Going on a Spending Diet

The real title of the article I read in the paper was, "Could you shut your wallet for a month?", and it was written last February by Amy Dunn from North Carolina. I enjoyed the article a great deal. We can all improve our provident living by improving our spending habbits. Consider her challenge--attempting to live our lives without spending money.

What does this mean? Well, that would be "YES" to paying mortgage, regular monthly bills, and auto fuel for minimum travel. Otherwise, it's a "NO" to dinner out, new cloths, gifts, entertainment, and weekly trips to stock up on groceries. That means eating all meals from what's in the pantry/freezer, amusing ourselves without spending a dime, and getting creative with gift-giving. Necessary doctor visits are OK. Also, set aside a certain minimum dollar amount per week (according to the size of your family) for some fresh groceries. That's basically it...if it's discresionary, it's off limits.

AND NOW FOR THE BLESSINGS/LESSONS. After trying this exercise, the author explains the benefits she experienced. Money was spent more consciously and living was more simple. There was more time when there was less shopping. This meant freedom--more time with family, more time to read and work on projects. Buying less meant less clutter to manage, less to clean/dust/maintain. Money was saved by shopping sales and using coupons. The home was purged of bargain-priced clutter and new purchases were considered more carefully. If it wasn't needed, it wasn't a deal, no matter the price.

Now, if this sounds too hard, then how about simply writing down all of your discressionary spending for a month? Then, take a long, hard look at that and see how you can modify your spending habits so you can more quickly get out of debt and build your savings for the rainy days ahead.

President Hinckly urged us to "Look to the condition of our finances." He said, "I urge you to be modest in your expenditures; discipline yourself in your purchases to avoid debt to the extent possible. Pay off debt as quickly as possible, and free yourselves from bondage."

I can only say that I believe the words of the prophet are true! LET US KEEP TRYING TO IMPROVE!