This February we invited readers to take the Frugal Month Challenge and commit to what some have called a "no-buy month." My family of four embarked on this cheap-living challenge and now I'm back to share the results. I am proud to report that we saved $544 during the month, a 66 percent improvement over last year.
A quick refresher on the rule: Buy nothing extra -- only the bare necessities. For my family that meant we paid our mortgage and other monthly bills and bought groceries, dog food, and gas, but that's pretty much it. We even tried to pare down our grocery budget to increase our savings.
After accepting this frugal/no-buy-month challenge for the past few years, and having saved $328 in 2014, I was a firm believer. Truth be told, my husband and I actually looked forward to a no-buy month. Although we regularly try to stick to a tight budget, we fell off the wagon last year, especially around the holidays.
So once again, we eagerly embarked on the frugal month challenge and the results didn't disappoint. We saved $216 more this February compared with last year. And as always, the frugal month practice showed us where there is room for improvement.