My First Spending Freeze

join me for a spending freeze

My first spending freeze is about to happen, you guys and I have to say…I am NERVOUS! This all started when I was sharing with my friend Diana about my spending cleanse I did in January. I took the whole month and didn’t buy a single piece of clothing, makeup, chapstick or anything else that was not a necessity for myself or my kids. I am talking about the extra things…even with food…like do I really need kombucha today or can you just drink some water? I didn’t go to Starbucks, I made my own coffee! I had to REALLY ask myself, IS THIS A NECESSITY? DO I HAVE SOMETHING LIKE THIS AT HOME ALREADY? CAN I GET BY WITHOUT IT?

join me for a spending freeze

I know this may sound silly to some of you but for me, I wanted to really think about every thing I chose to buy and not just buy it…I was feeling like I had so much excess that I wanted to start shedding that out of my lifestyle and really focus on a more simpler life. It was definitely a challenge but also really taught me what I really need vs. what I really want. I love talking to Diana about these things because she is so supportive and shares a great perspective on things! She then shared with me this YouTube channel by Jordan Page called Fun, Cheap or Free. I was instantly intrigued! Not only is this lady HILARIOUS and SO FUN to watch (trust me!) she has some great tips to live a more financially free lifestyle (and she has FIVE kids….FIVE!!!). So let’s get into it…

Spending Freeze

What is a spending freeze?

For a specific amount of time, you spend NO (ZERO) money. I am going to do it for 1 week, 7 days to be exact!

The Rules

  • No on-demand movies
  • No eating out
  • No baby sitters
  • No groceries
  • No app / music / book (or anything else on apple pay) purchases
  • No gifts

The Exceptions

  • Paying utilities are okay (phew, I won’t be homeless, or without WIFI, LOL)
  • Bills are okay
  • Emergency
  • You can use a Gift card / voucher

The Purpose

The purpose is to retrain your brain to say no or to tell yourself, “It can wait.” We all like buying things and we need to in order to survive, but how many of our decisions are impulse and little $1, $5 or $10 purchases that we don’t need? I’m pretty sure I have quite a few of those (um, hello Target Dollar Bins, which are NOT always $1 – so deceiving!).

In addition to retraining yourself, another purpose is to SAVE MONEY, duh! Who doesn’t wish they had more money saved?! Do you know how much money you spend on a weekly average? Well, I don’t but I am about to find out!

What you should do with the money you save:

  1. Put the money towards any debt (no fun but a good decision) you have.
  2. Put the money in savings and leave it there for emergencies that may come up or that vacation to Europe you’ve always wanted to take!

How to prepare:

Jordan actually tells you to do nothing, but if I am being honest, that gives me a little anxiety like, “Will I make it through the, week? Will I eat? Will Cruz have pull-ups to wear or will I be forced to potty train him right here, right now?! Lord help me! She says, don’t stock up beforehand or spend extra after to buy all the things you wanted. That defeats the purpose of retraining your brain!

Get creative! Dig through what you have in your pantry or freezer and use it!

Is it hard? Uh, yeah! It’s a challenge. That’s the purpose….

Pick up where you left off afterwards as if it is a normal day.

Tips that I will be doing to prepare:

  • Stay home as much as possible during that week
  • Fully committ and know the benefits will be worth it…
  • Fill up the car with gas
  • Make sure I have a few food necessities (milk, bread, coffee)
  • Make sure I have enough pull-ups (diapers) for Cruz (he’s 2.5 years old)

The Dates: March 12th (Monday) – March 18th (Sunday) 2018.

I will be documenting my week and everything I am doing over on Instagram Stories, so join me there! And be sure to tag me and use #spendingfreeze if you are joining in on the CHALLENGE and FUN!

Follow along with Diana too! Here’s her blog post about her spending freeze week.

LET’S DO THIS!

 

 

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