With a lull between the winter holidays and tax filing, now is the ideal time to take a spending hiatus. Here are two areas where you can dramatically reduce discretionary spending for four weeks:
• Food: Cut your grocery bills by using what you have. Sound silly? Take stock of your pantry and freezer and get ready to be shocked at all the forgotten fish sticks, rice and tomato soup. Plan meals around those items. Dining out is out; packed lunches are in.
Also, look at the weekly supermarket sales fliers. After your hiatus, can you make a habit of stockpiling sale items?
• Clothing: Buy no clothing, even if it’s on sale. Buying clothing on sale doesn’t save nearly as much as not buying it at all.
Also, visit a thrift store or consignment shop to see what’s available. Is there anything you could see yourself wearing? Can you buy higher-quality used clothes than you could afford to buy new?
