No Shop January 2013 Update

Earlier this month, I declared that I would be celebrating my second annual No Shop January. Here's a little update on how I'm doing.

Successes

• I went shopping with the boy last week and managed to resist the temptation of buying stuff that was super on sale at J.Crew.
• I've taken multiple trips to Target without buying random crap. 
• I completed a couple projects without buying any new materials. 
• I decided I don't need to buy another pretty calendar. 
• I washed all of my tights so that they are ready to wear again (small victory!).

Failures (kind of)

• I ordered Dwell magazine through a Daily Candy deal. Magazines are something that I choose to invest in since I need so much inspiration for school and images for projects. Most of the magazines I get right now lean traditional/new-traditional, and even though Dwell isn't really my style, I decided I need to diversify my inspiration sources with something more modern. So I'm OK with that $12 purchase. Plus, if I buy even three of any specific magazine off the rack in a year, I end up spending more than the subscription price, so it's worth buying the subscription if I think I'm going to do that anyway. 
• I have not been stellar at planning my meals, so I've spent more than I intended on eating out a couple times. Still, I haven't been eating out as often as I normally do. 

Temptations

One of the reason I did No Shop January again was not just to save money, but also to conduct a little exercise in impulse control. Naturally, I've been tempted to purchase a few things during the month. I haven't pulled the trigger on any of these, but I am do so after sleeping on them for a while (another two weeks maybe?). 

Target Horse. This little guy is part of Target's great Modern Cottage Home Decor Collection, which I initially spotted on Sanity Fair, and later saw in store. He would look wonderful on my new bookshelf in our living room. Right now I have a white reindeer on there and he looks cool, but he's really only socially acceptable for the next few weeks. This horse would make a great replacement.

Target via Pinterest

Kate Spade's new book, Things We Love: Twenty Years of Inspiration, Intriguing Bits and Other Curiosities. Why am I such a sucker for big beautiful design books? I could spend hours pouring over them. And I LOVE how stacks of design books love sitting on a coffee table, although I don't think that's very practical because I wouldn't want anyone putting their sweaty drinks on them, even with a coaster. But still. I don't really carry Kate Spade's handbags, but I love her classic yet contemporary, playful yet sophisticated aesthetic. And as I mentioned last week, I love her jewelry. I want to see what she loves!

Amazon.com via Pinterest

Garden Stool. We have this funny little space next to a chair in our living room which doesn't functionally need a table next to it, but it just looks weird and empty. Also, we need more items to introduce our green and plum color scheme throughout the room. They're on sale at World Market right now, and I'm seriously tempted to grab one while it's so affordable. Now that I look at it I'm not sure that I am totally in love with the shape. See--this exercise in impulse control is working!

Cost Plus World Market via Pinterest

Harper's Bazarre, Vogue, and Architectural Digest. I already receive at least 5 magazines every month, and I feel like I'm forgetting one. I just ordered Dwell. I want more. What is wrong with me? I've followed all these publications on Pinterest in hopes that seeing their pins will satisfy my desire to read the entire publication. 

So that's how I'm doing. The real verdict will be how much lower my credit card bill is than it has been over the past few months. How's your No Shop January going?

No Shop January 2013

Last year I decided to give my wallet a break and take on a challenge which I like to call "No Shop January". After paying my credit card bill from the holiday season, I think it's a great idea to participate in No Shop January again this year.

For me, January is one of the easiest months not to shop because I just got a bunch of new clothes and other stuff for Christmas, so I'm not wanting for much.

This year's rules are basically the same as last year. No spending on:

• Clothing, shoes, and accessories 
• Random makeup like lipstick or nail polish
• Random stuff from Target that I have a tendency to pick up when I’m grocery shopping there, including plastic containers and holiday decorations
• Sewing and crafting materials
• Tools 
• Wine or beer from the grocery store
• Fast food/restaurants when I’m eating alone
• Groupons/Living Social Deals
• Rue La La/One Kings Lane/Joss and Main/All other flash sales

I'm also making some exceptions like I did last year:

• Shopping with gift cards from Christmas is allowed.
• I can of course purchase materials and books for classes (which start at the end of January)
• The boy and I are allowed to spend money out to eat for date night, but we should try to be reasonable and also cook together at home once in a while. 
• Groceries are allowed, but impulsive purchases of craving foods when I already have perfectly edible food in my house are not allowed. 
• I am allowed to buy materials within reason for a project that I plan to at least start in January. The only thing I can think of that might apply to this right now is gold leafing, spray paint, and possibly wipe on poly.
• I am allowed to buy a pretty calendar to aid in one of my new year's resolutions (more info to come on that).
• I am allowed to buy reasonably priced baskets/plastic containers for some of the fabric and finish samples I've accumulated because one of my January projects to to get my design stuff organized. 

