For the entire month of February, I’m challenging myself and you to freeze your spending for an entire month. That means not spending money on anything you don’t need for all of February.
The first time I did a spending freeze was circa 2011. February always seemed like a natural fit for a spending freeze, not least of all because it’s the shortest month. I always get so much benefit from doing it that it’s become something of a tradition. So, this Thursday, I’ll be kicking off another year of Frugal February!
If you think you’d benefit from a similar challenge, I’d love for you to join me! Here’s more thoughts on the why and the how behind this year’s challenge.
What I want to get out of this year’s freeze
Reset my perspective on what I “need”
This is always the biggest reason for doing a spending ban. As the months wear on, I often find myself getting looser and looser with my spending. I don’t think so carefully about whether the potential purchase is worthwhile, or I start to become numb to handing over my credit card. I’m not comfortable getting too comfortable spending, so I like to rein it in.
There’s a theory known as “lifestyle creep” that suggests that as time goes on, things you previously perceived as luxuries become the new norm. You end up on a hedonic treadmill where it takes more and more money to sustain your lifestyle and make you “happy.” The bar constantly moves just a little higher.
I’ve found that a spending freeze is a very useful antidote to lifestyle creep. It short-circuits the knee-jerk “I need this” reaction that builds up over time. I always notice that my urge to buy random stuff I don’t need is very much quieted after a freeze.
Give my savings a boost
Something funny happens when you don’t spend money on things you don’t need to spend it on: you end up with a lot of money leftover. Yes, I know, it’s basically sorcery, right? :)
Whether I’m saving for a large purchase, gearing up for a big trip, or just saving for the future, it’s always satisfying to make an extra chunk of progress toward that goal all at once. This year, one of my big goals is to install new flooring in my house, and I like to think this freeze will make that happen even sooner.
Take time to manage what I do have
Have you ever thought about just how much time you spend shopping, or managing your stuff? Just this past week, I spent hours pouring over an endless sea of options for sweaters and storage bins. Hours! Besides the time I spend shopping, I spend even more time on top of that repackaging returns, listing unwanted belongings for sale, etc. It adds up.
Making a conscious choice to opt out of the shopping habit, at least for a little while, means I can step away and spend my time on other more worthy pursuits. I’m not saying all time spent shopping is time wasted, but I am saying that taking a step back to liberate yourself from that time suck can be very refreshing.
Force a little creativity
If I’m choosing not to go out to eat or go see a movie, that means I have to be a little more creative to infuse a little fun into my life. Going to the library and checking out a book doesn’t cost a thing. Instead of going out for dinner, I could spend extra time making an elaborate recipe at home or set up a dinner party with friends (or both at the same time!). I could put what I already have to good use and take a long drive to go photograph a beautiful area. Taking away the default mode of spending money to have fun means thinking a little bit outside the box.
This year’s freeze plan
This year’s rules are pretty similar to the ones I’ve followed in previous years. It’s so important to set rules in advance, because then you’re much more likely to stick to them.
Generally speaking, here’s what’s allowed during my freeze:
- All necessities: groceries, dog food, gas…
- Existing subscriptions (e.g., Spotify premium, Adobe Creative Cloud)
- Purchases for preplanned house projects
- Gifts
And this is what’s off limits:
- Eating out (including going out for coffee or drinks)
- Entertainment: movies, shows, etc.
- All other kinds of shopping: clothes, crap I find at Target, photography equipment, home decor…
Overall, my rule of thumb is that ANY time I’m about to put something in my cart or open up my wallet, I ask myself: can I go without this, or at least delay for a couple more weeks? If the answer is yes, I stop right there.
In addition to a spending freeze, I like to add on a little something extra to make the month-long challenge a little more fun. Here are two options to add some zest to your freeze.
Bonus #1: Shop Your Closet Challenge
The first one is the bonus I did last year: wear as much of my activewear collection as possible. It was a lot of fun! This challenge helped me to really focus on and appreciate what I already own. It also helped me be honest with myself on what was and wasn’t working out of my collection. Quite a few things went in the “sell” pile afterward.
