I first announced that I was taking a break from spending on Instagram a few weeks ago (you can Watch the video here). I’ve heard from a lot of people who are advocating for this change and have also received a number of questions. I felt it would be helpful to write an article that answers some of the key questions that came up in the process.
Get in there!
Why I Started Fixed Spending
I’m taking a closer look at our finances with the business and the number of projects we’ve done. I spent a lot going fast (i.e. hiring the work instead of doing it myself). It’s expensive, it’s stressful, and it feels like a necessity until I actually stop and ask… right?
Eventually, I realized that I was getting caught up in spending because of the way I thought things should be. It’s frustrating to live in a beautiful home, have everything the way you want it, and still feel empty. (This is not intended to complain or seek pity! It is simply an honest reflection of what it is like to constantly seek improvement not necessarily. improve your life is at its core.) That realization is a good wake-up call for me. It’s a good opportunity to ask myself if my spending aligns with the way I’m really comfortable living.
I spent a lot to go fast. . . . It’s expensive, it’s stressful, and it feels like a necessity until I actually stop and ask… right?
Another personal reason I started freezing my spending is that I’m impulsive. Spending money has always been an all-or-nothing thing for me. My therapist sees it as a behavior that is both a compulsion and a coping mechanism. When that kind of spending is justifiable for the job, it gets even more complicated. I wanted to find out what I was trying to solve with the dopamine hit from buying something rather than sitting with whatever sensation I was experiencing. To me, this is more deeply rooted than just a budget issue.
What does this spending freeze look like in my life
The core area this affects is work.
This particular spending freeze is essentially holding back any major project. This includes anything I would hire a contractor or anything that costs more than ~$1K. Right now, at the start of the freeze, we’re not actually spending money on projects. I can see that this is pushing me to be more creative in the types of micro-projects that I to be follow.
The problem with work projects (in my case, often related to home decor) is that costs add up quickly. Even though I work with sponsored and gifted partners, there are still a lot of costs involved with designing a home. Tasks like hiring someone to hang wallpaper or paint a room add up quickly.
This spending limit on projects also helps me think about how I want to work on future projects, after the spending freeze has ended. Everything will be planned instead of rushing on impulse. That way, I can really decide what’s important, where I want to spend and where I want to save. I think there’s more room in the content realm for this kind of slow design approach.
In my personal life…
I almost freeze my spending when I buy new clothes (although I do get clothes donated from time to time by brands). I find myself in a closet full of clothes I didn’t know what to wear, and I knew something had to change.
We’re also planning our meals a bit more so what we need for any dish is already in the fridge or pantry. I love cook out of the cuff but sometimes I feel tired and don’t want to spend energy deciding what to make, it’s easy to just order takeout.
This spending freeze, at its core, is about being more intentional and pausing before you do it.
There is a middle ground between completely ignoring a problem, want or need and solving the problem, want or need right away. Whenever I really want something, I find it helpful to put it on paper and make it tangible on paper, then pause before buying. If, after a while, it’s still on my mind, I’ll consider buying it. If I forget it, it’s not what I need to buy.
I designed this spending freeze around my mental health and personal life, unlike others. If you want to try this for yourself, I recommend taking some time to think about the areas in your life where you want to make some changes. The spending freeze goes beyond the health of your wallet. They also want to make more peace with who you are as a consumer.
How long will I continue to freeze my spending?
I want to continue this for the rest of the summer. I want to go long enough that I feel a significant change in the way I spend my money to solve the “problems” in my life. This is especially relevant to problems that can be resolved by pausing, remaining calm, and thoughtfully moving forward.
I hope this helped clarify a few things for anyone curious to know more! If you have any other questions, feel free to answer them in the comments section below.
Kate is currently learning to play the ukulele, leaving her husband, children and dogs desperate. Follow her on Instagram at @witanddelight_.
