2.21.2011

{ on my mind...money }


“It's time to get back to a more balanced state of acquiring what I need, when I need it.”
Martha Beck

Will & I spent some time this weekend going through our finances, trimming the fat from our budget and revisiting some ambitious savings goals (early mortgage payoff fund, retirement savings, college funds, giving plans and travel funds). Additionally we are trying to save a big chunk of change to take a BIG 10 year anniversary/Will's 40th birthday trip to Bora Bora next winter. So with that AWESOME goal in mind, I commence my spending hiatus.

But prior to starting my spending hiatus, I would be remiss if I didn't say that I picked up a few things that I "needed" recently. But I went through a detailed process to figure out what it was I "needed."

Inspired by this great article from Oprah Magazine about how to shop smarter and only acquire what you need, I recently went through my closet (eagerly looking forward to spring's arrival and the shift in clothes that brings) and made a pile of things that I no longer wanted (to donate or sell) and made a small list of things I'd like to acquire (wants) and a few things I need (a relative term for sure). Like I want a cute spring romper and I could use a gray tank top and a pair of black wedge sandals. I am trying to get all of my clothes so that I can mix & match them and coordinate them (think lots of blacks, grays, purples & whites). And am letting go of the cute, but doesn't match with anything, turquoise top and the tan linen pants and the vintage brown & orange Lululemon bag I don't use. The ebay shop is open again.

So, March 1st is the official start of the spring spending hiatus. I'm visualizing money flowing into the "Bora Bora" fund and the kids "i'm setting my kids up for the future" fund and the "I'm going to lie on the beach in our retirement" fund.

Anyone want to join ME?

2 comments:

denise said...

i gave my kids some money this weekend to buy something they needed vs. wanted. tori needed jeans. josh needed shoes. tallie really needed nothing - so she bought one shirt and pocketed the rest!

I am kinda on a spending hiatus everyday - although I did buy some really cute plates this weekend that we really did need!

Wilcox Family said...

What your selling P90X?! lol Hey, I'm in now and forever more!!

Jana