Below is Melanie’s Spending Diet Update. See all the Spending Diet and Faster’s Updates here. – Anna
This past month I celebrated my birthday. Prior to the Spending Diet, I would have probably bought myself an unnecessary gift… and treated myself to a fancy dinner… and then maybe to overpriced cupcakes and wine. This year was a much quieter affair. My birthday wasn’t a “big” or significant birthday. I didn’t go on vacation. I didn’t even take off work. My husband made me a nice dinner and a fruit cake– literally a cake made completely out of fruit. It was impressive and super thoughtful.
Birthdays one of those times where I like to get introspective and reflect on goals and dreams. One of my biggest goals was to save a significant amount of money. And I would consider $10,000 a significant amount. I like to get discouraged sometimes about how much money I have (or haven’t) saved, but the Spending Diet has taught me some truly beneficial habits. It’s taught me that I can save a significant amount of money each month by simply automating my savings. Once a month $1,000 is pulled into a separate savings account and I don’t think about it again. The Spending Diet has taught me that I don’t have to celebrate each and every thing. It’s great to acknowledge my accomplishments, but I can do so in a cheap or free way. I can make a gratitude list, I can treat myself to a piece of dark chocolate or give myself some time to just simply relax to celebrate accomplishments. The Spending Diet has also taught me that I can improve and grow my own financial literacy. I’ve learned more about money in the past year than I have… ever!
Even on Month 10 I know I can still make improvements. I still spend too much money on groceries and I still browse retail sites online. I should block those sites and meal plan before I grocery shop (not the other way around), but I’m human. I’ve made huge leaps and bounds in the past year. I’ve got a few weddings coming up this summer that will present budgetary challenges, but I plan on continuing with my automated savings indefinitely. We’ll see if I’m still this positive on month 12. :)
Do you give yourself time to be introspective? Let me know how you reflect on your accomplishments in the comments!
Melanie’s Spending Diet Stats:
Month 10 Savings: $1,000
Started the Spending Diet: July 1, 2014
Savings to date: $10,600 (!!!)
P.S. Ready to get out of debt ASAP? Check out the Spending Fast Bootcamp!