This is definitely a fabulous idea, and I look forward to taking up the challenge!
DebtSafe is challenging everyone to freeze spending for the first two weeks in September. Anyone and everyone, who’s struggling to manage their finances is invited to join the DebtSafe Spending Freeze 2015 Challenge.
The goal: To stop unnecessary spending.
Spending freezes are increasingly popular worldwide, and while it’s not a long-term solution, it allows you to really take a close look at your finance to see where you can cut back.
They are encouraging us to save money because when you don’t save, you are making debt. Items that you have to cut out during the Spending Freeze 2015 include eating out, take-away food, clothing, toys, furniture, alcohol and other vices. You’ll be amazed at how much your perspective changes after two weeks’ of seeing what you can go without.
Before you begin the Spending Freeze 2015
Check your cupboards and your freezer and see what foods you are likely to need. If you already have lots of pasta and rice then aim to use this up during the time rather than spending money on even more foods. It may be advisable to set a small amount of money aside to buy perishables such as bread and milk.
Fill your tank with petrol so you’re not tempted to spend money at the service station. Consider filling extra petrol can if you need more than one tank over two weeks.
Pay all your bills before the Spending Freeze 2015 so that you’re not tempted to give out anything extra.
What you will achieve during the Spending Freeze 2015
The point of the Spending Freeze 2015 Challenge is to change the way we approach our spending. Forcing us to use and appreciate what we have – instead of buying something new. We hope it will make a difference in people’s lives. At the end of the two-week period you’ll have saved a certain amount of money. Decide what you’re going to do with that money before you start. This could mean putting it into your savings or paying off some of your debt.
After the Spending Freeze 2015 review your budget. If you stick to the challenge you’ll be able to see where you can save and find ways to cut items from your “essentials” list.
Tips to survive 14 days without spending money:
- Eat out at home. Take homemade versions of your favourite dish and make it special by using candles.
- Learn something new / a new skill or hobby without spending a cent. Involve your family and make this fun. Learn how to start a simple vegetable garden or how to manage your time better.
- Start to Up-cycle. Stop throwing everything away, start using old things in a new way.
- Enjoy FREE family time. Build Lego cities, play hide-and-seek, board games or explore your neighbourhood on bicycle.
- Do a stocktake of your grocery cupboard and plan your meals for the two weeks.
- Take a break after 5 days. Make a list of essentials you will need and take cash to buy. Remember, essentials only.
- Catch up on that ever-important filing.
- Join a local SPCA and get into the habit of getting involved in the community.
- Don’t feel sorry for yourself. Invite friends over and have a relaxing braai (ask everyone to bring their own meat and beverages).
- Get online vouchers and coupons and use them when you go to the shop. Keep the habit after your spending freeze is over.
- Sell unused appliances or furniture online.
Please send me your thoughts, and if you take up the challenge, your feedback on the 15th September, will be really awesome!
For more information visit www.debtsafe.co.za