It’s so tempting to fall into bad spending patterns and waste money on things you don’t really need. From your daily cup of coffee to takeout and impulsive buys on Amazon, it’s easy to spend hundreds or even thousands of dollars more than you’d like to on a regular basis.
A “no-spend” period, or a spending freeze, is becoming more popular among people who want to take stock of their spending habits and save more of their hard-earned cash. Whether you’d like to stop spending for a day, week, or even a month, a spending freeze will take a little planning.
But it could help you shed your impulsive patterns and find new, creative ways to save money in the long run.
When you stop spending out of necessity, you’ll have to make do with what you already have or what’s available for free. For example, you might find that you can whip up more meals with what you already have in your kitchen than you think.
Or, instead of buying a new book on Kindle, you can borrow books from the library in your town or from the free eBook Kindle library on Amazon.
And instead of purchasing new clothes, you could grab some for free (and give away some of your old or unwanted clothing) at a trade swap in your area. Maybe, after the spending freeze is over, you just might use some of these tactics to save more money overall.
After your spending freeze is over, take stock of what you didn’t miss as much as you thought you might. Maybe you didn’t mind making your cup of coffee at home, or really didn’t need those 1-Click Purchases from Amazon after all.
Maybe reading at the park or chatting with your family turned out to be just as entertaining as that movie you could have rented. Think about the spending habits you could learn to drop, and what habits you could pick up to save more.