Over a year ago, when I was searching for tips to cut down on spending, I came across a blog about Fiscal Fasts. I wish I could remember the exact blog but since discovering it I’ve been unable to locate the post I originally read.
Fiscal Fasts have become one of my utmost favourite ways to meet my financial goals and save the funds for our families mini adventures. If you’ve never heard of a fiscal fast before it is basically a complete ban on spending money for a specified period of time. Of course you can set your own rules but generally it means no food shopping, no toiletry shopping, no clothes shopping, no day trips, no takeouts, zero spending and using up all the products and food items you already have in your cupboards!
Now the longest fast I’ve completed so far is 14 days and it was pretty easy. This time I want to take it one step further. I have some debts to pay off and some serious saving to do for a new little venture (I’m keeping that under wraps for now) and I have three months to do it in. Initially I wanted to do a 90 day fast but I foretold a few problems with this; our food stores wouldn’t see us through three months, the car would need petrol and unfortunately due tol
taking a family member to hospital appointments we couldn’t stop using the car completely.
So I’m going to tackle one month at a time and begin with a 30 day Fiscal Fast. There will be one exception to the no spending and that is milk and bread both of which are items that I consider staple item in our household because I have a fussy 3 year old when it comes to food and after a huge battle of getting him to eat anything at all he has settled on requesting cereals and sandwiches nearly everyday and we are making so much progress with him eating his evening meals I refuse to derail that. Of course the household bills will have to be paid but since our utility bills are not due till next month and the only other bill I have is my Netflix account at just under £10 a month these will not count towards spending. To get us through the month we will walk anywhere that isn’t a hospital or Dr’s appointment, we’ll use all those tins hiding at the back of the cupboards and the frozen left overs in the freezer draws. I will buy NOTHING.
I’ll keep you updated every week with my progress. Be prepared for some interesting recipes as the cupboards run bare, perhaps some DIY cleaning supplies and if I do break the rules and make any purchases I’ll be sure to share my hiccups with you along the way.
Have you got an adventure you wish to save for? Debts to clear? Take up the challenge too I’d love to hear how you get on.