If you’d like to read more about how this challenge works and how it went for me last year, you can see the posts here.
The big reason I did this challenge last year was because I felt like my collection was getting away from me. It was growing too fast and felt so unwieldy, so I wanted to take time to get re-acquainted with my favorites, new and old. This year, I feel more comfortable with my rate of growth (or lack thereof), so I’m trying a different challenge.
Bonus #2: Let Go of 28 Things in 28 Days
This bonus is what I’ll be doing this year in lieu of bonus #1.
For every day of the month, I’m going to find one thing in my home that I no longer need. I actually just did a bit of a clutter purge from my house, which will make this a little more challenging. I’ll have to dig a little bit deeper to find 28 things, but I’m up to the task. (That’s why I’m only doing 28 instead of 50 or 100.)
I’ll add that I’m going to aim for 28 substantial things, rather than “cheat” by getting rid of, say, a bunch of old socks and counting them as one each. I’m going for the spirit of the challenge here rather than trying to sneak my way to 28.
By the end of the challenge, all 28 things will be either donated, gifted, sold, or (last resort!) trashed. One caveat to this rule: if I list something to sell, that counts toward my total, even though it’s technically still in my possession. Things take time to sell, after all, so I’m ok with being a little bit patient. That said, if I put something in my “sell pile” without listing it, it does not count. I always feel better when I can stay in control of the sea of stuff. I’m excited to see what sort of progress I can make.
I’m in! I just ordered a pair of running shoes (kind of a need since I run so much and mine are at their useful life for long runs) and that’s it until the end of February! Love the idea of getting rid of 28 things as well. My house is tiny and I’ve managed to fill it with too much stuff in the two years I’ve lived there. Time to refocus!
Running shoes are definitely a worthwhile expense–you need happy feet and happy joints. :)
I’m used to moving every year or so, which is a helpful way of regularly purging the useless crap. But I’ve been in this house nearly 2.5 years now and the stuff is definitely accumulating! I try to stay on top of it but it’s definitely been creeping up…
I’m in for Frugal February. My rules are no purchases of clothes, shoes, books, lipsticks, purses, and “crap I find at Target”. Basically material things. That Kate Spade bag I have my eye on…it can wait and maybe will even be marked down by the time I can spend again. I’ll burn the candles I already own rather than cruising that aisle when I go to Target to buy cat food. Those things are wants, not needs. I truly don’t need anything so I will not buy anything.
I’m still allowed the occasional meal out or movie.
Regarding shop your closet: I have been trying this when I go on a trip. What is it about a trip that makes me think I need new stuff? I fully intended to shop my closet for a trip to New York in September. But one of the activities was going to a concert in a small club. That is so out of my ordinary that I ended up buying a top and boots (to go with a skirt I already had) for that evening. I was much more disciplined with packing for my Thanksgiving road trip. I didn’t buy anything before I left, but my birthday occurred during that trip so I ended up with some gifts from friends. I’m a work in progress, I guess.
Yes omg I have so many candles I can burn instead of buying more! About 15 of them…haha.
One of the most important things is just realizing what your triggers are, like going on trips in your case. That leads pretty directly into more mindful behavior, which is always a positive. :) Good luck on the freeze!!
I’m definitely in this time. I even wrote a note on my fridge and let my mom and hubby know my plan. I too spent time going through storage bins of clothes just this past week. I couldn’t agree more about stuff taking so much time.. it really really does (especially searching for things). This spending freeze should be like the sugar freeze, once I get farther away from the habit the cravings will lessen. I don’t even enjoy my purchases that much anymore, whatever thrill I get is fleeting and even vanishes once I get it home or wear it. I thank-you for this post because it just reaffirms what I believe! Thank you for being such a thoughtful consciencious blogger.
Yes, accountability is key! It’s so much easier to break the rules when no one knows you’re breaking them. I’ve noticed the same thing re: losing the “high” of a new purchase. That’s when I know it’s time to slow down. Good luck sticking to your plan!! :) (And thank you very much for the kind words!)
