Once again, my readers are keeping me honest. Earlier this week I came up with three very good reasons why I should not go on a spending moratorium, but you all rejected my pleas and voted overwhelmingly to put myself through this wacky experiment.
As of Friday morning there were 112 votes. About 45 percent want me to go on a spending moratorium, 27 percent say it’s silly, and 13 percent (15 readers) agreed to go on the spending moratorium with me!
It’s nice to know I’ll have company. 🙂
Three readers in particular encouraged me to take the plunge.
Katie said:
I challenge you to go on a complete spending moratorium! Don’t buy ANYTHING (except phone, utilities, rent) for 30 days. See how long you can live off of the groceries you already have on hand. You will be surprised. Be extra careful about how much electricity & gas you use–unplug appliances, play a game instead of watching TV or read a book, don’t leave the light on when not in the room, etc.
Kristin at makingcentsoutoflife.blogspot.com said:
I think that if your hubby is willing, you should do it jointly if you are going to do it at all. Kind of like a diet, it’s easier with support. I think it’s a very worthwhile experiment that anyone who does it will benefit from because it will save you a ton of money as well as force you to be content with things you already have. By not spending, you focus your efforts on other parts of your life and can make those things better. Heck, if I could stay out of Walgreens I might get more done.
Sarah said:
I’m doing this in June. It’s a really interesting experience. I’m still buying food, gas, and other things I consider necessities (like a new filter for my PUR–though I stretched the old one farther than I thought possible). I’m also have a budget plan but this really is making me consider and evaluate every single purchase. What’s fun is how other people respond: I’ve had more offers to buy me lunch than ever before!
So here are the ground rules for my spending moratorium.
Allowed purchases include rent, one tank of gas, groceries, utilities, my Internet and cell phone bill. My automatic monthly savings withdrawal remains unchanged.
Business expenses, such as flyers or postage, are allowed.
During the moratorium I’m allowed to use any gift cards I have currently have in my possession (either previously purchased or received as gifts).
I’m allowed to receive gifts as long as they are a true gift and not a way around the moratorium. (This is a gray area I’ll try to define later.)
The 15 readers who voted to go on the moratorium with me should send me an update about how they are doing at least once a week. Don’t think you can get away with not participating just because, ahem, I have no idea who you are! Participating readers, let me know if you are using my ground rules or setting your own (and what they are). I’ll regularly write about what we are struggling with, our creative solutions, and lessons learned on BargainBabe.com.
The moratorium starts July 1 and ends July 31, 2009.
I’m going to talk to my hubby about this!
What about shopping at yard sales and thrift shops? Can they be exempt?
Why do you get to use the gift cards? That’s the same as using cash that’s already in your wallet! Unless they expire in July, you should not use gift cards IMO.
Wow BB. This is something I’ve been thinking about for some time. But I believe a moratorium would require pre planning. I was actually thinking of doing this for december, because most of my Christmas is already purchased. What a way to really consider and redefine the joy of the season.
I cannot WAIT to read all about your progress!
Thanks so much for listening to my opinion! I’m going to attempt to talk my husband into this, but we may need prep time because of a few personal medical needs. We may do this in August so we can buy what we need and stockpile it. Gotta be a joint venture to make it work.
I think gift cards are good, the money was previously spent. Some people may have to allow more then one tank of gas. Great idea but I will be driving to Portland for the birth of my granddaughter so timing is bad for me.
Does this mean that Mr. Bargain Babe will have to refrain from purchasing computer-related “necessities”?