A spending freeze is a challenge to help you stop impulsive spending. You can learn to survive without constantly buying and getting new items. This will save you money and decrease the amount of clutter coming into your life.
A spending freeze is when you stop spending money for a period of time. The only money spent is on necessities such as bills, food and things that need to be replaced like lightbulbs. Nothing else should be bought.
Checklist for a Spending Freeze
⬜ Pick a Time Frame. Set a goal for how long you will do the spending freeze.
⬜ Make the Rules. Figure out all your essential bills that need to be paid and then make sure nothing else is bought.
⬜ Make it Fun! Ask friends to join in, or challenge yourself to see how much money you can save.
Are you wasting your money on items that serve no purpose for you? If you don’t want to take a small spending freeze, I encourage to ask yourself questions the next time you are shopping. Ask yourself if you truly need that item, if it will serve a purpose in your life if you just want it to fill a void and how often are you going to use it? And, be honest with yourself.
Excerpt from the Simply Minimal book.
How to do a Spending Freeze and Make it Successful (YouTube Video)