Mad Money and the Sweep

Once in a writing class, the teacher asked us share an obsession.  Her thought was things we think about often make good writing topics.  I didn't say it in class, but I obsess about money.  I don't obsess about shoes or clothes or beautifying my house.  While I might not remember how and when I acquired a pair of peach socks, I can tell you the interest rate on my mortgage (3.25% fixed) and when it will be paid off (September 2021.)

My obsession with money has nothing to do with excessive greed or frugality.  It has everything to do with control combined with my love of spreadsheets.  My interest began when my husband had sizable student loans from graduate school, and I kept track of them.  If I managed my weight as well as my checkbook, I'd be in supermodel shape.  Instead, I've used my discipline to build a decent safety net for my family and I can account for 98% of the money we spend.

I've been so frugal for so long, recently I have been experimenting to unlearn some of my frugal tricks.  This is like someone with anorexia learning to enjoy food again.  A few weeks ago, I tried an experiment, breaking one of my favorite frugal rules, the sweep, to see what would happen.

A friend of mine taught me a little trick for savings.  When she was newly married, she and her husband got a joint checking account.  Michelle knew how much was in there, and then was surprised to see it gone a few days later.  She asked her husband what happened.  At the end of the month, he "swept" unspent money into their savings where was was less likely to be spent.  Since then, I do same.  Surprise money -- birthday gifts, tax refunds, credit card cash rebates -- get put in savings, too.

This month, however, I didn't sweep the account.  We had a small bolus of extra income and I wanted to see what happened.  Would I blow it all on clothes and new shoes?  Eating in fancy restaurants?  A trip someplace exciting?

I felt rich for about a week when I saw our checking account balance, and then the novelty wore off.  Did my frugality cease?  It faded.  (Granted, it was my birthday and Mother's Day.)  I acquired two new teapots that I didn't need, but wanted.  I bought new pearl earrings to replace my old pair that I have worn everyday since I was sixteen.  I did indulge, but on things that I use or wear everyday.  I also made more charitable contributions, which kind of surprised me.  Instead of just spending the money on myself, my generosity increased.

The biggest change I noticed when I spent this mad money was I finally got around to some house projects.  I am using this money to get the exterior of the house painted and have an arborist tend to the half dozen old trees around my home.  This surprised me the most.  Feeling "rich" made me get stuff done and cross off the home maintenance to-do list.  By letting control of one area, I gained control in another.