Fifth and Adams was created by Holly to showcase her love of all things beauty, food and fashion with a sprinkle of lifestyle elements thrown in.

My Wallet Needs a Diet

My boyfriend made a bet with me. I am competitive in nature so I want to see this through. He bet me that I could not shop for a month. 

The terms of this bet are that anything outside of a need I cannot buy. 

I have been wanting to do a "Spending Diet" for a while now and this is my perfect opportunity to try it out. I found this post on the blog And Then We Saved , which by the way is a great non-budgeting-budgeting blog, via Pinterest and I have been interested on trying it ever since.  

Budgeting tends to be my failure in life. I would like to think I am good with money, but I cannot budget for the life of me. Instead of allotting a certain amount of money to different categories, I am just having a needs and wants list. Needs I can buy, wants I cannot.

Spending Diet.jpg

Needs are obvious, but there are some stipulations to them as well, in effort to save the maximum amount of money. 

There is no way that I can get out of not paying rent or utilities, but when I am not in my apartment or in the room, then the AC and lights have to be off.  

My cellphone bill I am not concerned about, I get a pretty good discount through my work. If  you are ever looking for ways to save on your cellphone, check with your provider to see if they give a discount for the company you work for or check out your company's HR page for deals they offer to their employees.  

I am cutting out going out for food, which is hard for me. No more running out of the office for lunch or snacks (eek!). Since its difficult to find a lunch in midtown for under $10, I will be saving myself approximately $200 if I bring lunch everyday this month!

Also for food, I will only buy store bought food, that is on sale and or with a coupon (my coupon rule is that I cannot use a coupon unless the item is also on sale). All meals will be eaten at home and leftovers brought into work for lunch. 

Transit is another difficult one, I take the train everyday and I have a month pass, so I will not be cutting it out (I gotta get to work to bring home the bacon). I will make a good effort to use the subway as minimally as possible when in the city (walking to and from work is difficult because it is a 30 block walk plus with a shitty train schedule). While I am at home in the suburbia-land I will make an effort to walk whenever possible. My boyfriend and I walked the mile and a half to my parents house for dinner on sunday, it was beautiful out.

The wants list is what makes me sad. I have been wanting a new camera for a while, so that I can take better photos for you guys on the blog, but that can wait. I have been wanting to decorate my apartment so it looks beautiful and homey. There is no use dwelling in what I cannot buy, better use concentrating on what I can buy and what I can re-purpose. It's time to get crafty.

All the money I save during this month I will be throwing towards my credit cards, to help get my debt down. At the end of this month I will let you know how it went as well as I may check in from time to time. 

Are you good at budgeting? Would you try a spending diet?