Pinching pennies

Could you spend no more than $10 per day?

I am starting a challenge. I will spend no more than $310 for the entire month of July. $10 per day or $70 per week or absolutely nothing after I reach my quota. Want to join me?

Since learning how to use a debit card in grade 6, I have had shopoholic tenancies. At night I fantasize about new summer dresses and cute sandals. But I feel guilty. Now that I'm trying to pay off debt, I feel overly conscious of every cent.

I have made budgets in the past and failed, miserably. Then I made a list of expenses for next year. I will be significantly more in debt by next April, and need to keep a tight rein on the finances until then. I can't rely on more credit than is available to me: a foreign concept.

So – the result was that I will have roughly $300 per month to spend on incidentals. This does not include my rent, phone, utilities, and I set aside $50 per week for groceries. So I should be fine, right?

Well, in a perfect world.

Theoretically since I live at home, don't drive a car and don't pay for food, now is the time to try this. It should be easy. It isn't. Being social depends on money. Even if I go for walks with friends instead of grabbing nachos, opt to rent instead of go to the theatres, and pack a lunch everyday, things add up. Peer pressure didn't end with succumbing to Mike's hard lemonade. Try being the one who doesn't want to splurge on an evening of half price apps and full price beer.

The thing is, I find that my perceived standard of living has gone up. My social life involves nice dinner and wine. I don't pre-drink, drink excessively, or go out that often, but a few cocktails every Friday at the bar adds up, to well, the equivalent price or two nights out in undergrad. Making this worse, half the people my age do have real world jobs and disposable incomes. I do not. [Sidenote: I nearly cried this morning when I saw that $150 of my most recent subbing cheque went to taxes. What is the point of being a socialist anyway?]

$310 in 31 days baby. This will be an exercise in self control. I may not succeed. I may have a emotional breakdown and lose it all at the mall. I may, however, prove that it is possible.

I'll keep you posted.