Up the the challenge

Happy Canada Day to my fellow canucks!

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The year is half gone and after my little spending spree the other week, I realized I haven’t really stuck to my resolution to get my spending under control. Financially, I’m in better shape than I have been in the past, but I could be a heck of a lot better. Right after that spree,  I had to do some emergency work on Dory. It was only because of Dave’s free labour and a small family loan that I was able to manage it. I really need an emergency fund and to do that, I really need to curb my  spending.

So… I redid my budget, and I can be debt-free by October. But only if I stop spending willy nilly and commit to paying off those credit cards. So I set myself some rules – well really one rule: If you don’t need it  – don’t buy it! This applies to:

  • Clothes: Honestly this one won’t be hard to accomplish. My drawers and closets are over-flowing with clothes. I have more than 30 Old Navy Fit and Flare dresses – not to mention about a dozen other styles. What I really need are new/bigger dressers, but they can wait until the cards are paid.
  • Shoes: Again, another one that’s not hard to stick to.  It’s actually been months since I’ve even looked at new shoes. Now that I work from home, I don’t really have anywhere to wear all the fabulous shoes I have!IMG_6385
  • Candles – with or without jewelry: This one hurts a little. You know I loved Charmed Aroma, and they came out with the prettiest little shell candle that would make a lovely planter after the candle is gone. But no. I don’t need any more candles (I really only burn them in winter and still have several unburnt ones left) and the last thing I need is more jewelry. Much like my clothes, I’m swimming in trinkets. I bought a huge jewelry armoire, and it was still not big enough to hold it all. Both of my dressers are covered in boxes and earring stands.
  • Plants: Household or garden. Since most of the nearby garden centres are closing up for the season, this won’t be too hard. What will be hard is not grabbing a new house fern or two on grocery day. But the house does look like a jungle come fall when all the house plants come in from their summer in the back yard so I definitely don’t need more.
  • Yarn: This one is not terrible, I have a pretty good stash and still have a bunch of undyed yarn in the basement I can customize in a pinch! I should be able to stick to it pretty easy.
  • Fabric: This is going to be the hard one. Like any new hobby, the desire to “buy all the things” hits hard. But, I already have a sizeable stash, with plenty of fabric to keep me piecing for quite a while. I just have to stay strong.

Now… that said, there are some… caveats. I said “If I don’t need it…” If I do need it, I can get it. However, we all know how flexible that word “need” can be. So I’ve set some boundaries around that. To purchase, I must truly need it. For example:

  •  My last pair of underwear is full of holes. I can buy new underwear.
  • My only pair of running shoes lost a sole. I can buy new running shoes. However, if one of my pair of high heels breaks… no dice… I have eleventy billion pairs of heels. Even if it’s my favourite only green pair. Something else in my collection will work.
  • I absolutely need it to complete a crafting project.  Like my Time to Sew squares… I currently need some cream sashing fabric that is close to the background fabric in the blocks. Nothing in my stash is close, so I can purchase that fabric, and only that fabric. This will also apply to backing fabric and batting, but only for tops that I currently have completed or in progress. No “for future use”.

When I told Mom my plan and my rules, she said she’d join me. While she doesn’t have a problem with clothes, shoes and plants like I do, we all know she loves to buy sewing gadgets, rulers, stencils and fabric like it’s going out of style.

She also suggested we mark each day we stick to our plan on the calendar with a BIG X, that was we have a visual of our progress and how well we are doing. We are both terrible online shoppers, so I think having this visual right by the computer will help us both immensely!

And while I said I’ll be debt-free by October (if all goes to plan), I think I’ll try to stick to the plan to the end of 2019! By then I might even have a nice little emergency fund squirreled away.

If you’d like to join us, feel free. I think it’s going to liberating to see that credit card balance say ‘0″.

 

 

9 thoughts on “Up the the challenge

  1. Araignee

    I hear you and will be joining you. Daughter is drowning in her student debt so starting next month I am going to be handing her my Social Security check for a year to see if we can get that needle to move.She’s been paying on it for 10 years and the principal hasn’t even budged. It’s going to hurt being that poor but if you look at my stashes-all of them, I don’t need a thing. Only the soap one has to be renewed. I’ll still have my teacher’s pension so I won’t be completely broke but it’s going to be a challenge.

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  2. Happy Canada Day! Several years ago, I was in the same situation, and it took strict discipline to get things under control. Now, I pay the plastic off completely EVERY month.

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  3. Happy Canada Day …………………..I’m over here cheering you on! Debt free feels pretty great, but it’s kind of like dieting …………it’s hard to stick to in the heat of the moment.

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