Last night, we stumbled on a new show on TLC called Extreme Cheapskates. This episode featured Jeff Yeager, author of
The Cheapskate Next Door and
The Ultimate Cheapskate's Road Map to True Riches. First of all, this man is extreme. I mean he rides his bicycle around town from gas stations to restaurants to laundry mats looking for spare change on the floor and in seat cushions. Most of the things he does to save money, I personal would not do. However, he did present a challenge that I would like to try called the
Fiscal Fast.
In his books, he outlines the fiscal fast, which is a 7 day spending freeze for your household budget. You cannot buy a single thing for a week. And NO stockpiling beforehand. The fast serves three main purposes. 1- It will help you save money. Don't rush out the following week and spend what you saved b/c that defeats the purpose. Instead, put it in savings or pay off some debt. 2- It will give you a new appreciation for how you spend (or waste) your money on a weekly basis. 3- It will remind you of all the great things in life that don't have anything to do with money.
While you're on a fiscal fast, use up the food in your pantry. Canned goods, pastas and sauces, cereals, etc. Use up the items in your fridge that are nearing an expiration date. All the condiments in the door that are almost gone - use them to season/marinade/flavor your cooking. The spending freeze includes gas and necessities too so make sure your gas tank is full and keep your "errand running" to a minimum during the fast. Make sure you have toilet paper, dog food, medication and things that you will absolutely need for the week but DON'T STOCKPILE! Do things at home for free entertainment like play board games or have a Wii tournament. Do a craft project with supplies you already have. Give yourself a home mani/pedi. Ride your bike wherever you need to go if possible AND ride your bike for something to do. Take it to a nearby park and ride the trails. Pick up that book you've been meaning to start and dive in. There are a lot of things to do after work and on the weekends that don't cost money. This is your chance to rediscover those things.
We are accepting this challenge starting tomorrow. Do it with us and comment on the blog about your experience!
In his books, he outlines the fiscal fast, which is a 7 day spending freeze for your household budget. You cannot buy a single thing for a week. And NO stockpiling beforehand. The fast serves three main purposes. 1- It will help you save money. Don't rush out the following week and spend what you saved b/c that defeats the purpose. Instead, put it in savings or pay off some debt. 2- It will give you a new appreciation for how you spend (or waste) your money on a weekly basis. 3- It will remind you of all the great things in life that don't have anything to do with money. 
While you're on a fiscal fast, use up the food in your pantry. Canned goods, pastas and sauces, cereals, etc. Use up the items in your fridge that are nearing an expiration date. All the condiments in the door that are almost gone - use them to season/marinade/flavor your cooking. The spending freeze includes gas and necessities too so make sure your gas tank is full and keep your "errand running" to a minimum during the fast. Make sure you have toilet paper, dog food, medication and things that you will absolutely need for the week but DON'T STOCKPILE! Do things at home for free entertainment like play board games or have a Wii tournament. Do a craft project with supplies you already have. Give yourself a home mani/pedi. Ride your bike wherever you need to go if possible AND ride your bike for something to do. Take it to a nearby park and ride the trails. Pick up that book you've been meaning to start and dive in. There are a lot of things to do after work and on the weekends that don't cost money. This is your chance to rediscover those things. 
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