Author Topic: Savetember  (Read 44198 times)

forummm

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Savetember
« on: August 26, 2015, 09:16:11 AM »
After having a frugally fantastic No Buy July, and an august August marked by majestic dignity and grandeur, we're gearing up for Savetember. I think we'll set a record in August for our largest month of savings (in a month with only 2 paydays). I think we can beat our August savings total in Savetember. Who else is in?

http://forum.mrmoneymustache.com/throw-down-the-gauntlet/no-buy-july/
http://forum.mrmoneymustache.com/throw-down-the-gauntlet/august-august/

Bracken_Joy

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Re: Savetember
« Reply #1 on: August 26, 2015, 09:34:21 AM »
I am 110% in! So far August has been our lowest month EVER. By far. Our expenses are going to clock in at $1,200 less than our previous "normal". DH is as excited as I am (thanks to a well timed market correction, he is VERY on board with our savings goals now!). We lived on 50% of take home pay. We're committed to keep it rolling into September. (Hoping I get employed, so we'll be living on an even lower % of take home!)

We have a couple planned expenses, but those are on a list and we aren't going to veer from that. (Ex- he starts Masters classes, so any books or fees, and we're going to do one meal out this month. If I get hired, I will have some scrubs to buy)

What I will try NOT to spend on:
My mom's bday is this month. I will try to do purchase-free gifting.
We will continue to not buy alcohol. This will be much harder this month, as our "stores" are running out...
Except for our one planned taco adventure, we are committed to not going out to eat
Continuing with our "no clothes or shoes" unless a work item needs replacing
We will be eating game and fish from our freezer, and avoiding any easy grocery store meats like pork or ground beef or chicken

That's all I can think of right now. Here's to keeping momentum!!!!

iknowiyam

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Re: Savetember
« Reply #2 on: August 26, 2015, 10:03:32 AM »
We need this after last month... will see if DH is on board for Savetember.

choppingwood

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Re: Savetember
« Reply #3 on: August 26, 2015, 10:48:33 AM »
Count me in!

There is extra food in the house because of a case lot sale and the final weeks of my CSA. Utilities will be cheap because of low usage in late summer. The weather should still be good for spending time outdoors.

I need to sort out clothes for the fall, stock up on a couple of harvest items and do some work on the house in preparation for winter. Can't wait to see how much can be done for how little.

velocistar237

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Re: Savetember
« Reply #4 on: August 26, 2015, 10:59:12 AM »
Don't know how August went yet (I'm in the don't-look-at-Mint challenge), but I think it was pretty good. I'm in for Savetember. Hoping to clean out the closets and get some cash, try out canning, and avoid those tempting purchases that come up every once in a while. I do have some home projects I'm planning to tackle, though, and that could cost a bit. We'll see!

TGod

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Re: Savetember
« Reply #5 on: August 26, 2015, 11:09:51 AM »
I'm in! Our August was disgusting, we took a family road trip vacation to the US, watching the Loonie's value drop every day.  So everything we spent was increased by 30%. Technically we have spent all of September's food budget already.

Ozapftis

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Re: Savetember
« Reply #6 on: August 26, 2015, 11:49:22 AM »
The way you renamed the months to make them sound mustachian is funny. I like.
Do you have an altered name made up for every month of the year? If not yet, then Savetember should be followed by Socktober.

forummm

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Re: Savetember
« Reply #7 on: August 26, 2015, 12:46:14 PM »
The way you renamed the months to make them sound mustachian is funny. I like.
Do you have an altered name made up for every month of the year? If not yet, then Savetember should be followed by Socktober.

I hadn't settled on October's yet, but I am looking forward to Nobuyvember.

TheBuddha

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Re: Savetember
« Reply #8 on: August 26, 2015, 01:09:55 PM »
Challenge accepted!

choppingwood

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Re: Savetember
« Reply #9 on: August 27, 2015, 10:50:56 AM »
Forummm,

When you tally for your month, I see you are prorating your insurance and your property tax expenses. Do you actually set aside the money each month? And do you base this on what you paid last time, or what you estimate you will pay next time?

Insurance has gone crazy in my part of the world the last couple of years because of two different natural disasters that had insurance companies paying out huge numbers of claims. So, I figure out each January what annual bills I am going to pay and how I will pay them, and I don't worry about it monthly. But I am curious about how you think about it.

Andrew928

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Re: Savetember
« Reply #10 on: August 27, 2015, 11:38:55 AM »
I'm up for trying to save 40% this month as I will be going on a trip in nobuyvember.

nereo

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Re: Savetember
« Reply #11 on: August 27, 2015, 11:40:43 AM »
I'm in... but remember, the financial world is going to collapse in September anyway.
« Last Edit: August 27, 2015, 11:45:16 AM by nereo »

forummm

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Re: Savetember
« Reply #12 on: August 27, 2015, 11:50:04 AM »
Forummm,

When you tally for your month, I see you are prorating your insurance and your property tax expenses. Do you actually set aside the money each month? And do you base this on what you paid last time, or what you estimate you will pay next time?

