For the month of February, my suburban family of three from Apex will attempt to live our lives without spending money.
No dinners out, no clothing, no gifts, no entertainment, not even a weekly trip to stock up on groceries.
No kidding.
We will eat breakfast, lunch and dinner from the stash in our pantry and freezer. We will amuse ourselves without opening our wallets. And if the occasion arises to give a gift, we will just have to get creative.
Needless to say, we won't be making any road trips to the mall.
This year's dollar diet will be the third time in three years that we've challenged ourselves to unplug from the consumer-driven lifestyle.
I first got the idea back in January 2009. Still reeling from the stock market tanking the previous fall, I stumbled on an article about a mom in Virginia going cold turkey on spending for two weeks.
From their last drops of olive oil to her husband's trips to Best Buy "just to look," she blogged about the highs and lows of making do. I was hooked.
If they could do it for two weeks - and they weren't even particularly frugal - we could certainly do it for a month. After all, I was a coupon guru and a pretty savvy shopper.
I had grown up in a thrifty family, the child of two Depression-era babies who worked hard to give my brother and me more than they had. They also made sure we knew the value of a dollar.
Soon after marrying and starting my first job, I began using coupons to help stretch my $15,000-a-year salary as a newspaper reporter in West Palm Beach, Fla. Those quarter and 50-cent coupons made a difference.
That frugality continued through the years as our family grew.
We never pay full price. My husband drives a 16-year-old Honda. Thrift stores are a regular stop on my shopping route. Garage sales have been a main source of baby clothes, kids' toys and home furnishings.
But no-spend challenges are different.
Instead of spending less, we're trying to spend nothing. It requires a whole new skill set and a whole new way of thinking.
During those first two February spending fasts, I was drawn to learning about spending our money more consciously and living more simply.
More time to spendWhat began as an experiment in saving money through deprivation evolved into more of a spending vacation. With shopping eliminated from the to-do list, I had more time. I read more, we spent more time as a family, and I worked on long-abandoned projects and hobbies.
Without realizing it, we had stepped off the consumer grid - and it felt good.
We discovered that if we bought less, we had less clutter to manage, less to dust, less to clean, less to worry about. In turn, we were wasting less and sending less stuff to the landfill. And, bottom line, we were saving more money than we ever dreamed of saving by shopping sales and using coupons.
Two years later, we've come a long way. We've purged our house of bargain-priced clutter, and we think twice before we purchase anything new. If you don't need it, it's not a deal, no matter how cheap it is.
What do we hope to accomplish during our 2011 version of the spending diet?
I've got a lot of things planned for our spending vacation, most of them a continuation on our path to a simpler lifestyle. There's a pile of "stuff" to be posted on Craigs list or given away on free cycle and a sewing project to be completed using recycled materials. I have two or three books I'd like to read, and I'd also like to see whether there's any correlation between our dollar diet and a healthier lifestyle. We'll certainly be eating healthier since fast-food stops are forbidden.
Saving several hundred dollars would be nice, too.
Gearing upNow the fine print. We will pay our mortgage, electricity, gas and all of our other regular monthly bills, which includes our cable package.
I realize cable is not a necessity, but let's just say I value my marriage.
We'll gas up the cars to get to and from work and pick up our daughter from school when it's our turn to carpool, but we'll limit our reliance on the cars otherwise. If someone gets sick, we'll go to the doctor.
And we'll set aside $10 a week for milk and an infusion of fresh produce.
We will use coupons I have on hand for free items, but we won't use the stack of gift cards that we received as Christmas gifts. That just wouldn't be in the spirit of the challenge.
If necessary, we will borrow or barter. And we will accept any and all invitations to dinner from family and friends.
That's pretty much it. If it's discretionary, it's off-limits.
In the interest of full disclosure, we have not gone on any wild shopping sprees during January. We've stuck to our usual $50 a week grocery budget, which includes all our food, over-the-counter medicines, paper products, toiletries and dog food. Although that may seem a little low, I buy very few paper and plastic products and I routinely make my own laundry detergent and foaming hand soap. I'll be making a final run to the grocery on Jan. 31, with whatever cash I have left from my $200 January budget. Milk, cheese, produce and any good chicken deals are on my radar.
My only fears as we embark on 28 days of dollar dieting?
1. Running out of toilet paper. Don't even want to think about it.
2. Running out of Diet Pepsi. Got to have my morning jolt of caffeine.