Monday’s Financial Challenge: June 2, 2008

June 2, 2008 | Written by: Connie Brooks

make do with what you have? It’s Monday again, and that means it’s time for another Financial Challenge here at Thrifty Mamas!

How it works:

I challenge YOU to do one thing each week to change your financial situation for the better.

If you decide to do today’s challenge, please leave me a comment below with the amount you saved so that I can cheer you on!

This week’s mission (should you choose to accept it) is to “Make Do”.

Each we we are presented with nearly limitless opportunities to buy new things. If something breaks, we run out and get a new one. If something gets worn out, we simply throw it away and replace it the next time we are at the store.

This week I challenge you to “Make Do” with just one item - especially if you would have to use credit to replace it.

Just pick at least one thing from the list of all the things you want right now, and make do with what you have instead.

I am going to pick two - one large and one small.

I am “Making Do” without a dishwasher. We want one, and we have the cash to buy it, but it would drain our savings. OR we could put it on credit. In the past I would’ve just taken the money out of savings (to avoid financing it and paying the interest.)

For now, I am going to keep washing the dishes by hand. I will do this until we have enough money saved that paying cash for the dishwasher will not put our savings below my comfort level.

Savings: $600 after installation.

My second “Making Do” item: Nail polish. I am still on a quest for the perfect color….and I have a terrible habit of chucking a couple different colors into the grocery cart each week. This week I am going to make do with the slightly-too-brown / way too red / what was I thinking colors I already own.

Savings: $12.

How about you? Are there any items you can “Make Do” with this week to cut your budget? It can be something as silly as my nail polish or as big as a car or a house. Leave a comment and let me know how you are “making do!”

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