The next three steps of the Forget the Joneses project are:


#2 Go on a 21-Day Spending Freeze
#3 Question the Difference Between Wants and Needs
#4 Create an Approved Spending List



#2 Go on a 21-Day Spending Freeze
What is a spending freeze? To put it simply, no more spending. Zip. Zilch. Nada. You’re not allowed to spend money on anything but necessities. Use up the food you have in your cupboards. Your grocery budget is now limited to what you must buy (milk and toilet paper, for example). Think of it as “Mommysavers Survivor” except the only prize at the end of the game is the money you’ve saved. J

Why 21 days? Research shows it takes approximately 21 days to make something a habit. During these three weeks, the habit of questioning wants vs. needs will be reinforced. I also hope it breaks you of the habit of making impulse purchases. Plus, there’s something psychologically reassuring about not having to commit to more than 21 days. You may find that you want to continue the Spending Freeze after the 21 days are up. That’s fine – but for now you’re just committed for three weeks.

Note: Even if you’re sitting on a huge nest egg and thousands in cash, this is a still great exercise. It will help you eliminate impulse purchases and detach from materialism.

#3 Question the Difference Between Wants and Needs
During your spending freeze, you will need to question the difference between wants and needs. Some things will be more clear than others. Yes, chances are you need gas to get to work. No, you don’t need a new necklace to match the sweater you got for Christmas.

… But what about the things that aren’t so obvious? Do you really need to birthday card for you brother-in-law, or can you make one? Do you really need to get your hair colored? Those gray areas (pun intended) are where your challenges lie. Try to anticipate the decisions you’ll have to make in the next three weeks. Are you going to be invited out to lunch? If your child needs money for school lunch, will you have him brown-bag it instead? What will you do?


#4 Create an "Approved Spending" List
Notebook Assignment: Write down all the things you think you will need to purchase in the next three weeks. You are only allowed to purchase the bare-bones minimum, things you cannot get by without. This isn’t the time to hit the Target clearance rack (you can do without gift wrap for next Christmas) or to stock up on kids’ clothing for next fall (chances are they’ll have enough anyway). This is a time for you stay out of the stores and to question what is truly a necessity.

Now get going… write down everything that is on your “approved” spending list between now and January 22nd. As things come up within the 21-day period, decide whether or not they belong on the “approved” spending list. You may unexpectedly run out of deodorant on January 15th. It’s OK to add it to your approved list when the need arises.

Additional Support?

• Visit our Spending Less/Saving More forum. Discuss your temptations and what is on your "Approved" spending list.
• Start a Mommysavers Blog to share your experience with others participating in the FTJ project - share your notebook entries there
• We have a thread started to help those of you looking for recipes to make during the Spending Freeze: FTJ Recipes

Related Reading:
Not Buying It: My Year Without Shopping by Judith Levine
If you can find a copy of this book at your library, you may want to read it (don’t buy it!). The book’s author, Manhattan-based Judith Levine, goes on a self-imposed spending freeze for an entire year. In the process, she saves $8000 and finds herself questioning the difference betweens wants and needs. While the subject matter is relevant, you may find it hard to relate to the author.

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I just printed this off and it's now in my "handy dandy notebook". (to print go to "thread tools" see at the top of the post, scroll down to PRINT THREAD" or you can copy and paste it into a word doc and print it from there otherwise you get all the posters comments too)

Ready to work Boss Lady!

we are way stocked up on groceries and tp ect so we should be able to do well with the 21 day freeze... this is great!!!

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SILENCE IS GOLDEN BUT DUCK TAPE IS SILVER.

Ok this is going to be somewhat hard....I will make my list today of things i can purchase in the 3 weeks that are truly a need.

Yesterday I did tell a friend i could not meet her at the mall because i knew that with the bath and body great sale going on i would not be able to stop myself so i am just staying away.

I will have to pay a great library fee in order to rent ($20.40) i need to get better at returning books.


Wish me well on this

Man, Kim! That is going to be hard! Of course, I have a list to go grocery shopping today! I have been paring down the last couple of weeks so I think I may have to go on that!

Oh, my. This is gonna be tough. I am a total shop a holic. I really can't pass up a good deal.
Thinking positive. I really can do this and I WANT to change my spending habits.

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****jbmama****

Sounds great but I'm having a 1st b-day party next week for DS so I have to buy more stuff. I have most bought already, I bought a lot on sale at different times through the year already. I'll do #2 after the party.

As for the clearance gift wrap...I just can't pay full price at Christmas time, but that's already bought for next year!

I had already discussed with the kids two days ago. My DH is not as not happy with the idea so he may play along until I can show how fine we are without having to buy things. The kids were excited about the challenge and the idea of a notebook with list.

Up until January 11th, it won't be that hard. After Christmas and paying all the "big bills" for the first of the month, we only have about $125. That isn't much in a household of 7! One thing we are going to have to look at more isn't just spending money per se, but driving. We could probably cut out at least one tank of gas a month if we looked at that.

I'm on it ~ I do have a question that I see as a problem.

FTJ Assign #2 ~ Help needed

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