First, a disclaimer...I didn't come up with that clever phrase, "frugal fast." It's from author Jeff Yeager in his book, The Ultimate Cheapskate's Road Map to True Riches.
I haven't read the book yet, but I've added it to my Wish List on Amazon. But the idea of a frugal fast, for a single week out of the year, is intriguing.
The rules are simple: You buy absolutely nothing. The idea is that, at least for that one week, you will have freed yourself from having to do the "Money Step," the endless dance of having to earn more to spend more.
During this one week of no spending, I have a feeling we'd all likely rediscover the simple satisfactions of living cheaply. Meals at home. Trips to the library to rent a movie or read a book. I'm sure the list of ways to not spend money for a week will be much longer and varied.
So who's up for doing this with me starting next Sunday, June 13 through Saturday, June 19?
If you must, wrap up any absolutely needed grocery shopping or fill up your gas tank by the end of this week. Only do what's really necessary. Too much "advance spending" will defeat the purpose of the exercise.
Remember, during this week of no spending, there's no fast food, no impulse snacks on the road and no shopping of any kind. If you work, that means no buying your lunch. Built-in expenses like your mortgage/rent and utility bills are, of course, something that can't be avoided.
At the end of next week, I'd love to hear how you spent your time, if you felt "deprived" and whether you think you saved any money.
Who's Up for a Frugal Fast?
June 9th, 2010 at 01:51 pm