The September Spending Freeze: Lessons Learned

{via pinterest}

It's been a month and a half since the end of my September Spending Freeze.  My month of "no spending" came and went, and since that last day in September, I haven't talked too much about what I gained from the Freeze.  However, I haven't forgotten the Freeze, or the lessons I learned along the way.  In fact, it's quite the opposite.  I've been doing a lot of thinking, some of which was prompted by a friend's question of "So now that September is over, are you just going to go back to spending like you used to?"  My initial answer, "Of course not," was soon followed with some self-reflection about what would change following my month of no spending.  I realized I needed to redefine my spending style, nailing down what needs continued attention and effort when it comes to spending.  So here are the highlights of my Freeze, as well as the biggest lessons learned along the way.

1. I spend entirely too much on clothes. This is without a doubt, the biggest and most uncessary source of spending in my life.  I won't act totally surprised, I knew I was shopping a bit more than I should have been, but when I crunched the numbers and saw just how much I was spending, I was astonished.  It was literally sickening to see how much I was spending on clothes and accessories.  I wish I could pretend it was a top here, a dress there, and a cute scarf every now and then.  But it wasn't.  It was out of control.  This part of my spending absolutely has to change.  I cannot claim to be a responsible adult and continue to spend so much of our income on clothes.  I can't, and I won't.

2. I don't wear the things I love nearly enough. One day in September, I wore one of my very favorite things to work (hint: this orange sweater.)  By 10:00 am, I'd gotten more than a handful of comments about the sweater and how great it looked, followed by a comment from one of my coworkers, "Is that new?"  "Nope," I replied.  "I've had it for a while."  The minute the words left my lips, I realized something.  This is one of my very favorite things from my closet, yet I've worn it one time in six weeks (and still haven't worn it since).  How is that possible?  I realized it's because I have a lot that I love hanging in my closet, so much so that I only wear it once or twice a season.  And I realized how insane this was.  Why buy another gold statement necklace when I don't wear the three I have nearly enough?  Why look for a second leopard button up when I've only worn the one I love twice this fall?  Somewhere along the way, we've gotten the message that new is better, and it's simply not true.  I need to wear what I love and if that's not happening, then I need to get real with myself and realize it's because I have entirely too much.

3. $5 lattes are insane. This lesson isn't a shocker, and I'm betting most of you learned this long ago.  I did too, really, but I pushed it aside, trying to convince myself it was okay.  It's not, not for me anyway.  I'm sitting on a giant pile of Ph.D student debt, and its insane to be shelling out $25 a week on coffee.  (Sidenote, that's $100 a month; $1200 a year.  On coffee!)  That is just crazy, crazy, crazy, and I can't do it.  I've left myself a little bit of room by allowing Starbucks when we travel and some Monday mornings when I make the two hour commute back from Chicago, but that's pretty much it.  Until my next trip, goodbye grande soy sugar-free caramel latte.

4. Preparing for the grocery store and being a bit more flexible can save me a lot. I've mentioned my awe for the extreme couponers before.  Getting all those goodies for close to free, who wouldn't be impressed?  And while I don't take near as an extreme approach, I have learned the value of grocery deals and steals as well as how to shop with an eagle eye.  Since we don't get a Sunday paper, I skip on clipping coupons, and instead use the online program offered by Dominicks.  By using a combination of their digital coupons, personalized offers, and deal matches, Matt and I have been able to save 25-50% on our grocery visits.  Not bad for an extra 30 minutes of prep work before a trip to the store and some extra diligence while shopping the aisles.

5. Accountability is key. The dedicated work out people and the bible study regulars have known the value of this lesson for a long time, so I'm clearly a slowpoke for just now catching on.  It's true; having people know your goals helps you stick to them.  Plain and simple.  When I wanted to cheat, I thought about this blog and the people who knew about my challenge.  That snapped me back real quick.  Enlist the support of people close to you: friends, family, coworkers, etc.  You'll be surprised how much it helps.

6. The ordinary can become extraordinary with just a few details. The no dining out rule was a bit challenging for us, especially living in such a fun foodie city.  I like the experience of dining out, the atmosphere, the music, the fun cocktails, the ability to try new things.  And while these are all fabulous at restaurants, they're also fabulous at home.  A Sunday lunch at home is suddenly spruced up when you pack it in a basket and take it across the street to the park,  An easy at home pasta is a bit more fancy with candlesticks and a bottle of wine (even if it is 2 buck Chuck.)  We've got the ability to make things more special; it just takes a bit more tweaking.  Read more about the power of recreating here.

