Last month, on my other blog, I talked about how I wanted 2011 to be a year of conscious spending.
I wanted 2011 to be the year that I stopped casual online spending. The year that I stopped falling for temptation at the shops. The year that I plan and save for every purchase. 100%. No failures.
Every purchase has to be a need, not a want. There is a big difference between the two.
I still have a spending cycle that goes something like this: buy/use for a month/sell. It's endless. I buy an item and after a short while it starts to feel like clutter and so I sell it on. Admittedly this is nothing like it used to be when I was an over spender, but the cycle is still there, just on a much smaller scale.
I hate clutter and I hate waste. Yet I'm [still] contributing to it.
It's a hefty goal to set. But one that I don't want to fail.
I'm starting off small with a no spend January*. If I'm successful then I'm probably going to do a no spend February too. Who knows I might even carry it on after that.
*If you were going to pick a time to stop spending for a month then January is probably about the best one to pick; you're motivated by the New Year and your goals or perhaps you regret what you spent at Christmas and just want to cut back. Anything like this will help you to stick to the challenge.
Are you setting any no spending challenges for yourself this year?
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I'm currently in a "year of spending consciously and have really cut back bigtime. My only online downfall is iTunes. I got a $25 gift card for Christmas but spent almost $60!! The reason for that is I want to get the entire Beatles song collection onto my ipod. I guess the good news is that i stopped after buying 4 albums - it could've been a lot worse!
ReplyDeleteI'll be doing a couple of things.
ReplyDeleteI've just finished 3 weeks of not spending - from mid-December until the start of this week. I didn't manage to be completely spend-free (broken boiler, sick dog, a few social commitments) but I cut down on my "optional" spending by a lot - and it's inspired me to keep a record of all the money I do spend in 2011. I'll also have no spend months throughout the year when I have different temptations etc.
I'm also limiting myself to buying no more than 12 items of clothing in 2011 -- I probably didn't buy more than 20 things in 2010 so it won't be *too* hard, but like you, it's about conscious spending, to save and plan rather than doing things on an impulse.
I'm looking forward to seeing how these plans work out!
Hi yes I am trying not to spend too much!. So far I have bought a bed but selling old one to fund new one and other bits on ebay. Fingers crossed it covers it!
ReplyDeleteAlso bought a 2 x fish pedicures!. I find sometimes I can be good on a daily basis. But sometimes I feel even though I want to be frugal and MSE! I still want to have a wee bit of fun! its getting the balance so I dont feel deprived !
Good luck. I know exactly what you mean in that post x
Jane: I don't have an ipod, although every time I go walking, I wish I did! The Beatles did 300+ songs (I just looked it up) it's going to cost you a fortune, lol :)
ReplyDeleteLouisa: I only count non budget/misc spending as spending. So boiler repairs don't count :)
ReplyDeleteGood luck on your clothing challenge..I'm ok at not buying clothes or I would join you.
Now if I can buy less than 12 books and DVD's this year, I'll be happy.
Changing One Day at a Time: Finding balance is the really hard thing but I know that I get more enjoyment from spending on an experiance, than an object. I'm happy to spend money on a social occasion with friends, however it's the clutter buying that I really want to stop.
ReplyDeletePS. Thank you for introducing me to fish pedicures...who knew there was such a thing! :)
Laura, it sounds like a great goal. I can't wait to read your updates. By the way, do you mind me asking what part of the UK you live in? I have family in Surrey and Kent and love to visit there. Sadly, it has been too many years....
ReplyDeleteJane, I bet you could get most of the Beatles songs by getting CDs from the library or borrowing CDs from friends so hopefully you won't have to buy them all.
Budget Confidential: I don't mind you asking at all. I live in the Midlands, near to Nottingham.....a little further north than your family :)
ReplyDeleteI definintely think that January is the *BEST* month to do a 'no spend' month!! We're cutting back this year as i've really upped my savings goals, so the rest of our budget dropped! One thing i'm doing is *NO CLOTHES* shopping for myself for the entire year, and a maximum of 1 item per month for the rest of my family. So that's 12 items in total for the entire year!
ReplyDeleteGood luck this month!! :)
Halfdozendaily: It's great that you have the whole family on board with the 12 items in 2011!
ReplyDeleteGood luck :)
I am also having a spend consciously year, this will involve buying nothing new in the clothing dept. although I have allowed myself an out, I can buy second hand. and no big ticket items at all, however if my laptop breaks down I will have to rethink that one.
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