Insurance has gone crazy in my part of the world the last couple of years because of two different natural disasters that had insurance companies paying out huge numbers of claims. So, I figure out each January what annual bills I am going to pay and how I will pay them, and I don't worry about it monthly. But I am curious about how you think about it.

Whenever I get the bill for the renewal, I pay it all at once (it's cheaper that way) but then adjust my monthly amount for spending tracking purposes. So it's reflecting what it actually costs me that month to have the insurance/house.

For example, my auto policy just renewed this month and I updated the amount it costs on a monthly basis. I didn't count the full 6-month premium in this month's spending--just a month's worth of it. If I were to cancel the policy I would get a refund for the prorated portion of the premium I paid. And it throws off the numbers too much to have a constant expense like that be booked under a single month.

choppingwood

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Re: Savetember
« Reply #13 on: August 27, 2015, 02:17:10 PM »
That's interesting. I have focused more on what I'm going to pay next time, but I think you are right that that doesn't reflect what it is costing me today.

You are lucky to have six-month premiums. Ours are twelve-months only, though the age and model of my vehicle make it pretty inexpensive.

Faraday

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Re: Savetember
« Reply #14 on: August 27, 2015, 02:22:47 PM »
After having a frugally fantastic No Buy July, and an august August marked by majestic dignity and grandeur, we're gearing up for Savetember. I think we'll set a record in August for our largest month of savings (in a month with only 2 paydays). I think we can beat our August savings total in Savetember. Who else is in?

http://forum.mrmoneymustache.com/throw-down-the-gauntlet/no-buy-july/
http://forum.mrmoneymustache.com/throw-down-the-gauntlet/august-august/

I'm In!

forummm, you are hilarious. "Savetember"...that's a hoot.

July was good, August was GREAT, capped off by the mini-market-dip this past week, not only did I get more saved this August than ever before (We made our 50% target), I got some really nice leverage in the market dip in Vanguard Roth IRA.

Some calculations have shown me that I need to go higher in my pre-tax to make my yearly allowed 21% (15 + Catch Up) because I missed a little bit in the first quarter of 2015. So pre-tax gets the emphasis for Savetember!


1967mama

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Re: Savetember
« Reply #15 on: August 27, 2015, 03:10:35 PM »
Jumping onboard for this gauntlet!
Great name!

TMM

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Re: Savetember
« Reply #16 on: August 27, 2015, 04:04:01 PM »
I'm in, spent a fortune in August and seriously need to regroup.

Butterfingers

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Re: Savetember
« Reply #17 on: August 28, 2015, 04:17:06 AM »
The way you renamed the months to make them sound mustachian is funny. I like.
Do you have an altered name made up for every month of the year? If not yet, then Savetember should be followed by Socktober.

I hadn't settled on October's yet, but I am looking forward to Nobuyvember.

How about:
Sober October (both in booze and in spending)
Stocktober (investing)
Locktober (lock down spending tight)
Stoptober (give up something financially/physically/emotionally damaging)

Butterfingers

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Re: Savetember
« Reply #18 on: August 28, 2015, 04:19:06 AM »
Oh and I'm in. Beat monthly savings record for our current circumstances (shouldn't be hard!).

forummm

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Re: Savetember
« Reply #19 on: August 28, 2015, 06:10:06 AM »
The way you renamed the months to make them sound mustachian is funny. I like.
Do you have an altered name made up for every month of the year? If not yet, then Savetember should be followed by Socktober.

I hadn't settled on October's yet, but I am looking forward to Nobuyvember.

How about:
Sober October (both in booze and in spending)
Stocktober (investing)
Locktober (lock down spending tight)
Stoptober (give up something financially/physically/emotionally damaging)

Oooh, I like Stocktober--since that's where my savings go.

CmFtns

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Re: Savetember
« Reply #20 on: August 28, 2015, 08:27:34 AM »
I'm in for the challenge. I'll only do Rent Utilities Groceries and try to keep 2nd two lower than usual

asauer

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Re: Savetember
« Reply #21 on: August 28, 2015, 01:18:58 PM »
I'm in!  Our August was terrible.  The beginning of kids and hubs sports came with lots of $.  Need to get back to running a tight ship.

SandyBoxx

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Re: Savetember
« Reply #22 on: August 28, 2015, 01:57:53 PM »
I'm in! Our August was disgusting, we took a family road trip vacation to the US, watching the Loonie's value drop every day.  So everything we spent was increased by 30%. Technically we have spent all of September's food budget already.