7. Wanting something does not mean I need something. Nor does it mean I deserve it.  I had this little ephinany halfway through the freeze, and its one of the most powerful things to come out of my spending freeze.  There is a big difference between my wants and needs.  I have to remind myself of this on a weekly basis, and whenever I'm feeling particularly entitled, I reread this.  Major lightbulb moment for me.

Now let me be clear that in no way am I all of a sudden a spending expert.  Even with these lessons, I still find myself wandering into stores, tempted beyond belief.  And while I've gotten better at handling that temptation, I'm not perfect.  Since the Freeze, I've purchased 4 articles of clothing, and though I tried to reason myself out of buying those pieces, I didn't quite succeed.  But I'm getting better, one temptation at a time.  Each time I say no to myself, to Starbucks, to my online email offers, I can feel myself getting a little a bit stronger.  Another thing that's gotten stronger?  Our bank account.  The freeze and the lessons learned have drastically changed our spending and in turn, our bank account.  We're still sitting on a big old pile of Ph.D debt, and that will take us years to work through.  But we're plugging away, doing much better than before.  And that would not have happened without the Freeze.  If you are at all wanting to take a look at or revamp your spending style, I highly suggest doing a spending freeze.  I promise, if you stick with it, it will change how you spend and how you see your bank account.

So for those of you who participated in the Freeze, what did you learn?  And for those of you who didn't, do you think you would learn anything from a month of essential only spending?

SSF: The Power of Recreating

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I'm a few days out from the end of the freeze, and I've been spending a lot of time thinking about what the whole "no spending" thing has taught me.  I think I'll take a good part of October to continue talking about my freeze lessons as well as talking more in detail about some of the things that have helped me survive.  From week one, the biggest thing that's helped me survive is taking a serious look at the things I love to do (and spend money on) and figuring out ways I can recreate a similar experience at home.

Eating out with friends has been one of the biggest sources of spending for Matt and I over the past year.  Chicago is really known for being a foodie city, so during our first year here, we seemed to justify every restaurant stop as part of "experiencing Chicago."  But then we found out we were staying in Chicago long-term and our spending should of changed.  But it didn't.  We continued to eat out with friends several times a week, some days just grabbing drinks and appetizers and other days splurging on hip hot spots.  But at the end of August, we took a good look at our American Express bill and realized just how much we were overindulging.

So the freeze started, and I was forced to give up eating out.  But I found myself trying to be creative about ways I could still get the "experience" without having to eat out and spend money.  I began asking myself what I enjoyed most about grabbing dinner and drinks with friends.  And surprisingly, it wasn't usually about the food.  It was about getting together, with people we love, and having a good time.  We started inviting people over more, cooking for friends on the weekend, having them bring a bottle of wine or a few favorite local beers.  When we craved patio dates with fun cocktails, we'd dust off our patio chairs, blast some fun tunes, and sit outside with the grill going.  When we craved wine nights, we'd hold off on the downtown wine bars and instead hit up Trader Joe's for a few of our favorite cheese and jams, spread them out on our cutting board and open a bottle of wine.  Same feel, same type of food, much different price.

So my advice is to think about the things that you love doing and how you can recreate them at home or on your own for a much cheaper price.  Maybe its a dinner party, maybe its a backyard barbeque for two.  Or maybe its as simple as buying a flavored creamer to create a home version of your favorite Starbucks drink.  Whatever it is, find a way to recreate it, and watch your wallet grow.

Don't Go All Rebecca Bloomwood on Me

With just a week and a half left in the freeze, I'm starting to feel the itch.  The itch to buy that one fall knit, that one new nail polish, or that one new pair of boots.  I'm working hard to convert these feelings, not just for this week, but for good.  I don't want to the freeze to be a fad financial diet where I restrict and then go crazy after a few weeks on the diet.  I want the freeze to be a lifestyle change.  And because I'm determined not to have October 1st look like this...

SSF: Needs Vs. Wants

{via pinterest}

I started this spending freeze to give my bank account a chance to recuperate, and I hoped that maybe, along the way, I'd learn a thing or two about the way I spend.  I'm two weeks into the freeze, and I'm already starting to do some heavy reflecting.  I'm learning a lot about the who, what, when, where, and why of my spending.  This freeze has got my brain wheels turning, and regardless of how much I save this month, I'm grateful for the amount of time its forced me to reflect on my spending.  "Forced" may seem like a strong word, but it's true.  Not buying, not going out, not aquiring...it really does leave me with a lot of time to notice what's different.

