Month Two Totals: In the Spending Fast Trenches

spending fast savings totals

This post is by Chelsea who is currently doing a Spending Fast®.

My second month of being on a Spending Fast has come to an end and I must admit that I am thankful. During the first month I was all like, “Woo, look at me! I’m saving money and being awesome.” This month has been more like, “Ugh, I really want to buy nail polish and chocolate and wine and this whole not spending thing sucks.”

I know that by writing about my journey through And Then We Saved and on my personal site, I have been able to stick with my commitment. It is so tempting to cheat and buy something small every once in a while, but knowing I will have to report back on my progress has helped tremendously. I am an extremist by nature and often get pumped up about doing things and then burn out almost immediately. I jumped into the Spending Fast with the notion that I was unstoppable and could do anything. After eating cold soup (no microwave at work) and cracker sandwiches for lunch, the idea of being on a Spending Fast has become a reality. I am so grateful to receive motivation and encouragement from all the readers who share similar experiences. It’s comforting to know I am not alone.

All that being said, it’ s time to report my month two totals. Drum roll please…

My Month Two Spending Fast Totals…

I have put $50.00 into savings and paid $253.35 towards my debt. (Putting money into savings while paying off debt is something different than what Anna did when she did her Spending Fast. She paid off all of her debt before putting money into savings because as she says, “she couldn’t help but want to spend the money that was in savings”.)

That brings my total debt down to $23,514.05!

I have around $1,900 left on my credit card and the remaining is student loan debt.

Although this month didn’t produce quite the amount of money that month one did, I am grateful to see my savings account coming to life and my debt shrinking. Only two months ago I was over 90 days behind on my credit card payment! And now, in only 60 days, I have paid over $1,400 towards my debt!

Reflecting on my progress has created a renewed passion for this Spending Fast journey. I have money coming this month from my envelope addressing shenanigans as well as money pending from eBay sales. I am excited to find ways to meet my goals for this month and share my experiences with you.

Oh hello Month Three, you’re looking quite promising.

 

How are your savings goals shaping up?

Chelsea Overton is in the midst of her Spending Fast® and writes about it from North Caroling with her bulldog, Xena, and boyfriend by her side. 

21 comments

21 thoughts on “Month Two Totals: In the Spending Fast Trenches

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  1. Jane

    Hi Chelsea–

    Congratulations for sticking with your decision to make these changes. Change is very difficult and we are only human. That you struggle is part of the journey. The trick is to just put one foot in front of the other and you will make good progress.

    Also make sure you take care of yourself. Cold soup and cracker sandwiches will not support this. I think prison food is better :)

    Jane

    Reply
    1. Chelsea Overton Post author

      Hi Jane,

      Thanks! I like to think of struggling as a good sign. If it were easy, everyone would be debt free! It makes it seem more exciting in a way.

      Hahaha prison food may be better actually. With no microwave it’s hard to plan substantial lunches. I’ve been packing big salads this week and it’s much more filling!

      -Chelsea

      Reply
  2. Amy

    Chelsea, way to go! This is very motivating for me. I started my spending fast in December 2012. This month, I paid off credit card #1 ($517) and paid $1300 towards credit card #2, leaving a balance of about $6500. This is the least credit card debt I’ve had in over 10 years! I have been paying the minimum after all these years, and still have a bunch of student loan debt to go…. Am trying to be debt free in a year’s time and am trying to stick with the plan – all while planning for our first baby’s arrival in a few months!

    Reply
    1. Chelsea Overton Post author

      Hey Amy!
      WOW! What a huge dent you’ve already made!! Congrats on such a strong start! Staying focused on your goals is going to make a huge difference. It’s so awesome to think about a new baby coming into a debt free home! What a great way to start! Good luck!

      -Chelsea

      Reply
  3. Christa the BabbyMam

    I really, really, really want to do this but I can’t get my husband on board. Essentially, I would make it about us, but keep things like the P.’s dance classes. I just really want to get rid of his dang student loans!

    Reply
    1. Anna Newell Jones

      Have you thought about doing the Spending Fast solo? My husband and I didn’t have joint accounts when I did the Spending Fast (maybe you two do?) and I was able to successfully get out of debt. Might be something to consider…

      Reply
    2. Chelsea Overton Post author

      Hi Christa,
      I live with my boyfriend and while we aren’t married or have joint accounts, we do share expenses. It is challenging to balance a Spending Fast and a partner at times, mainly because I don’t want my saving to cause him to spend more. I’ve been doing things like using coupons for groceries and taking the extra food money (if any) and using it to split a meal out with him sometimes. I feel okay doing it because I’ve already budgeted that money for food and because it helps keep us balanced. I think that doing it solo may be a good possibility. Be transparent and tell him your goals. I’ve learned that communication is key with something like this. I’d love to hear of your progress!

      -Chelsea

      Reply
    1. Chelsea Overton Post author

      Hi Karen,
      April 1st is so close! I think its incredible that you’ve decided to take this challenge. When I first started, I went to Anna’s oldest post and started reading. It helped me to read her struggles and triumphs as I was experiencing similar ones.

      Please let us know how it goes! It is so awesome to hear how many people are starting this journey. Good luck!

      -Chelsea

      Reply
  4. Wende

    Congrats Chelsea! I can imagine how good it feels to see those balances go down :)

    I’m doing more like the Spending Diet but trying to pay down my debt at the same time. I love this website and am glad to read your posts because you are dealing with similar situations. Good luck on month three!

    Reply
  5. Stolly

    Hey we are just about to finish our 2nd month of fasting too, and yep the motivation isnt quite what it was in the first month.
    I see it as a work in progress though.
    In 1.5 months we have paid nearly $2500 off our credit card ($400 to go) then we will be starting to really work on the personal loan.
    Im looking forward to hearing how well your 3rd month goes!

    Reply
  6. Kimmy @ AfterGlobe

    It’s refreshing to see someone paying off amounts that are do-able. All the time I read articles that talk about ppl paying off $60,000 worth of debt in 6 months. Umm, if I had that much extra laying around in a 6 month period, I wouldn’t be in debt in the first place. Much better to read about others you can relate to. Keepup the good work.

    Reply
  7. Cristina

    You rock! I read your first post a few weeks ago and it’s inspiring to see this one :) I read your comment about packing big salads for lunch, I do that too, and I get a couple of those big bakery rolls from the grocery store (mine sells them 4 for $1) and bring a big chunk to have with my salad. It keeps me full longer and it feels a little indulgent for some reason haha. I also found that sometimes I get tired of all the lettuce, so I just skip it and make salads of straight vegetables, black beans, chick peas, etc.

    Looking forward to reading the next post and again, you rock!

    Reply
  8. darlagardens

    I am new to this site but so glad to have found it. Just told DH and DS of spending fast plan, and then went shopping, but only for essentials (except one pkg of Cosmic brownies). Am rather nervous about whole idea — have about $8500 in CC debt that would love to be rid of. Otherwise, we don’t live a fancy life, but obviously are not living within means. I have quit using the CC two months ago, which is a start I guess. Love to read about other’s experiences.

    Reply
  9. Michelle

    Congrats, Chelsea! I know it’s not easy, but you’re doing great. I’m super inspired by you. You’re totally gonna have that credit card paid off soon!

    Reply

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