This was us this summer as well.  Our "cheap" family camping roadtrip into Montana ended up being quite costly because of the dollar (not to mention trying to hide out from the 40 degree weather, and the A/C on our truck quit on day 2.)  Ah, making memories!

Anyhow, we are in on the challenge - our July and August are almost always terrible months.  Booze consumption goes way up, lots of guests = more groceries, and more fuel going out to explore the Nat'l parks while the weather is good.  If we cannot do better than our last two months - we have major issues!

mrfilthyrich

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Re: Savetember
« Reply #23 on: August 28, 2015, 04:14:26 PM »
I would totally be in except this month is likely going to be the most expensive of the year with us moving to the US and having to furnish a home when we first move in.  I will try not to buy anything that is not necessary.  For instance we need a bed and crib, but we do not need a tv or new work clothes.  Good luck to everybody that actually doesn't spend anything!

AllieVaulter

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Re: Savetember
« Reply #24 on: August 28, 2015, 06:07:57 PM »
I'll join.  I'm specifically looking to save on gas.  My goal is to bike to work every day.  We've got a 8 hr round trip drive scheduled next week for a wedding, but we'll be staying with my parents and I've already bought the wedding present, so hopefully that will just be gas expenditures. 

We've also got some uncertainties (DH is looking for work, so may end up needing something if he lands a job), but if I wait until there's no uncertainties, then I'll never do this! 

lbmustache

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Re: Savetember
« Reply #25 on: August 28, 2015, 06:40:23 PM »
I'm in!

bloomability

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Re: Savetember
« Reply #26 on: August 28, 2015, 06:59:55 PM »
I'm in! It's definitely a goal of mine to have minimal food waste. August kind of fell flat on its face.

1967mama

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Re: Savetember
« Reply #27 on: August 29, 2015, 01:44:42 AM »
My goal will be to get a handle on the groceries -- currently don't really have a budget, just spend what I want <sigh>

BlueHouse

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Re: Savetember
« Reply #28 on: August 29, 2015, 05:58:31 AM »
I'm in. Trying to get food spending under control. I waste a lot of food. Now that I have two mouths to feed, I'm going to try to do it cheaper than when it was just me. No more excuses about eating out being cheaper! 
I may actually be turning the corner on getting motivated. I just realized that if I stop wasting so much money on eating out and food, I could potentially double my current mortgage principal payment ! 

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Re: Savetember
« Reply #29 on: August 29, 2015, 07:48:28 AM »
I'm in for Savetember!

August has been good, Income Taxes in September will help flexing the frugality muscle with a good excuse ("well, can't go out this month, taxes to pay "^^).

Susurrus

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Re: Savetember
« Reply #30 on: August 29, 2015, 12:19:15 PM »
I'm in!

My August was pretty bad compared to my usual spending habits, but that's all the more reason to buckle down in September. I also just downloaded the trial version of You Need a Budget, so I'll have lots of fun playing around with that this month.

Good luck everyone!

trplcrwnr

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Re: Savetember
« Reply #31 on: August 29, 2015, 01:14:23 PM »
I'm new to the forums and think this would be a great way to start. I'm in!

Tigerpine

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Re: Savetember
« Reply #32 on: August 29, 2015, 01:46:54 PM »
I'm with trplcrwnr.  I'm new to the forum, and this will be a great way to dive into the community!

So...the goal is to save as much as humanly possible for the month of September?  Other than the plane ticket I need to get for Thanksgiving, this should be good!

wordnerd

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Re: Savetember
« Reply #33 on: August 29, 2015, 02:33:12 PM »
So...the goal is to save as much as humanly possible for the month of September? 

Pretty much. Just don't waste any money--whatever that means to you. Still makes purchases that align with your values--food, electricity, a planned-for plane ticket--but see how much fat you can trim from your budget. Welcome to the forum!

Zamboni

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Re: Savetember
« Reply #34 on: August 29, 2015, 05:21:57 PM »
I'm in. August did go that well for me in terms of spending, and I really want to make September a chance to rebuild my short term savings stash that was partially used for some summer travel and a new roof.

I'm going to challenge myself to have a new spending "low" this month and stash the rest. Although there is an element of luck in having no unplanned expenditures, if I make this goal for each of the next few months, then savings should increase.

kander

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Re: Savetember
« Reply #35 on: August 30, 2015, 06:01:22 AM »
I'm in!! Let's save! :D

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Re: Savetember
« Reply #36 on: August 30, 2015, 08:42:18 PM »
I'm in!! August was out of control with dining out due to vacationing prior to the kids starting school. It was fun, but not for the wallet.