One of the biggest thoughts that has been resurfacing in my mind the past week is about needs versus wants.  Needs are non-negotiables.  You can't live without them; you gotta spend for them.  Wants are obviously the extras, the icing on the cake, the things I should buy in small doses.  Needs and wants...they're very different, yet somewhere along the way, I've gotten them terribly confused.  And what's worse, is that even when I can identity something as a "want," I still find myself traipsing to the store to snag what I've been coveting.  Somewhere along the way, I got entilted, thinking, "If I want it, I should get it.  Even more shameful, somewhere along the way, I started thinking, "I deserve it, I'm gonna get it."

Even though I'm on this spending freeze, I still find myself creating an "I want" list.  A fuchsia blazer, a pair of mustard pants, and a pair of perfect black flats.  A rust colored chunky knit, an emerald silk blouse, and a hot pink statement necklace.  I think these things would be perfect additions to round out my fall closet.  But you know what?  I don't need them, I won't go naked without them, and I won't even be un-fashionable without them.  Do I want them?  Yes.  But since when did wanting something give me the go ahead to whip out my American Express and make it mine?  When did wanting something turn into buying something, no matter what my brain or my bank account told me?

I wish I could peg down where this blur between needs and wants happened.  I wish I could identify the spot where things went awry.  I have a few hypotheses, but none seem to stick quite as they should.  Before the freeze, I think I would have looked back and thought "Ehh I should probably do better about this."  But something about the freeze has magnified this issue in a major way for me.  I'm not just thinking back to my old ways, I'm thinking back and realizing how ashamed I am.  Ashamed that I wasn't more thoughtful and ashamed that I've watched Matt and I's money drain away because I wanted the perfect polka dot scarf or the perfect fitted blazer.  Those things weren't needs, those were wants.  And I let myself believe they had to be mine.

Though I'm embarrassed by my blurred spending, I'm also incredibly inspired.  Inspired because I see the error of my ways and realize just how backwards my thinking was.  Inspired because I know better now and can choose something different.  I'm inspired because I am choosing something different.

So for all you readers out there, how do you handle needs vs. wants?  What trips  you up?

SSF: Triggers

{via pinterest}

I'm a week into the September Spending Freeze, and I have to be honest, its been surprisingly easier than I expected.  Don't get me wrong, it hasn't been easy, but easier than I expected.  So a week into it, I've noticed two very specific things.

1. Holding myself to no spending is much easier than holding myself to reduced spending.  I am apparently a five year old who can't grasp the concept of moderation.

2. Some things have been easy to give up, but others call my name at the grocery store, haunt me in my dreams, and plead to be purchased.  My Freeze kryponite, or what I now maturally refer to as my "spending triggers."

I've probably always been aware of these spending triggers, but the spending freeze has called them to center stage.  When the items used to call out to me, I'd try to resist, but after a few seconds, I'd quickly give in.  But now that I can't give in, I'm forced to endure a longer period of "But you need me!  I'm fabulous, flawless, and will make all your dreams come true!"  Triggers are the things that seem to trip me up the most often and the easiest.  So after a week on the Freeze, here are my top 5 spending triggers.

1. Nail polish.  I don't know what it is about those small glass bottles, but lately I've noticed my insane weakness for them.  I see all those candy colors and go weak in the knees.  I feel the need to own every single shade of pink and every hot color for the season.

2. Mid-afternoon coffee.  Its 2:00 pm and I've had back to back meetings and committments all day.  I was up late and got up early to Jazzercise.  I have four more hours of work, and I can't keep my eyes open.  And there's an Einstein's across the steet.  Temptation hell.

3. Black leggings.  I don't know what it is about these stretchy lovelies, but I buy them like they're going out of style.  This habit started when we moved to Chicago and has gotten a little out of control.  My legging radar is elegantly honed, and it pains me to hear it beep as a I walk away.

4. VS Pink tees.  To go with my black leggings of course.  While I try to avoid pants with words scrawled across my backside, I can't stay away from their tees.  They're the perfect sheerness, perfect length, perfect deep V, and perfect sleeve length.  (I loathe cap sleeves.)  After the big sorority shirt cleanout of 2009, I've been rebuilding my loungewear collection, and these tees are easy to buy in bulk.  I love them.

5. Its Friday, I just got home, there's nothing for dinner, and I'm starving.  Every bone is body is thinking, "Just go out...it'll take too long to cook...wouldn't a dinner out be way more fun."  Enter the moment where I throw my keys across the room in an attempt to keep myself from hopping in my car and zooming to one of our favorite dinner spots.

"But why even talk about triggers?" you may ask.  My thought is that if we're to succeed, we need to be aware of what trips us up.  We've all heard the phrase "the first step is admitting you have a problem."  I've done that by taking this challenge.  I have a spending problem.  The second step for me is getting specific about where my sticky spots are and where I get tripped up the most often and the easiest.  Knowing my triggers.  Word.