I’m down. I just made a large purchase (new Fitbit Ionic), and anything else I could possibly want is exactly that: just a want. I got a bunch of cute new stuff from Black Friday, Christmas, post-Christmas and New Year’s sales. And in fact, I was already planning to sell a lot of my old, largely unused camera gear so I could save up money to buy a new lens for the gear I use all the time.
Yes, February is always good timing after the huge influx of stuff (both purchased and gifted) over the holiday season. It’s a welcome change! I’ve been thinking of selling one of my lenses, too. I have two that are very similar, but I ALWAYS use the nicer one. Perhaps it’s time to say goodbye.
I may have to do March this year since I’ll be on vacay for half of February, but I love this tradition!
I do kind of feel like your idea of making elaborate recipes at home or hosting dinner parties instead of eating out is kinda counter-productive though (hosting a dinner party is WAY more expensive than eating a dinner out even though the cost is “groceries”)… and you better be making that special recipe with ingredients you already have on hand ;) it did make me snicker though… gotta love the loopholes (what other fun things can count as “groceries?!”) LOL.
Yeah, freezes during vacations just doesn’t really work. There are 11 other months though. :)
Luckily with dinner parties, it’s usually a group effort, so I’m not footing the bill by myself at least. ;) Also, “elaborate recipes” is rather a loose term, ahem. I’m not exactly the Barefoot freakin’ Contessa over here. The bar is low…
I’m in! Although my spending freeze is slightly different this year. Last year I did a spending freeze in Feb and August. This year my challenge is to only purchase 1 thing of (insert any item that I don’t need) a month for 2018. But I will accept your challenge to donate 28 things in February. That will definitely be hard for me.
I like your idea of 1 thing a month. That’s a pretty tough challenge to maintain that for a year! I hope you have success with both that and finding 28 things to let go of. :)
How is it time for frugal February already?! I’m definitely game for part 2 of the challenge getting rid of 28 things which I know I can do. Me and my husband recently moved apartments and I always like to declutter before a move. But alas there was so much to get rid of that by the end under time pressure I had no choice but to pack up everything including crap and move it with me. So I’m quietly confident with this challenge.
I’m also in for the no extra shopping challenge . I’ve only budgeted for a new rug and houseplants this month and just to enjoy the new space that we’ve moved into.
I love that you have these topics on your blog:) so rare and refreshing :)
I always like to declutter before moving, too, so I can imagine the stress of not having time for that. Best of luck on the challenge, it sounds like it’s a great time for it. :)
I’m definitely down to donate/get rid of 28 things. I’ve been looking to declutter for a while now since I get stressed when I feel like I have too much stuff. Just lots of little things can really add up!
As for the spending freeze, I’m game, but I may have to move it to March since I had planned on 2 purchases in February (new glasses and a pair of athletic shoes).
Absolutely, it really does add up! Good luck with your 28 things, and the freeze in March if you decide to do it. :)
I’m in
Awesome!! I hope it goes well for you! :)
I’m in for not spending on clothes, shoes, etc. I feel like my spending has gotten away from me a bit. I just ordered a stronger hoodie from eBay, and leggings from Nomads Hemp Wear. (See) I think sometimes I justify shopping by getting things half price on eBay or sales, but it’s still shopping.
I have been totally going through my closet and set aside everything I don’t really wear, it’s a big pile, and left hanging just the things I like. So maybe I’ll slowly get rid of the pile. Thanks for writing!
Taking the extra time to go through and sell things instead of buy more is always so helpful. My sell pile is so huge right now and I know I’ll feel better when I can get it shrunken down. Best of luck with yours!! :)
Ugh I had every intention of doing a no-spend month and even put it in my calendar but it’s Feb 1 and I bought a cute outfit for my kid lol. It was only $12 so I justified it by taking it out of my food budget but man, I lack self control. I’ve never done a no-spend month before and clearly I suck at it. I figured I could just take it to March 2 though? I wish there was a support group somewhere lol.
Just like with anything, it takes practice! Habits don’t disappear overnight, but making a conscious effort to be more mindful will always lead to progress. :) I hope you start feeling better about your progress soon! Best of luck. :)