If you guessed from my spending freeze experiment that I like a good challenge, you’re right. I like to see what I can do when I really focus and try. I also think that challenges are good ways to work on changing bad habits, whether you’re looking to stop smoking, start exercising, reduce your weekly alcohol consumption, or eliminate frivolous, unnecessary spending.
It’s this last one we’re going to focus on for this special June challenge.
One thing I’ve learned is that I might have a problem buying things I think I need without actually checking to see if, in fact, I really need them. I’m not talking about conscious stockpiling. I’m talking about thinking I need lip balm every time I go shopping and wind up with 10 different types of it (note: I have a moderate addiction to lip balm. Even when I know I have enough, I still buy more if I think I’ll like the flavor, scent, or consistency. And, for the record, Bonne Belle Dr. Pepper has the best of all 3). Here’s just what I found in my room. I didn’t even look in my purse or include lipstick or my fancy lip gloss:
Some people do this with craft supplies or nail polish or food or clothes or kids’ toys or hair accessories or golf tees…you get the point. There’s a lot of unnecessary spending and accumulation going on.
But I don’t want you to fall into this trap. Or, if you’re in it, I want to help you out. To make that happen, here’s what I’d like you to do. Please:
Go through your house, focusing on the items that you believe you spend too much unnecessary money purchasing. Note exactly how many of said items you have. Based on that amount, ask yourself if you need to buy any more that item this month (Not want. Need.) If the answer is no, commit to not spending any money on just that thing for the entire month of June. Then, when you come back from shopping trip having not spent money on that item, put the money in a savings jar (envelope, piggy bank, shoe, coffee can under your porch…whatever you’d like). At the end of the month, add up how much money you’ve saved just by using what’s already in your house.
Then, treat yo’self (financially, of course). It doesn’t have to be anything fancy, either. Use the saved money to make an extra payment on your debt. Or contribute it to a savings account. Or start an emergency fund. Or use it as another step towards achieving any financial goal you might have. Just put it towards something productive and positive.
This is not a spending freeze. It’s simply a challenge to use what’s already in your house. You’ll be amazed at how much money you can save when you just use that shit up. Because I don’t care how much money you have, there’s no need to keep wasting money on a collection of products that’s so vast you’ll never get around to using all of them before they expire.
Are you in? I hope so!
P.S.I’ll be talking about the challenge on Facebook, so if you’re not already a DMS fan, please like and join us! I want to hear about your progress!
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[…] June Challenge: Use That Sh&T Up from Daily Money Shot […]
My wife has at least 10-20 sample size bottles of skin lotion, she keeps saying that she’ll use them during travel or on-the-go, but I swear I’ve never seen a single one leave the place we keep such items (under the sink). I think I’ll renew my efforts to have her start using these up 🙂
I’m sure I’m guilty of something similar as well.
Money Beagle recently posted…6 Terrible Reasons Your Boss Might Love You
I think that’s a great idea. And I’m sure you can find something and then you two can work on the challenge together!
Your shopping addiction could be much worse. It could be 10 pairs of black shoes that each cost $500. 🙂
Sean @ One Smart Dollar recently posted…Who is USAA?
That’s very true. Fortunately, I hate shoes and I’m much happier in my $2 Old Navy flip flops.
Leslie and I are working on using up a lot of things in our house as well. For some reason we always have a billion jars of peanut butter (opened) in our cupboards. A big goal for us this month is to streamline more of our purchasing and only getting what’s necessary to carry us over to the next month. This challenge is a great idea!
Kyle @ Debt Free Diaries recently posted…How We Save $24 Each Month with What We Drink
LOL, have to agree with Sean, it could be worse, Jana. :-). That being said, we’re in! Not sure what it is we have too much of at the moment, but I’m guessing it’s in the food area. I would love to spend less on groceries this month!
Laurie @thefrugalfarmer recently posted…Recipe of the Week: Cheese Quiche
Spending less on something is almost always a good thing, Laurie!
Ha ha, I’d have to agree with Sean, you could do much worse. 😉 We actually ran into this last month with my wife. We have tendency to stock up for her when Bath & Body Works does their big twice annual sale. I always tell her to get whatever she wants because she can generally get it much cheaper. Well, when we had our bathroom redone we found like three dozen full containers of lotion and stuff that had yet to be touched. I think we’ll be skipping the next couple of sales. 😉
John S @ Frugal Rules recently posted…Frugal Gift Ideas For Dad
I swear we’re not alcoholics, but we have a ton of “stray beers”. Like, we buy a 6 pack drink 4 or 5 and have 1 left. We probably have 5-6 different bottles beer in the fridge right now. We will be using err drinking them up this month 😉
KK @ Student Debt Survivor recently posted…Top 10 Reasons to Pay Off Your Student Loans ASAP
Stray beers in the fridge are okay by me. They’re the sign of a well kept home!
Gah! I’ve been wanting to do this forever but keep chickening out. :/ I have tons of random/stray bath and beauty items around my house. I need to get rid of the ones I’m never going to use (like 3 year old gross generic lotion) and keep things that need to be used up in sight! Then once they’re used up I won’t feel so bad about buying more! 🙂 AND I’ll save money for it in the meantime.
Christine recently posted…Extra Income and Savings: May Update and June Goals
Absolutely. The buying new, fresher ones always makes the using it up part worth it. Also, it’s great fodder for some blog posts later in the month or early July after the challenge is completed.
I had to do this recently with shampoos and lotions. The kids bath was over run with different products for their different ages (no tears kids shampoo next to the Axe body wash for the teen heart throb). Each of them seemed to have at least 2 or three on the go. Clearly they’d found the stash of new bottles. I removed all extras except the ones closest to being finished and that was all they had waiting when they hopped into the shower. In a few days those were done and I put out another set of half used bottles. Within a couple of weeks all the odds and ends were gone.
I did a similar purge of supplies to get rid of all those little hotel sized shampoos and lotions we’d accumulated. Each shampoo bottle had enough for 2 showers so the two of us used up one a day for about 2 weeks to get through them all. I dumped all the lotions together into a pumpdispenser. It cleared out ~10 little bottles and should be enough lotion to last for many weeks. It started as a decluttering exercise, but it was a good way to use what we already had and avoid spending on new supplies that clearly weren’t needed.
My wife usually orders her makeup from Sephora when she can find good online discount codes and they have sales on. she has collected 100’s of “free” samples of every kind of perfume you can imagine by doing this. They are probably worth a few dollars if she would ever part with them but that will never happen. I will have to find something else.
I love Sephora. I am actually exercising tremendous willpower by not going there today.
Instead of focusing on your wife, what’s something you have too much of? Maybe you can use that.
I am doing this with my pantry now. I did it with my beauty items a while ago! Great idea, and it really does save you money.
SMD @ Life According to Steph recently posted…Pearls of Wisdom from June Babies
My money hole is food – and not enough freezer space. This is compounded by my love of entertaining and foodie related gifts received. Fiance is also into baking so we lierally have a cupboard full offlour. Will mull this one over to see what i can make of it.
First time on your site–and do I hear you!
The thing I keep buying is plumber’s tape. It’s super cheap, but I keep losing it.
My husband keeps buying medicine–all types. Every time he has a twinge or sniffle, he buys more of what we already have.
Jenny @ Frugal Guru Guide recently posted…Are You Ready For The New College Loan Rates?