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Go on a Spending Freeze: Advice, Tips and Stories

post #1 of 15
Thread Starter 

spending freezeThe last and final step of the Forget the Joneses Project this time around is to go on a spending freeze.  Don't buy ANYTHING that isn't an absolute necessity (such as paying your mortgage or filling your car with gas to get to work).  Prepare meals from what you have at home already, skip eating out, and find ways to entertain yourself for free.

 

The amount of time you devote to the spending freeze is up to you.  Personally, I'm challenging myself to a one-week freeze.  The longer you can successfully stick to the spending freeze, the more debt you'll be able to eliminate.  If you have debt, you may be better off challenging yourself to a one-month freeze.  What have you got to lose?

 

  • In order to ensure you succeed, plan your freeze for a period of time that doesn't compromise your success.  If you try to complete a spending freeze during a vacation or when a lot of activities are planned you may be setting yourself up for failure.
  • Plan your meals in advance based on what you have at home.  Challenge yourself to use up whatever fresh produce may be at risk of spoiling.
  • Stay out of the stores.  If you MUST go to buy something necessary, stick to a list.  Set the timer on your smartphone to see how quickly you can get in and out so you're not tempted to linger.
  • What will your weekend entertainment be?  Plan ahead so you can pick up movies from the library, invite friends over for a potluck, etc.
  • Do you have a special event to celebrate?  Try your hand at making homemade cards and making a homemade gift.
  • Barter for goods and services.
  • Kids need new clothes?  Trade in old ones at Once Upon a Child and use the proceeds towards what is necessary.

 

If you plan on joining us, let us know here.  How long do you plan to put a moratorium on spending?  When will you start? Sticking to the freeze is easier with the support of others! What will your biggest challenges be?  Do you have any advice, tips or stories to share with other members?  What are your tips and advice in getting through the freeze successfully?

post #2 of 15
Thread Starter 

I am starting my 7-day freeze today!  Who else is trying to stick to a spending freeze?  Here are some tips on how to get things for FREE.

post #3 of 15

We are starting ours today.  By "we" I means "me." My husband admitted he usually ignores it. I told him it just meant we aren't going out to eat at all, then.  It's me that spends most of the money (bill-paying, groceries) and he will be out of town with the company paying his expenses most of the week anyway.

 

I should be able to get away with one small shopping trip.  Plus, I have to order a photo book for FIL's birthday (a group gift, but I'm in charge) and I'm going to order my own photo prints while I'm paying the shipping anyway.  I hope not to spend anything else.

 

My plan for this week's spending freeze includes:

  • no online shopping
  • one grocery trip for essentials only
  • going to library story time
  • going to kids' free lunch at IKEA (and not getting anything for me)
  • maybe going to the farm, museum, or aquarium (We have memberships)
  • I'm hosting a playdate, so I'll make snacks out of what I have on hand

 

We do have a lot of gift cards for eating out, so if my husband wants to go out next weekend, we might just use one of those.

post #4 of 15

I will start today too.  I might have to make a run for milk or fresh vegetables, but I'm going to try and stay in at lunch time and read instead of window shopping which always leads to a must-have sale item.  I usually am too tired after work to shop, so that is my goal--just staying in all week.

post #5 of 15
Thread Starter 
Quote:
Originally Posted by swishina View Post

We are starting ours today.  By "we" I means "me." My husband admitted he usually ignores it. I told him it just meant we aren't going out to eat at all, then.  It's me that spends most of the money (bill-paying, groceries) and he will be out of town with the company paying his expenses most of the week anyway.

 

 

Yes, I doubt my husband will follow along whole-heartedly either.  He usually goes out to lunch for work at least two or three times a week.

post #6 of 15

We started something like this 3 weeks ago.  No buying coffee or soda at the gas station, no resturants, only what we make at home.  It has been absolutely amazing results.  We have become more creative with meals, spend more time enjoying a nice home cooked dinner with family and friends, and for an added bonus, each time we say, I wish I had a coffee, or soda from DD or Cumbys, we have to put the price of the drink in a savings jar.  And at the end of the 6 weeks, we will go out and do something fun. - And i am almost positive it will not be out to eat at a resturant.  We are seeing just how much money has been wasted on fast food, gas station coffee, etc.  Plus we are all feeling much healthier!  :)

post #7 of 15

What a great idea!  I've been doing some of this lately but I try it for a week too. I need to start really planning my meals anyway. I better start tomorrow since I already shopped today.

post #8 of 15
Thread Starter 
Quote:
Originally Posted by TulsaBelle View Post

What a great idea!  I've been doing some of this lately but I try it for a week too. I need to start really planning my meals anyway. I better start tomorrow since I already shopped today.



Start anytime!  Glad to have you join us.

post #9 of 15
Quote:
Originally Posted by Kim View Post

 

Yes, I doubt my husband will follow along whole-heartedly either.  He usually goes out to lunch for work at least two or three times a week.


I came home today and he'd gotten his car wash and went out for breakfast rolleyes.gif At least I saved at the grocery store!

post #10 of 15
Technically I started yesterday. My biggest tip for being able to stick to it...


PLANNING


You HAVE to plan things out to be successful with it.
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