We've been mulling over money for quite a while now. First it invovled getting our heads around the new house payments and everything to do with the property. Then we suffered a set-back when Dave lost his job suddenly. Now he's found new secure employment, we've reached that level of comfort again where we don't have to worry.
Still, we can't get money out of our heads - or at least, I can't. Something doesn't sit quite right with me. How much is enough to live on comfortably, without living to excess? The answer to that question came via my daughter. We've always taught her that she just can't have everything she wants. There is only a certain amount of money to go around. Yet, hidden in those words, was the denial that we were spending every spare cent we had on meeting our own desires.
We came to realise that Dave and I don't have any perspective on how much is enough. We don't have a parent in control of our freedom any more, so it's been left up to us. Well, now it's time to develop a new perspective.
We've devised a plan (a challenge) that will last a year for our family. It will be a no spending year. For 12 months we will not spend money on anything we desire. Of course, this is our first attempt at doing such a thing, so there needs to be a few concessions.
Dave & our daughter, mentally prepare for the challenge
I will go into the specifics later on, as we're still in the planning stages, but the general guidelines for concessions will be:
1. We will each receive $5 a week but that's all the access to money we'll get.
2. We need to spend on a few outlays before the challenge, to save money during the challenge.
Like I said, I'll go into the specifics later on, but the intention of the challenge is to limit our desires for an entire year. If something unexpected happened in the future, we would be forced to live like this anyway. Before that happens, we'd like to voluntarily discover how much is enough. It's only for 12 months.
We're hoping to start the challenge from the 1st of January, 2010.