Thrift Challenge January


Thrifting Purchases

Week of January 8, 2015 – Total: $20
Week of January 14, 2015 – Total: $5
Week of January 17, 2015 – Total: $6
Week of January 22, 2015 – Total: $20
Week of January 29, 2015 – Total: $31

January Month End Total: $82 | Goal: $80 | Overbudget: $2

With my first month of my thrift challenge complete, I am already amazed at the results. I budget the rest of my life for essentials but it had not occurred to me that I should be budgeting my entire life including entertainment, not just bills. After mentioning the idea to a few friends and coworkers the general consensus was that I would be shocked when I started seeing the numbers. I try not to think about what I probably spent over the past year and instead focus on what I’ll be saving this year, and from now on.

I had no idea what to start my budget goal at, based on the Thrifty Threads Challenge, I knew $50 was probably too low for a weekly shopper. I set my goal at $80 with the expectation that I would gradually try to lower that amount. I was truly surprised that I just about met my goal save for $2. I was doing really well up until the last trip keeping my totals under $20 and its funny, now I feel like I splurged on the last one at $31. I know there were many occasions last year where I left with $50 worth of merchandise.

It was definitely an eye-opener seeing the amounts I was bringing in that wasn’t perfect. I now am very particular about what I decide to take home with me. I do not shrug when I see a stain or a seam open, I leave it behind. I am no longer willing to bend on damaged goods. I feel as though my closet has become more precious, the space in it only available to the items I really like. If it isn’t easily altered to fit I leave it behind.

Consignment Income

Jewellery Account
Week of January 5-11 – $80.75
Week of January 12-18 – $26.60
Week of January 19-31 – $32.30

Total: $139.65

Clothing Account
Week of January 5-11 – $72
Week of January 12-18 – $122.25
Week of January 19-31 – $45

Total: $239.25

January Income: $378.90 | Spending: $82 | Month End Balance: $296.90

I also developed a new outlook on my closet, frequent rotation is not a bad idea. I do tire of things very easily so consignment and donation are great ways I can keep a comfortable amount in my closet. People seem to think I just accumulate but in working in consignment, its pretty easy for me to recycle my unwanted clothing. Now there are plenty of times when my things are too worn, thus the issue a lot of the time with second hand clothing. But there are plenty of items I have bought because I felt attracted to them – only to realize that I liked them for someone, not necessarily me.

In tracking my sales of clothing at the store I was blown away to see the results at the end of the month. $239.25 in just clothing sales alone! I also have the benefit of selling my handcrafted earrings at the store which brought in another $139.65! For a grand total of $378.90! Talk about a great source of additional income or “cushion” as it were. In using only account money towards buying items from the store I am able to keep my paycheques strictly for my billing budget. Brilliant!

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