I'm going to revisit these triggers, as well as other hurdles I'm experiencing over the next month and give some insight/helpful hints into how I'm dealing with them.  You didn't think I'd just list my problems and leave you fend for your own solutions did you? :)

So whether you're participating in the Freeze or not, I've got to ask, what are your spending triggers?

SSF: My Rules

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Happy September 1st yall!  Now I don't normally get so pumped up for the beginning of September, but today is different.  Today is the official kickoff for The September Spending Freeze, my attempt to get a grip on my insane spending problem.  I am pumped to get started and even more pumped because so many people have decided to join me.  So as we kickoff this exciting event, I thought I'd get it started by laying out my rules for this challenge.  I tried to get pretty specific, leaving myself as few loopholes as possible.  (Loopholes are my crazy attempts to justify things I shouldn't be doing. Loopholes are bad, bad, bad.)  So without further ado, here are my rules for The September Spending Freeze.

1. No clothes. At all.  No tops, no jeans, no skirts, no blazers.  No boots, no sandals, no tennies, no heels.  No workout clothes, no scarves, no headbands, no jewelry.  No new clothes; no exceptions.  (This is where I stuggle the most, so I've got to be firm with myself!)

2. No eating out. No Friday night out dinner dates, no impromptu lunches, no quick coffee runs.  No Starbucks, no Sonic cokes, no cocktails out with my coworkers.  If I'm gonna eat, I better be eating at home or bringing it from home.  And if I planned poorly and didn't bring food, I'll have to deal with whats shoved in the back of my desk.  (Um, hello peanut butter crackers.)

3. No new beauty products. During the month of September, I'm working with what I have.  No new nail colors, new perfumes, or new mascaras.  No Sephora ordering, no drugstore.com surfing.  Nothing new goes into my makeup bag, medicine cabinet or overflow beauty drawer.

4. No extra entertainment. For now, trips to the movies are on hold.  Weekends exploring Chicago sights are off (unless they're free!)  We're going to make do with what we have and entertain ourselves with the 3,000 DVDs in our cabinet, the stash of board games we've collected, or the free park outside our apartment.

5. No pampering. For the next month, its straight up DIY with my beauty routine.  At home mani/pedis, self-maintained brows, and dealing with split ends if they happen.

Exceptions: Now of course, there are a few exceptions to this list, but I'm pretty proud of myself, because there aren't many.  (Loopholes be gone!)

a. In two weekends, my friend Christie will be in Chicago for a night, before prancing off to Italy for a year.  We will most likely meet for dinner/drinks.  She has to see a lot people in one night, and I'm not going to be difficult by imposing my freeze on the group.

b. Matt's brother is getting married in NYC on September 17, meaning we'll have to spring for a few meals on trips.  Matt and I will eat light and share meals, but I'm not packing 9 pb&j sandwiches for the weekend.  I'd rather not spur a new TLC show idea...Travel PB&J Hoarders.

c. I am this close to setting a date for my dissertation defense.  (Praise Jesus!)  This means I'll have to book a trip back to Texas sometime this month.  Unavoidable and frankly thrilling.

And that my friends, is it!  1 big rule (no spending!), 5 areas of focus, 3 small exceptions.  (You guys have to give me props...those exceptions are legit.)  I will continue to buy groceries as normal and continue with my workout membership.  I don't believe in all of a sudden eating totally cheap and crappy food, then paying that money back later in gym fees and doctors bills.

So now that you've heard my freeze rules, I want to introduce the other 15 brave souls taking on this challenge.  Some folks have blogs, some don't, but I've linked to those who provided me with blog addresses.  For those without blogs, feel free to leave your rules in the comment section or on my FB page so we can check out your freeze plan.

Kenda at On My Mission 4 Fitness
Kindra at Keeping Up with Kindra
Kayla at Lala in the Land of Enchantment
Shelby at T and S Lovenest
Jamie at The News from LaFuze
Nikki at Me 2 We
Lydia at Boy Howdy Daily
Lindsay at Life as Lindsay
Heather (who has one exception for work clothes)
Deviled Megs
Glitterista
Makenna (whose FB page I will stalk for updates!)
Allie at More Moores
Kristin (who is allowing a fall boot cheat)
Lesley (one of the most fashionable girls I know!)

So with that...we're off!  We're officially frozen and on our way to having a better idea of where the heck our money goes each month.  I'll continue to post regular posts throughout this challenge, sprinkling in freeze stuff as the months goes along (and of course on Thursdays.)  Have a fabulous day, and to those of you who are braving this freeze, kudos to you!

