I mentioned the idea of a spending freeze in February to my husband about a month ago and even though he wasn't entirely sure, he was on board with it. Especially since we will be getting a new car very, very soon, it's a great time to get our spending in check. That will be a hefty chunk out of our savings that we will need to bulk back up.
What does this "freeze" mean? For us, it's about getting our spending under control and helping us realize how much we spend on things we don't really need to. It's the ordering in or going out to eat. It's the multiple trips to the grocery store to buy "one" item that actually turns into 5 other things we don't need. It's the online shopping. Amazon Prime sucks me in.
Our spending freeze plans:
Planning out events. We have Chinese New Year, a baby shower and a birthday in February. The gifts have already been bought and the money put aside to spend for these. Outside of those events, we do not plan on doing anything. Yes, we are aware it's Valentine's Day. But it doesn't have to be an all out celebration. There are many ways to enjoy a Valentine's Day for free or barely any money. I have a couple of ideas up my sleeve for this one.
Planning meals. Our grocery store trip will be just what we need for all our meals for the week. Nothing more, nothing less. I will also go through our cabinets to see what I can make with what we already have. I tend to overbuy sometimes and there's a good chance there's more than a few meals in there. Avoiding multiple trips will help avoid buying things just that I see that are on sale. I have also signed up AHEAD OF TIME for a healthy meal service. It takes care of at least 10 of our dinners for the month. I have already subtracted that from our weekly allowance for meals.
Unsubscribing from emails. It's all those "GET 50% TODAY ONLY!" and "HERE'S YOUR $10 COUPON" emails. I click on them more times than I want to and I would be lying if I said I didn't fall for it once in awhile. If I can get rid of all of those email, I would be oblivious in a good way, what sales are going on and what I am missing out on. They all do their job making me feel like I NEED those fleece leggings. Which the email tells me at least every other day I need because they are on sale.
Wearing out of my closet. Like every other woman on the planet, I spend money on some sort of clothing, shoe, jewelry every month. This month I am going to live out of my closet. Unless I end up having to go to a ball, where I do not own a ballgown so I would have to buy one, I do not NEED any new clothes this month. Sure, there are many wants but no, no, no.
I am not sure how this month will go. I am confident we can make some changes in our spending and make ourselves realize just how much we spend on wants rather than actual needs. Wish us luck!
Have you ever done a spending freeze? What are your tips?