I’m issuing a challenge: Budgetober, which will run from October 1 - October 31.
The goal for budgetober is set and stick to your budget for the month of October. It’s also vaguely halloween themed. Also it has special forum badges and even a STICKER for people that complete the whole month.
- You must establish a budget, a way to track it, and target amounts for the budget.
- Your categories can be as broad as you like, or as specific as you want. You can even just choose a single amount for the month, You can also track + limit one category if you prefer (i.e. grocery spending, restaurants, or stationary splurges.)
- You’re allowed one week where you wave a magic wand and “re-cast” your budget . This means if you go off the rails in a category, or something big comes up, you can set a new budget for the month. Don’t get discouraged just because you have an off week! Jump back on the budgeting haywagon! (I told you this was halloween themed).
- Each Friday (or Saturday for the Aussies/Kiwis) you use this thread to report how you did on your budget for the week. You can report on where you’re at, and what your biggest challenge and victories of the week were. Then, you’ll put your predictions/goals down for the budget week ahead.
Who This Challenge is For
- Maybe you’re already great at sticking to your budget , but you want to try out adjustments to your categories or a low-spend month.
- Maybe you don’t currently do a budget , but feel like maybe your expenses are creeping up and want to use October as a chance to do a check-in and see how you are doing.
- Maybe you have a pandemic paycut or furlough and need to live on less money for awhile.
- ** Maybe you’ve been spending a bit too much on take-away orders, and want to dial it back a bit. One months seems doable!
- Maybe you’re tired of “cleaning up” categories the last week of the month - i.e. moving money from a too-full grocery budget into an overspent takeaway category. So the goal here is to change behavior or reset categories to more realistic amounts.
- Maybe you’ve never budgeted before but it feels overwhelming to start. Perhaps one week at a time, for only a month, seems achievable! You don’t have to do it forever, just for October.
What do you get out of participating?
- Deep Satisfaction of trying to stick to a budget this October
- Community support for whatever your budget goals are for October!
- Budgetober success shout outs on the podcast
- A weekly CUTE halloween-themed forum badge for participating in the weekly check-in
- And if you do all 4 week check-ins, you get a STICKER mailed to you. It’s halloween, cat, and budget themed. I will mail these anywhere in the world.
If you’re in to participate (or on the fence and need encouragement), comment below with what you’re hoping to get out of Budgetober and your favorite halloween-themed creature or object.
Resource List for Budgeting
- Oh My Dollar! episodes (most with transcripts) on Budgeting
- My personal favorite budgeting app (YNAB) which has a 34-day free trial
- Lillian’s slide deck review of different budgeting apps to try out
- Oh My Dollar blog post: " A Budget Review Helps You Set & Keep Badass Resolutions "
- One last shameless plug: A Cat’s Guide to Money (Lillian’s book which has 3 chapters on budgeting)