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February No Spend: Pent Up Spending

February 26th, 2016 at 02:55 pm

LivingAlmostLarge asked in the comments of my post yesterday if all the pent up spending will be spent in March. No not really.

We have put $3,577 into savings (doesn't included investments) during the month of February. Some of this is money we usually save for car repairs, Christmas and a deposit into our emergency fund. But MOST of that cash is because we didn't have big January bills to pay and we spent far less this month than we usually do. Going out to restaurants, buying movie rentals, picking up a lot of snacks, alcohol, driving to store to get things, buying items because the coupon makes it a great deal adds up. A lot more than we realize.

The point for us to have a low spend month wasn't to deprive ourselves, but to make conscious choices about what we really need to live each day. Do we NEED to go out to eat to be fulfilled? Do we need to rent that movie, or are there other alternatives?

The other reason was to stash some cash. We need cash for airline tickets, vacation goals, college deposits, and furniture we want to buy.

As you can see the cash that was stashed probably will be spent at some point, but on things we want that are important. More important then other things we may have spent our money on this month.

We do have some pent up spending to do, but those purchases will come from March income. I also don't expect that we will suddenly eat out more than we usually did (twice a month maximum) because we didn't eat out at all this month. We will need to buy the toiletries we are getting low on, but we didn't use less toothpaste this month, we just avoided needing to buy those things because we already had those on hand. I used a small tube from the dentist to get by this month. I probably need a haircut that I might have done this month, but I won't get two next month. So yes, spending will be more next month, but it doesn't negate the savings we accomplished this month.

On some level it is just a shift in when the money is saved. We saved a lot in one month for things we need cash for soon, rather than saving a little each month by 'hoping' to reduce our spending each month. Again this was a very conscious effort to reduce outflow of cash to set aside for savings and future purchases.

I feel very confident that any future purchases (other than the large ones already mentioned) will be made with future income. If I find out different next month, I will be sure to let you know! Smile

In other news, I did make an eBay sale. It looks like the profit is $9.46. I have four other items listed that could each bring in a similar profit.

7 Responses to “February No Spend: Pent Up Spending”

  1. Ima saver Says:

    Great job!

  2. Carol Says:

    Good explanation of why a no spend month can be so helpful.

  3. ThriftoRama Says:

    I agree. I don't feel like we have any pent up spending. If anything, the things I wanted, I don't feel like I want that much anymore. It's useful to prioritize. And you're right. So much more money than we think gets used up on little things that aren't that important or gratifying. I'd rather have the money on hand for the bigger projects and purchases that are way more satisfying!

  4. MonkeyMama Says:

    Awesome results!

  5. snafu Says:

    I liked this February 'no spend' project because it raised our level of awareness higher. However, I'm guilty of arranging required spends so that they occur on days when other payable events happen. Worse yet, I manipulate spends based on CC promotions and cut off dates that extend payout significantly. DH blew our agreed plan out of the water with a huge spend because he found a dream deal for a long planned purchase.

  6. LivingAlmostLarge Says:

    Awesome results. I've found that it just delayed buying stuff when I did a no spend month. I don't find the eating out hard, I find more the deals. I'm pretty good right now though on stuff to buy. Good rotation of groceries and stuff.

  7. FrugalTexan75 Says:

    Sounds like this was a very fruitful month for you and your family. Smile

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