Spending Freeze

If you didn’t see my news from yesterday, I’ll be venturing out on my own and freelancing full-time starting in August! I’m thankful to have a contract position with a phenomenal studio here in Columbus (until May) but Adam and I budgeted together and we realized we need to cut back on excessive spending. After we paid of debt, it was easy to feel like we could easily increase our living expenses but we still have financial goals to attain!

We’re taking various small trips in August, a big trip out to Philadelphia in September and then a tropical vacation in October so a lot of our extra cash will be used towards those expenses. I decided that I would go on a spending freeze until October 1st since I assumed that I would want to buy a few new outfits before our vacation. That’s two whole months and I’m about 85% sure that I can do it. The spending freeze includes things like clothes, jewelry, and just extra things I don’t need. Obviously we’ll still budget money to spend throughout the week on things like date night, occasional drinks with friends, and those unexpected trips to CVS for things like paper towels (ha).

I’ve come up with a few “workarounds” to ease the pain:

  • Host a small nail polish swap with my friends in September
  • Utilize my Birchbox points! (If you want to sign up through my referral link, be my guest!)
  • Sell a few clothing items to Plato’s Closet if I need to buy anything small
  • Actually read the books sitting on my bookshelf when I want to buy new ones (to only sit on my shelf)
  • Take advantage of free events here in Columbus!
  • Borrow/swap clothes with friends for special occassions

Have you ever gone on a spending freeze? Any tips or advice? 

July 24, 2012