October 5, 2016

October Spending Freeze


I could spend half of an afternoon reading posts about spending freezes and scouring Pinterest for budget ideas and templates. Maybe it’s just me, but it seems as if no matter how much money I have coming in, it seems to leave just as quickly! Now that I have a new job, I need to be more conscious of what I’m spending my hard-earned dollars on. What better way to do that than implementing a spending freeze for October!

Although we’re already a few days into the month, I’m committing myself to a “no spend” month. Why “no spend” in quotations? Because of course I’m going to spend; there are bills to be paid and groceries to be purchased. What I’m talking about is banning all excessive and non-planned spending. I’ve already budgeted my $100 allowance for the month, and that cash will have to last me through happy hours, Junior League events, and work lunches. If I tell myself I’m not allowed to buy lunch out at all or force myself to only drink water at a restaurant, I’ll hit the wall fast and end up saying “SCREW IT” to the whole plan.

I’ve chosen October for this challenge for a few reasons. First, I’m hoping to get some extra mileage out of my birthday. When my parents asked what I wanted for my birthday gift, I requested a 10-pack of classes to my favorite barre studio. Second, the holidays are coming up quickly and I’d like to have a little extra cash in the bank for the unexpected holiday spending that always seems to pop up in December. Finally, I have a pretty busy schedule this month, so I won’t be tempted to shop out of boredom. Plus, there’s so much that needs to be accomplished around the house, and this is the perfect month to take care of that to-do list that I’ve been putting off.

As far as the big events I’m aware of for the remainder of this month – two Junior League happy hours, two JL meetings, book club, two home PSU games and one away game, a JL fundraiser, a Dress for Success gala, and our four year wedding anniversary – a plan is in place and I’m ready to go. I’ve withdrawn some cash, hidden my credit card, and gathered as many coupons as possible. Plus, I’ve decided that if I have a gift card, I’m allowed to spend it, as it’s not money that affects my bottom line. So here’s to this month’s money challenge. Bring it on, October!

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