The first time I heard about someone doing a spending freeze I reacted like any normal, slightly sarcastic, 24-year-old critic would. I muttered, “Yeah, that will end well” and threw in an eye roll for good measure.
A spending freeze (or, as some call it, a spending fast) is similar to the Atkins diet, except instead of cutting carbs, the participants cut out all non-essentials. No movies, no morning lattes, no dinners out, no happy hours, no cable, no new clothes — the list goes on and on. Money is only to be spent on what it takes to keep the lights on and food on the table. The cash one saves goes towards debt repayment or fattening a savings account.
To me, a spending freeze sounded akin to a yo-yo diet. It also conjured up images of Oprah’s “wagon of fat” (even though that episode aired a year before my birth). My first (strong) instinctive reaction to the concept was that people resorting to such extremes with their finances were setting themselves up for failure. It seemed only logical that periods of deprivation would lead straight back to bouts of fiscal gluttony.
Perhaps I Was Wrong
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