Everyone wants to conquer frugality when the new year starts. Christmas has just passed and if you are like us, the bank account is low. Yes, we set up budgets, save our Christmas money in envelopes and do all the things. January always happens to be the month to start saving. Maybe it is the fresh start on a New Year, or the idea of getting rid of old habits. Whatever the reason, let 2025 be the year to conquer your frugality as an individual and family.
If there is a good time to start a new habit, January is the month. Winter is a perfect time to slowly change a routine, mark off a daily habit, and try something new. I don’t usually start new habits in the summer because we are so busy, but the winter is when I can focus. My no spend challenge starts this month and I am ready to set up the parameters!
Know Your “Why”
If your like me spending money is easy. Saving is hard, especially in the winter when there is nothing else to do. Boredom plays a big part in eating and spending habits. Like anything else you have to know “why” you want to save money.
Boundaries to set in place are what will you be spending money on and what will you not spend money on. For example. I won’t be buying coffee, but I will be buying coffee at the store. The savings is significant. Changing habits is the best way to conquer frugality.
Breaking Bad Spending Habits
I am going to let you in on a little secret, I still struggle with spending money. When I lack discipline, my account shows it. Not in a big way, but little things do start to add up. Carelessly I will justify buying coffee, eating out, buying Amazon specials and other items that I don’t really need. In this day of convenience everybody is selling something.
Conquering frugality means changing what you are doing with your money. If you want to break a bad habit, identify the cause. For me, I spend money when I am bored, or feel like I have done well on something. To change that my goal for this year is to recognize what triggers my spending and do something different. Instead of getting a reward for spending, I am going to remind myself of my savings goals. In addition to that, I will be placing a post it note in several strategic places reminding me of my goals.
Set Spending Boundaries
Budgets are a great way to set boundaries, but for me I don’t feel like they help me to conquer frugality. As I have mentioned before, frugality is a mindset. Creating a budget is like going on a diet for me. My boundaries include not signing up for any subscriptions, if I already have the item then I won’t buy a second one until needed, and stop food cravings for restaurants.
How will you set your boundaries? Each person has different triggers and coping mechanisms for spending. Becoming a saver vs. a spender will happen over time, and it will take effort. After this month of a no spend challenge see how far it will take you and the progress you have made.
Identify and Avoid Spending Triggers
Identify your triggers with a journal. Whenever the urge hits you to order something on Amazon, Door Dash or any other to your door service stop to evaluate. Recognize that you are shopping for convenience ( if that is the case) and jump in the car to grab what you need from a store. If that makes you think it can wait, then the assumption the product really isn’t needed. In the journal write down what prompted you to pick up the phone and use the app. After a while a pattern will reveal itself. Breaking the pattern is key to your success. After this, you will begin to notice that you have identified a spending trigger.
Avoid the temptation. First and foremost take any ordering apps off of all devices. Convenience is not our friend when we are trying to save money. Going to the store and using cash is a good way to think twice about purchases.
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