My Spending Hiatus So Far

Today's guest blogger, Jenny Newcomer, is the creator of LobotoME {eco-friendly organizational products}

I first learned of the concept of a spending hiatus via the blog Simple Lovely.  She went on a self-imposed 3-month spending hiatus earlier this year. Some of her readers joined in, many watched and waited to see what she had learned in the process. After she wrapped hers up, another set of bloggers spear-headed by Aimee of the blog Mostly Mod began a "remainder of the year" spending hiatus -- 8 months long! Some chose to have a "No Spend Weekend" or a "No Spend Month", only paying for housing, utilities, food & gas for a shorter time frame.

I joined in, but made a few exceptions -- some travel, some unfinished house & landscaping related expenses, birthday & holiday gifts (that aren't homemade), and I vowed not to by any "un-necessary" items. If I found we did need something (eg. Sam new sneakers), to try a thrift store first. I am 4 months into it and have been doing really well, for the most part.

There have been a few slip-ups but I have attempted to gracefully acknowledge them and move on. But it hasn't been easy. There is great temptation out there in the world. I quickly learned to avoid my personal spending triggers (eg. Anthropologie & Target in my case) and I started using cash for everything from groceries to our misc. family fun category each month. Not using the credit card greatly reined in unplanned purchases. And I constantly remind myself that I would rather spend time on the beach in Mexico than have a new cute dress or new pair of shoes. Additionally, by spending less and saving more, we have paid off one car loan and my almost all of graduate school loans (over $20,000 total paid off thus far this year) and created a 6-month emergency fund.

So for me, my spending hiatus is about spending SMART. It isn't about deprivation. This is about plugging my leaks of wasteful spending and using our money for specific purposes, rather than by habit or accident. We are attempting to save money by spending only on things that we really care about and plan to buy for a specific purpose. The bottom line with this spending hiatus for me is to spend less money on things I don't care much about so I can spend on things I do care about (eg. traveling). We want to spend our discretionary money on doing rather than owning. Because in the end, positive & fun life experiences contribute to happiness more than things do.

You can read more about my spending hiatus journey on my blog - spending hiatus updates are posted every Friday.

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Join Me for a Week
In honor of Jenny and her efforts, I (Amanda, DW founder) am freezing my spending for the week of October 5th. Who's with me? Leave a comment below and join the fun. We'll use the comment area below to track our progress. Truthfully, I'm not excited about it as I love spending money. But I know a conscious break will be good for me.

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