Can you believe the 31 day freeze is over? I know some of you have already told me you are going for another month and I think that’s awesome.
We had a possible $200 from our basic living expenses to put back into our goal fund. Those dollars were kept separate from my purse, where they would have normally gone. Those budgets were: eating out, misc., hygeine, and blow money. The clothing fund also came out of my purse, but we can’t put those saved dollars into our goal fund. They need to be saved for future needs that we know are coming.
We had a few expenses and mistakes which left us $173 from money that normally disappears throughout the month.
I was gifted $200 from 2 separate places for Christmas/End of year bonuses that I decided to donate to the goal fund.
I also earned an extra $400 selling items on craigslist and online.
So the Spending Freeze found $773 for our project! Guys, this is huge for us. This means we can move the door, do the drywall, and basically create a finished bedroom to sleep in. The bathroom won’t be done yet, but still I had doubts that this much was even possible.
I’d love to hear how your spending freeze turned out–good or bad. Nobody can do this perfectly but even a little push in the right direction is awesome!
While we did not “save” any money this month, we learned new skills. These skills will help us save again later, since they were to work on vehicles. My hubby was also able to earn an extra $90, thanks to almost 2 feet of snow that fell and the fact that we have an atv with a plow! That money will go toward the grocery budget, since to help pay for truck parts I gave up over half of my grocery budget! My pantry may be bare, but we didn’t starve. 😉 I will not be continuing the spending freeze next month, but I may do it again in March!
Wow! I’m impressed that you gave up half your grocery budget. Everyone survived without starving and you made it through without incurring debt! Hear that? It’s a standing ovation.
My freeze went pretty well. I finally, finally, finally finished baby step 1 and saved my $1000. At the beginning of the freeze, I only had $400, so I added $600 to that! Now, it’s on to baby step 2, pay down debt. I paid $75 extra on a credit card during the freeze. I’ll be working toward paying that down as fast as possible now. I didn’t do as well as I hoped selling things on Craig’s List and Facebook groups. Most of the extra money came from Christmas money from my parents and a reimbursement check from a medical bill. Without the freeze, I probably would have spent that money on groceries or clothes. Thank you for taking us with you on this journey step by step.
Meredith, that is huge! I bet that feels awesome to have baby step 1 down. I’m excited to hear your debt free story after you attack that debt with a vengance. I think there might be an art to Craigslist, lol. I don’t have it down yet, but it does help to renew the listing every 2 days (I think that’s as often as CL allows it.)
This spending freeze was a lot harder for me than I thought it would be but I’m so happy I did it. I’ve learned to set goals, to prioritize, to identify what triggers unnecessary spending, learn from money mistakes, and to really think about my purchases prior to spending money.
I plan on continuing this freeze during the month of February and implementing what I’ve learned on the Grocery Shrink blog.
Yay Yolanda! It was harder for me than I thought it would be too. But we both made progress!
I am amazed to have stuck to the rules I set for the month. While I don’t see cash in hand like you have, I know in Feb and March I will see benefits! I do however need to make a necessity shopping trip as tp and hand soap are essentials that are very low and do need replacing!
Yes, Karla. You are moving forward and spending/saving on purpose.
GREAT JOB!
Thanks, Stacy! That means a lot coming from you 🙂
please share how you sold your fabric stash. I could make a lot of money selling mine!
Kathy, I have a lot more to sell, lol. First I straightened off any wonky edges and measured each piece and folded everything to be the same size (to fit a medium flat rate shipping box.) And marked everything by yardage and price per piece. Our first stop was to get a booth at a craft show and have a table there. My mom and I split it and it cost us $10 each. It was a very slow show, but the other people that had booths were crafty and liked to sew and purchased a lot. Then I listed some of the leftovers on the group, “Fabric Destashing for People who Aren’t Cray Cray.” This was not as easy to coordinate as the craft show, but I got rid of some. I’m thinking next, I should have a fabric swap meet at my house. And invite a lot of people to come sell their stuff too. We could advertise within safe circles. I’m waiting for a less busy time, but several people I’ve spoken to are interested.
So, I have a question! Now that the spending freeze is over and I gave up half of my grocery budget (see first comment), my pantry is bare. This is my week to do a big trip to the grocery store, last week was just a milk and eggs and veggies kind of trip. My home canned goods are down to pickles and applebutter. :p I am use to having lots of home canned goods to offset the small grocery budget ($200/mo) I have for our family of 5. While we love pickles and applebutter, I can’t make those 2 things the basis of my meals. I do still have some frozen veggies, but all of my canned beans, meat, tomato products, apple sauce, etc. is gone. How do I replenish my pantry? ANY tips would be helpful!
Rebecca, The way I see it you only have a few options. Buy the minimum this month and eat like a college student–cans of tuna, ramen noodles, mac and cheese, baked potatoes. Then supplement with fresh carrots, apples, bananas, lettuce and the produce that goes on sale for $1 a pound (or so.) Bake your own bread and just get through it. Eventually though, you will need to restock that pantry. Look for the loss leader canned goods. Green Beans and Corn for $.49 a can; Marinara sauce for $.69 a can; Frozen veggies for $.69-.79 a lb. Etc. If you are paying higher prices, only buy the exact amount you need for your recipe. When you find a loss leader item, buy enough to restock your pantry (or as much as they will allow.) It takes some cash to do it though. Is there any way you can earn more money (babysitting, cleaning houses, teaching classes, selling stuff) to recover from the truck repair?