth increase.  The realization that if I lose my job - or want to walk away from it - I will be fine.  I plan to increase my 40K saving rate from 6% to 8% today.  And I'll probably increase it again once I get used to that take-home number. I will invest the full $5,500 in my Roth IRA by the end of February.  And I will pay down a portion of my mortgage (I know a lot of people don't believe in paying off a mortgage early, but I hate debt and want to be completely debt free.  My mortgage is the only debt I have so I know this goal is attainable.).  Early retirement is in view and I can't wait.