Three Things To Give Up For A Spending Reset
If you’re new to budgeting, watching what you spend, or just saving money it can be incredibly challenging to stick to some of your goals or plans you have. It’s like trying to give up sugar for the first time. (Never have I ever.) It’s simply not easy and not fun. At first. But then, it’s easy and you may be jealous of people eating an ice cream sometimes but you are not jealous of the results of that ice cream. (So I hear, I’m still the one eating ice cream as of now.)
Budgeting is the same.
If you’ve never done it before it can seem robust, really hard, not fun at all and futile. But, this I do have experience in and can tell you, once you get the hang of it, once it becomes your life, your routine and not a thing you are working on. It just becomes natural. And though you may look at others buying whatever they want when they want and be jealous, you quickly remember you are not jealous of the consequences of that, major debt, monthly payments, no retirement or retirement at 80 and working all the time for that money.
So in case you are struggling through the beginning stages, might I suggest a factory reset?
You know those things you do when turning it off and back on didn’t work for your electronic device. A factory reset for your spending is something that can help your will power and perspective when it comes to just starting out on a minimal spending/budgeting journey.
Here is what happens when you do a spending reset:
1. You realize you didn’t really need everything you thought you did.
2. You realize how much money you were spending on all those things.
3. Your “maybe I can buy this” turns to a simple “no I can’t right now” and the decision is already made. No pondering, worrying, stressing about making the right buying choices, etc.
4. When you do start buying things again, your lens has been changed. You now know what you can live without, what you can do instead of shopping and how much you are really willing to spend on such things.
Convinced? Great, here are the three thing to give up:
I wrote up a whole post about how clothing shouldn’t be in your budgets at all as a category so you can read that if you want to be fully convinced. But as for a spending reset, clothing is definitely something that you should probably practice not buying.
Especially if that is a soft spot for you. ;) (I mean we all want to look good right?)
2. Eating Out
From a girl who dislikes cooking, trust me on this one being hard at times.
It’s just so much easier to go somewhere and have someone serve you and clean up after? Come on. But also, yes it adds up. So so quickly.
I also have a post about how to eat out for cheap when you do add it back into your budget, but for a spending reset, it definitely needs to go. Practice reacting to "I’m hungry and don’t want to cook" with, "but I know we have things in the fridge so let’s just do it and save some money".
Eating out is cool and all, but not worth all the money we spend on it on the regular.
I don’t know what entertainment is for you but I’d say it would be any of those non-essential things. Buying books, going to the movies, maybe even some of your monthly subscriptions. These bring us pleasure but so does being debt free and financially free.
Take a spending reset by cutting these extras out for awhile and see what you really miss and what you don’t.
Are you convinced? You can read about my year of minimal spending here where I did a little forced spending reset and how it completely changed my perspective. I promise if you do it right, it will do that for you too. ;)