Monday, June 23, 2008

Fiscal Fast - Day 0

Chris and I started our first Fiscal Fast today. It consists of spending no money, $0.00, for one full week. We got this idea after reading Jeff Yeager's "The Ultimate Cheapskate". The whole thing sounded challenging, yet not extreme. Besides, we would have to stick to the plan for only one week. We felt we were mentally and financially ready. Fresh after the house-selling scare, with a very limited income and a cash-flow resembling the Murray River in extreme drought, we wanted to feel more in control of our finances. Besides, as I mentioned in one of the earlier posts, I started calling our neighborhood Target store my second home.

Now, to briefly go over the rules:

1) No spending money for 7 days (yes, this includes a weekend)

2) No stockpiling of groceries, gas, iTunes, etc beforehand

3) Keeping track of what we would've spent if not for the Fast

We did have to make a couple of exceptions (blame them on Mark):

1) I am allowed to buy 1 carton of milk and 1 pint of berries or peaches at the Farmer's Market so that Mark has fresh food

2) We did top the car off on Sunday (usually we do it on Thursdays)

3) My business expenses are exempt from the Fast