🎵 🎵 “We’re going on a spending freeze, a spending freeze, a spending freeze. We’re going on a spending freeze, will we succeed?”🎵 🎵
As we’ve written about before, we periodically do a spending freeze (or “no spend”) month when we want to reign in our spending and reset our mentality about buying unnecessary stuff.
So, here’s our plan and budget for March. We’re sharing to keep us accountable. Wanna join us?
Spending Freeze Rules
- No unnecessary or unplanned purchases (none, zero, zilch)
- Stick to the grocery budget (our biggest “discretionary” budget)
- No eating out (including coffee, fast food, take-out, restaurants, etc.)
- Any absolutely needed purchases – talk with each other first to make sure we agree it is absolutely necessary. If necessary, try to find it for free or used or discounted first (we’ll be using this chart).
- No extra kid activity expenses – stick to the free activities (parks, hiking, play dates at our house) and activities where we’ve already paid for memberships (zoo, children’s museum, Hike it Baby, etc.)
Here is our discretionary spending budget for March. We’ll reconcile at the end of the month.
This includes all of our non-fixed spending for the month that we’re trying to reduce/freeze. It does not include fixed bills such as mortgage, utilities, childcare, etc. It also does not include business expenses or rental property scouting expenses.
- Groceries: $650 (Stretch goal is to be under $550. Think we can do it?)
- Eating Out: $0
- Travel: $100 (we have one weekend road trip planned to see family, so we’re planning for extra fuel and date night expenses here)
- Gas/Fuel: $100
- Kid Activities: $0
- Other Purchases (clothes, toys, hobbies, gifts, etc.): $0
Other March Goals
While we’re talking about goals and accountability, here are a few more family and personal goals for March.
Cut the crap: Purge the office and my closet (I always love to purge during spending freeze months, as it reminds me not to buy stuff).
Real estate: Connect with a real estate agent and confirm our financing to be ready to look and place offers on our first rental property – we’ll share more on this soon as well.
Complete daily chore charts with the boys and report on how it goes.
Publish two blog posts a week. There, I’ve committed to it.
Update our FI spreadsheets and report back on how we’re doing.
What are you planning for March?
Want to join our spending freeze / no spend month? What are your March goals? Join the conversation below or connect with us on Facebook. Cheers!
P.S. Could you tell what tune the intro song was? Comment below if you think you do!