Just in time for the holidays, I've been seeing "Spending Freeze's" pop up in my social media news feeds. What are they exactly? Well, it's a time frame consisting of a few weeks or months where unnecessary spending is not allowed.
Now hear me out - I'm not saying you can't spend any money at all. A spending freeze just suggests the basics for that time frame. No eating out, no splurge's at Target or ToysRus, etc. I'll be honest, I've never done a spending freeze, I'm a big shopper. I love a good sale or deal and even better when I have a coupon for it, or I find a free shipping code. I don't crazy shop but when it comes to the kids, I enjoy shopping for them instead of myself.
How do you get started? Well, decide how long you want this freeze to go on, one week, two weeks, a month? Then plan out meals for that time period, check what you have available in your fridge, freezer and pantry already. Next, look at your bills - are any due during this time frame? If so, pay ahead so nothing important gets turned off or disconnected during your spending freeze.
A spending freeze for me is a lot of mental preparation, controlling my impulse shopping and resisting to buy stuff for a few weeks. It's a great time to put extra money away for holidays or for an extra car payment, etc. It's also a good time to focus a little more on what's important - spending time with my family, not spending our evenings eating out or hanging out at the mall but spending quality time together.
Could you do a spending freeze? How long do you think I'll last? Keep your eyes peeled for an update post soon!