Guest post from Amanda of Tie Dye Lemonade
Earlier this year, my husband and I declared a three-month “spending freeze” in our household.
A spending freeze is just what it sounds like, freezing your spending. That means no cute shoes, no spending $20 on dollar store craft supplies for the kids, no Starbucks caramel macchiatos.
It means only spending money only on the basic necessities, and even then, trying to stretch those basic necessities as far as they will possibly go.
To make the most out of our spending freeze, I have been baking up snacks for school lunches, making homemade bread, and creating homemade birthday presents for parties my kids are invited to. There has been deep digging in the pantry to use what we have, deciding if I really need to take that trip into town before I use some of the gas in our van, and A LOT of, “No, we are not picking up pizza for dinner tonight!” conversations with the kids.
I have been finding as many ways as possible to avoid spending money, and I have discovered that not only does a spending freeze help our bank account, but it also touches other areas of our life.
Here’s what I’ve noticed:
1. We’ve had less garbage and recycling.
Since I have been making a lot of convenience foods instead of buying them, there isn’t as much packaging coming into my home. Therefore, there is less to dispose of. Not only is this good for the environment, but this helps us save money as we have to pay every time we put a garbage bag out.
2. We’re eating healthier.
Not going to lie, I really miss eating out. However, not eating out means making healthier, homemade meals.
We really were eating too much pizza for awhile there. Now, I feel better about the meals my kids are consuming daily.
3. We’re being more productive.
Not spending money means no going out unless it’s free. Well, it’s still cold here in Canada, so the list of free outdoor activities is pretty limited.
Instead of spending all my time away from home, I am doing tasks around the house that have been neglected for some time. If you are at home more often and you are staring at that wall that desperately needs to be painted, and you have all the paint and tools sitting in your closet because you bought them awhile ago, all of a sudden it seems like a really good time to finally complete that project.
4. We’re spending more quality time with my kids.
Four out of the five of the people in our family are extroverts and gypsies at heart. We love to go out. But going out doesn’t always equate to spending quality time together.
Since shopping is banned in our house right now, I am forced to think of things that are fun and exciting to do at home. Right now my daughter and I are reading through the book The Chronicles of Narnia to spend some time together. Reading a classic, while cozy under a blanket with your family. What more can you ask for?
My kids knew why we were doing what we were doing. If they were disappointed that we were not buying something, I would remind them that the less we spent now meant that we could go on a trip later in the year. They always seemed satisfied with this answer.
After the spending freeze came to an end, we discovered that in only 3 months, we had saved $600 for our traveling fund and paid off $800 of credit card debt!
Instead of spending Christmas money that was gifted to us, we used it towards the debt… and did I mention that the 5 of us live off off an annual income of $32,000?
The spending freeze is now over, but we are way more careful about how we spend our money. No more frequent trips through the drive thru, no more eating out constantly, no more spending sprees at the thrift or dollar store.
In the end, it is this frugality that will help us achieve the goals we have set for ourselves, whether it be to pay off debt, travel to other parts of the world, or purchase that jetski we’ve been dreaming of.
So now it is your turn.
Try a spending freeze and watch as it benefits not only your bank account, but also other areas of your life.
Amanda Carew is a mom to three small, very rambunctious kids. When she isn’t busy finding ways to save more money, she is dreaming of travelling or making tie dye clothes and pallet signs. Amanda blogs over at Tie Dye Lemonade.
photo source