Strategies to see this through:

• Delete flash sale and store emails immediately.
• Plan meals better so that I don’t need to eat out.
• Start and complete the project I’ve been planning to do instead of taking on new ones.
• Write blog posts about the projects I’ve already completed instead of taking on new ones.
• Go through my closet and plan more outfits so that I don't feel the need to shop.
• Stop treating tights like they are disposable. 

I really need to get control of my spending, especially now that I am in grad school, so I may extend this little challenge into February too. We'll see how things go. My goal is to cut down my overall spending by creating better habits at the beginning of the year--something I didn't do a great job of last year. 

Just like last year, please join me in this effort! Share a link to your blog in my comments if you decide to do so. I'd also appreciate it if you grabbed a button from the sidebar to put in your post!

Monthly Challenge: No Shop January

I decided that to aid in that sometimes-lacking feeling of accomplishment that can come with my quasi-grownup state, I'm going to take on some kind of challenge each month of 2012. Today I am declaring this month No Shop January. 

It doesn’t ring quite as well as “No Shave November” (which I did NOT participate in), but that’s what I’m calling it nonetheless.

Last year my old roommate, who loved to buy super cute clothes online, decided to do “No Shop November” to accompany her boy toy’s “No Shave November” and save some much needed moolah. Well…I looked at my credit card statement last weekend and realized just how expensive December was. And I also realized how much money I spend on impulsive purchases and projects every month. I don’t think my bank account can wait until November and I really want to get better at saving, so I am holding my own No Shop January to start the year off on the right foot.

I’m trying to set reasonable terms in hopes that I can be a little less impulsive in the following months, so here’s how this is going to work: I’m making a list of non-allowable expenses and making a few exceptions so that I’m not completely devoid of a life this month.

No spending allowed on:

• Clothing, shoes, and accessories
• Random makeup like lipstick or nail polish
• Random stuff from Target that I have a tendency to pick up when I’m grocery shopping there, including plastic containers and holiday decorations
• Sewing and crafting materials
• Tools (Anything I don’t have I will borrow from my parents—who will be surprised to read this)
• Wine or beer from the grocery store
• Fast food/restaurants when I’m eating alone
• Groupons/Living Social Deals/Flash Sales

Exceptions:

• Shopping with gift cards from Christmas is allowed.
•  I am allowed to buy the blender that I have been thinking about buying for a while so that I can make green smoothies.
•  If a Groupon or Living Social deal comes up for the yoga studio that I really want to attend but can’t afford, I am allowed to buy it.
• The boy and I are allowed to spend money out to eat for date night, but we should try to use my restaurant.com gift cards to snag a good deal.
• Groceries are allowed, but impulsive purchases of craving foods when I already have perfectly edible food in my house are not allowed.
•  I am allowed to buy materials within reason for a project that I plan to at least start in January. That means I should try to use paint that I already have, but if I decide on another color that would work best, I can buy the small quantity of paint. I can also buy a new foam roller if I need one and the hardware I need to retrofit this specific piece of furniture. The key is that this project is done within reason and that I take inventory of the materials I already own before buy more.   

Strategies for seeing this through:

• Delete flash sale and store emails immediately.
• Read Living Social and Groupon deals quickly and delete them if they don’t have the yoga place I’m looking for.
• Plan meals better so that I don’t need to eat out.
• Start and complete the project I’ve been planning to do instead of taking on new ones.
• Write blog posts about the projects I’ve already completed instead of taking on new ones.

In addition to a halt on impulsive shopping, I am also taking steps to get my finances better organized. I am plan to open another savings account or two – one for short term savings projects one for long-term, don’t touch, save for an emergency savings.

I am also planning to do more structured saving. I live in a spacious house with great roommates…in a so-so location for me. It’s close to my office but not as close to Metro as I would like, and not walkable to bars and restaurants I got to like I wish it was. I don’t really want to move because our rent is dirt cheap and I like my living situation. So, to make sure I am actually benefiting from the money I’m saving by choosing to live a bit farther out of the urban areas than I’d like, I am going to start saving the difference between what it would cost me to live in one of those places and what I pay now into savings, contributing a small portion for short term and a bigger portion for long term.

And so begins No Shop January. I’ll try to keep you updated about how I’m doing, what’s tempting me, and how I’m being resourceful and using what I have to do a few projects around the house.

Oh, and by all means, feel free to join me in this endeavor! I know I’m not the only Savvy Young Something who wants to get savvier by getting her spending under control. If you decide to join, leave a comment here or on my facebook page, or send me a tweet letting me know you’re taking on the challenge!

P.S. I’ll be back tomorrow with an update on a project I took on a little while ago. Hint: It involves this pretty lady.