Money Challenge Weekly Wrap Up Week 1

Money challenge, wealth, budget, debt, finance

Have you ever done a money challenge? With your whole family? Exactly one week ago we decided to start a month-long money challenge for March. We allotted ourselves $930 for the month and outlined the rules in our 52 Week Money Challenge in a Month post. If you missed that post, you can go back and read it here.

How did we do?

Week one of the money challenge was split between the end of February and the first few days in March, so most of the weekly groceries were already purchased. However, we did have to make a trip to the store mid-week and it hit the allotment by $108.53. OUCH! We are only 3 days into this thing and already food costs are over $100! We also had to go to the pharmacy for another $14.29, but we agreed in the initial rules that medicine won’t count against the allotted funds for the 31 days. Thank goodness.

I have to tell my deep dark secret here. I was needed at work for a meeting that I knew was going to last into the evening, and everyone in the office was ordering takeout for lunch; I joined them! UGH! Day 2; it only took me until the second day and I caved. The strangest part about this is we NEVER order takeout. It was an unusual meeting where almost all the employees just stayed after work to attend. My grilled chicken wrap cost $6.35, and man it was good! 🙂

This is going to be a lot harder than I thought. The plan is to spend Saturday prepping food (and using everything we have on hand) to reduce the food costs for next week. What is normal food costs for a month for a family of four? I thought we were doing pretty good, but this money challenge already has me thinking we need to do better.

Money Wrap UP:

Total Monthly Allotment: $930

Total Spent to Date: $114.88

Total Remaining Money: $815.12

I would love to hear about your experience with a money challenge. How did you cut back? What are some of your tips and tricks to make it on a specific amount of money? Please leave your ideas in the comments below.

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