48 Hours Till the Freeze

{image by Kendall Stoy}

We're two days away from the start of The September Freeze, and as crazy as it sounds, I'm kind of excited!  Sure, the no-spending thing will be hard, but I'm looking forward to challenging myself and getting a better handle on my spending.  So far, 20 brave souls have agreed to take on the challenge, and I can't wait to see how each of us makes the challenge unique for our own lives.  If you're participating and you haven't commented or emailed me that "you're in" make sure to do so, asap.  Thursday, I will be posting a master list of participants with links to blogs so everyone can check in on you and your journey.  And if you are still on the fence about the challenge, I say go for it!  Dive in, take a risk, and learn something new about yourself and the way you spend.  Its only 30 days...how bad can it be? :)

And for those of you who are participating, Thursdays are our days to officially post and check in with one another.  I will likely post more often about my progress/tips/tricks/etc, but I think a once a week post is imperitive for reflecting and really engaging around this challenge.  When you post, feel free to use The September Spending Freeze image (posted above) and link back to my blog so people can see a list of all the participants.  This Thursday, I encourage everyone to post their rules for their challenge, remembering its all about making your own rules and making this challenge work for you!

So the official kickoff is less than 48 hours away.  Bring it.

The September Spending Freeze

Next Thursday, I am thrilled to be starting a new adventure here on Smart and Sassy with Sprinkles.  An adventure that I'm nervous about, slightly dreading, but also pretty excited for.  Next Thursday, I'm starting The September Spending Freeze, a month long freeze on everything but non-neccessity items.  The freeze will likely be a bit painful, but its beyond necessary, and now that I've made up my mind to take on the challenge, I'm ready for it!

So why start The September Spending Freeze?  It's a combination of reasons really.  The first is that Matt and I really have to get serious about saving.  We're starting to focus on the future more, wanting to save for a house, and build up a healthy "in case of emergency fund."  And lets not forget, we didn't get these Ph.D's for free.  So thats one reason.  The other reason is that we're failing miserably at sticking to our budget.  Last month, after careful planning and serious promises, we blew past our budget.  And not by a little bit, by a lotta bit.  (Too lotta bit to even share.)  And almost every penny that we blew past fell in one of three catagories: clothes, eating out, or entertainment.  While I like to pretend that I don't shop often, the people at Amex don't lie.  I saw that paper and couldn't find a place to hide fast enough.

So rather than endure another month of "I'll cut back, I'll do better, I promise," I'm finally fed up enough to go all extreme.  No spending on non-necessity items. At all.  Not ten dollars a week, not a latte here and there, zip, zilch, nada.  A total freeze on buying nonesstentials.

I threw this idea out on my Facebook page earlier this week, and several of you had something to say.  A few said no way, some sent prayers (Melissa, you know me too well), and surprisingly, several of you said you'd be game to join in, woo hoo!

Now let me be clear, The September Spending Freeze is a personal choice.  And with that, comes personal options.  While I'm choosing to apply the freeze to all non-essential items, maybe that's not  quite for you.  Maybe you want to focus on freezing your clothes spending, your eating out, or your beauty buys.  Maybe you just want to kick your habit of Starbucks.  Whatever and however you choose to do, it is totally up to you.  I've already had several questions about whether or not a few "cheats" can be allowed.  And to that I remind you, this is about making your own rules.  If you're still on the hunt for the perfect fall boots, write that in your rules.  If you've got a weekend getaway planned, and you want that weekend to be off-limits, go for it.  This is your September Spending Freeze, you can play it however you like.

So I encourage you to give it a thought.  Whether you're purposely trying to cut back, saving for a special vacation, or just trying to become more aware of your spending, The September Spending Freeze is a great way to get started.  And please, for no other reason, think about joining, so I'm not suffering, err, I mean discovering alone :)

The Freeze starts next Thursday, September 1, and if you want to join me, in any capacity by your rules or mine, shoot me an email.  I'm going to create a master list of Freeze participants.  (Even if that list is me, myself, and I.)  Every Thursday, I'll have a September Spending Freeze themed post, and I'll post the topic ahead of time, so you can join in.  But again, this challenge is about your own rules, so if you don't want to join in on the Thursday posts, no sweat.

Next Thursday's post will be titled "The September Spending Freeze: My Rules, My Way." This is your chance to dictate the rules for your challenge.  What's off limits, what are your cheats (if you have any), and what are the specifics of your freeze.

So that's the challenge if you choose to accept it.  A spending freeze for the entire month of September.  Who's with me? :)

PS: a MAJOR thanks and shout out to my friend Kendall Stoy for creating the fabulous September Spending Freeze logo featured above!