For the Spending Detox Challenge, I decided to go with #2, make a holiday budget and #3 don’t overpay.
Challenge #2: I decided to go with this one because I usually splurge during the holidays. I often buy last-minute gifts for family and friends, and that’s usually the worst time to buy. My nephews are 8 and 10 years old so I always try to be “the cool” uncle by buying the hottest holiday toy or a full-priced video game. This year, I decided that I am going to plan earlier when it comes to gift-buying, but also buy on a budget.
Also, my friends and I usually do a “secret Santa” type of thing, but this year we all agreed to avoid buying gifts for one another. 2020 has been strange, and it’s more important than ever to really re-strategize how we spend our money, especially during the holidays. As for my nephews, I’ll be looking to buy more practical gifts.
I decided that I’m only allowed to spend $65 on gifts from here until December 10th. I think that’s a fair amount. I usually spend around $150 - $200 when all is said and done.
For challenge #3 I really wanted to apply this to my grocery shopping plans. Too often I walk to the local Whole Foods when I’m too lazy to shop at the more reasonably-priced grocery stores, and man it kills my budget. Instead of being lazy, I will make a concrete plan to grocery shop once a week at places like Kroger or Walmart to make sure I get the best deals on the items I need. It might also be time to buy more “in bulk” so that I can make fewer trips to the store.
No, I’m not the guy that’s gonna take 100 rolls of toilet paper, I promise 🙂 Generally, I won’t be overpaying for items at Whole Foods just because I’m hungry and want something now.
My overall theme of both these challenges that I chose is plan and budget better.