ABK

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Re: Savetember
« Reply #37 on: August 31, 2015, 01:33:02 AM »
I'm in too! DH and I each have a week and a half away for work trips during Savetember, during which time we'll be living off our per diems, paid by our employers. I expect our grocery and utility bills to each come down by at least 20%.

Susan

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Re: Savetember
« Reply #38 on: August 31, 2015, 03:50:10 AM »
I'm in! My goal is to stay below 1300 for the month.

johnny847

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Re: Savetember
« Reply #39 on: August 31, 2015, 05:45:22 AM »
I'm also in! I'm aiming for a no buy September, where I can only spend money on rent, utilities, groceries, fuel for my car if necessary, and gifts (though I don't expect to be buying gifts this coming month).

lifejoy

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Re: Savetember
« Reply #40 on: August 31, 2015, 06:31:54 AM »
Sign me up! This will be a good challenge for me.

kander

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Re: Savetember
« Reply #41 on: August 31, 2015, 01:09:18 PM »
My goal is to keep my savings account above 10.000. At this moment we have 11.908,31, but we need to pay more than 1908 on some stuff, so I want to be frugal enough to replenish it.

Rosy

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Re: Savetember
« Reply #42 on: August 31, 2015, 04:45:36 PM »
The way you renamed the months to make them sound mustachian is funny. I like.
Do you have an altered name made up for every month of the year? If not yet, then Savetember should be followed by Socktober.

I vote for the socktober:)

I just crunched my numbers for August to December and revamped my budget for the thousandth time. I like the looks of it, but in order to really make it work I must stay totally on track in September - no matter what. August was tough and a MMM injection is necessary to stop the hemorrhaging.

I will be sticking to my normal savings allocation come hell or high water and if my plan works I can up my game and stash an extra $300 mo from Oct to Dec.

However, there is one little wrinkle in my plan to the tune of $153. Basically, I need to squeeze the money from other budget allocations or find some other way to cover it.
It is an arbitrary decision - I could take it from my combo immediate emergency slash discretionary fund. But I do not want to do that, because it would be the easy way out - so my challenge for Savetember is to find a way to fund it:)

So wish me luck Mustachians - I'm off to slash the dragon:)

1967mama

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Re: Savetember
« Reply #43 on: September 01, 2015, 12:56:16 AM »
And so it begins ....

Welcome to Savetember Mustachian friends! Lets do this!

Thegoblinchief

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Re: Savetember
« Reply #44 on: September 01, 2015, 05:26:25 AM »
And so it begins ....

Welcome to Savetember Mustachian friends! Lets do this!

Good luck! I won't be joining in these challenges until probably November because of planned things but definitely rooting you all along.

forummm

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Re: Savetember
« Reply #45 on: September 01, 2015, 06:30:12 AM »
Due to a leaky roof, I'm not sure we'll best July or August numbers, but I think we will come pretty close.

http://forum.mrmoneymustache.com/throw-down-the-gauntlet/august-august/msg790416/

kander

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Re: Savetember
« Reply #46 on: September 01, 2015, 07:02:05 AM »
Since this is my first month challenge: what do I need to do? Is there anything you expect from eachother, like daily telling what you've spent or anything else??

Rosy

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Re: Savetember
« Reply #47 on: September 01, 2015, 07:20:40 AM »
@kander - you can report in any time you like - both failures and triumphs so you can pick up a little motivation throughout the month.

I've noticed some people like to post weekly, others only biweekly or at the end of the month. My goal is rather specific this month, I don't expect to have an issue with the regular budget, only the arbitrary $153 that I decided to tackle, so I'll check in as I see progress.

 

FausseBourgeoise

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Re: Savetember
« Reply #48 on: September 01, 2015, 09:04:54 AM »
I went on the trip of a lifetime and spent an absurd amount of money in August (entire first paycheque of new job plus two weeks' vacation pay). It was worth it, and I am now prepared for austerity!

Goal is to spend less than I did in my best month this year, which required me to cut 10% from my budget while also mulling over what to do with my transportation (I had a $35/mo all-access transit pass and now it is gone, so if I want to take the bus at all I'll need to pay). The weather is good so it's time to explore biking. I do live within walking distance of both my jobs, and have been walking there routinely.

KMMK

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Re: Savetember
« Reply #49 on: September 01, 2015, 09:18:17 AM »
Like others, August was expensive for me - lots of infrequent purchases, and a crazy grocery bill.
For September here are my goals:
Groceries - only buy fruits/vegetables (including potatoes) - otherwise eat what is in the house.
Other than regular bills, only spend money on: bus tickets (as I'm going to run out and I'm not in a position to walk everywhere all the time), socializing (a priority, but there shouldn't be that much this month).
No other purchases.
First 2 hours have been a success.