January Spending Freeze Update

February 1, 2014
http://www.lifeaccordingtosteph.com/2013/12/why-you-should-join-january-spending.html


In the beginning of January I was freaking out about money and how I overspent in December.  When I came across this post about joining other bloggers in a spending ban, I knew I had to get serious if I wanted to get back on the right track!

During the first week of January, I set out some budgeting goals for myself.  Now I'm here to report back on how I did!

The rules for the spending ban were:

1) It lasts from January 1st-January 31st.  I actually started my ban a little later, but only because I didn't know that this was going on earlier, so I'm not beating myself up over that.  I guess I could have extended my ban for another week in February, but I think I would be setting myself up for failure on that one!

2) No impromptu outings that are not scheduled prior to 1/1.  I did have some impromptu outings, but most of them involved going to the movies which did not cost me a cent since I am a manager at a theater and can get in free to anything that I want.  That saved me.  The only impromptu outing I had, was that this week I met up with one of my friends to go out to eat and to go to Bingo.  (I looooove Bingo--I don't care that the average age of a Bingo player is probably 70!)  I'm not really regretting that expenditure because unlike almost everyone else doing this ban, I did not pre-plan outings in the month of January, and I just felt like I had to get out and do something!!

3) No purchases that are not budget prior to 1/1.   I realllly tried not to spend, but I did cheat a little....

*I signed up for this Valentine's Day Swap.  It just looked like so much fun and plus it was hosted by Rachael and Ashliegh, so I just couldn't not sign up.

*This cardigan from Oakleigh Rose will be on its way to me...This is something I did not need and did not budget for.  I could have done without it, but I could not resist it. 

Via

*I sponsored Kate's blog @ Another Clean Slate.  I couldn't help this one--she just started offering ad space and she gave me a coupon code. 

Overall:  No, I was not perfect during this spending freeze, but I'm not going to give myself zero credit, either.  Because of the way I limited my spending, I was able to open up a savings account this month!  If I had just spent my money how I usually did, there would be no such account in existence.  Now that I started the account, I'm hoping to add a little bit to it every month no matter how much (or little) I get paid.  I don't think that I could keep up this spending freeze for another full month right in a row, but maybe I could do a spending freeze every other month?

This link up really did make me accountable for what I spent, and it helped me to save some dough.  I think I would have done even better if I had talked to a lot of other gals who were participating in it while it was going on so that we could have talked each other out of spending.     

Have you ever done a spending ban?  How did you do? 
Post Comment
Noor said...

Spending bans are fun (and helpful) . I'm glad you at least made some progress!

Natasha said...

I think that's great. The point is to be aware of what you're spending and manage your finances better, so I don't think it really matters if it wasn't perfect. I haven't done a spending ban, but I am trying to buy less.

Rebecca B. Bird said...

I think you did pretty well overall! I'm about to write up the conclusion of my 60 day spending ban... I definitely broke it a couple of times, but they were minor cheats so it wasn't too bad. I think the main idea is to spend less and save more than usual, and if you managed that then it was a success!

Erica D said...

I have never gone on a spending ban...I really don't think I ever will LOL but more power to you!

-Erica

Neatly- Packaged said...

This is wonderful! I wanted to sign up for the Valentine swap but I missed the date! Damn... we could have been "randomly" partnered and exchanged French gifts! :) Oh and good luck on the spending ban! I am currently on one too :(

http://neatly-packaged.blogspot.com/

Kate @ Another Clean Slate said...

That sweater is adorable and now I want to buy it too! Thank goodness the ban is over! You did better than me for sure.

Kathy @ Vodka and Soda said...

i was inadvertently doing a january freeze and didn't realize it until january was half over! steph's powers of persuasion is beyond warlock status.

then as soon as jan was over, i got an ad from Old Navy that they were having a 50% off sale on kids stuff and immediately jumped on line and ordered a bunch. and today, i JUST realized that i forgot to use EBATES!! ARRRRGGHHHH!!!!!

kathy
Vodka and Soda

Lisa @ Ameliorer la Vie said...

I don't know about FUN, but it was helpful. I wanted to go on a huge shopping spree when I was done, but I didn't. It was a relief to even be able to buy a couple of things and not feel guilty.

Lisa @ Ameliorer la Vie said...

Yes, it really did help me out a lot this month. I got my credit card bill for Christmas paid off and could put some money aside.

Lisa @ Ameliorer la Vie said...

Oh wow! You're a trooper--60 days is a long time. I know because January seemed like the longest month ever!

Lisa @ Ameliorer la Vie said...

Haha! I wish I didn't need to, but after December my financial state was in ruin. Student loans did not help!

Lisa @ Ameliorer la Vie said...

Oh no, you won't be able to add any gifts to your French collection for the time being!

Lisa @ Ameliorer la Vie said...

It hasn't yet arrived, but I can't wait to wear it! I haven't bought anything cute in awhile. I'm headed over to read how everyone else did on the ban now.

Lisa @ Ameliorer la Vie said...

Hahaha, you're funny. Once I realized that I was a vegetarian for a month by accident, but nothing like that ever happened to me with a spending ban.
I ALWAYS forget to use Ebates!

SMD @ lifeaccordingtosteph said...

Congrats on opening a savings account! That's wonderful.

Thanks for linking up!

Lisa @ Ameliorer la Vie said...

Thanks for hosting the link up! I'm really happy about the savings account.

Jessica @ Anchored in CLE said...

I really like your idea of doing one every other month. I need to become more conscious of my spending.

Lisa @ Ameliorer la Vie said...

It would be cool if they had this link up again! It helped me spend less.

Tracy said...

I would totally have cheated for that cardigan too! Super cute!

Lisa @ Ameliorer la Vie said...

I hope it gets here soon! It's on back order, but I can see why it is! High demand for a cute sweater.

Gwen said...

Finally catching up on blog reading... You did a great job! I didn't include it in my list but I also spent some blog money - I got a new design for mine and I signed up to sponsor Steph in March.

Lisa @ Ameliorer la Vie said...

Yeah, there were a few splurges, but overall, I stuck to it. Luckily I paid in advance for the blog I was sponsoring in January so I didn't have to include that expense on my list!

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