Why a shopping diet?

You might be asking yourself why am I embarking on a shopping diet if I clearly intend to continue shopping. My ultimate goal is to become more mindful about my spending. Since my high school days, I've been able to spend all my income on clothes. Now, at 27 I have other expenses and I need to learn how to distinguish between my wants and needs. I'm a homeowner and there's things that would make my home more enjoyable - new flat screen and living room rug - and it would be nice to have money saved already to make these big purchases. I guess this all relates to budgeting and that's going to be my weekend project. Stay tuned!

The Challenge

The idea of a shopping diet is something I've been toying around with for quite a long time... Almost a year to be exact. I actually planned to start in January 2010 but never fully committed to the idea and didn't follow through with the challenge.

My original inspiration was http://www.365fashionrehab.com/, because I could relate to their story - a lot of my hard earned money is hanging in my closet. However, I'm doing my own spin.

Here's my plan:

1. I will not buy anything from Lululemon for 6 months. For me this is huge! I used to work there, yet I still find myself drawn to buying the lovely stretchy pants and new clothes in pretty new colours. I've rationalized the habit b/c I spend a good portion of my free time working out (running, yoga, spinning,weights).
2. I'm going to create a realistic budget so I can pay down $5,000 of my debt by July 2011 and not incur any new debt. Basically I'm going to live within my means.
3. I've enlisted the help of my good friend Jocelyn who will act as my sponsor. She'll help me create outfits from clothes I already have. Honestly one of the reasons I shop so often is because I have trouble visualizing outfits from separates. Jocelyn will also be my advisor on reasonable purchases - so far she's ok'd light jeans and a new black blazer to round out my wardrobe.
4. No H & M. Lot's of people LOVE this store. Personally, I can't handle it.  There's too much choice, I can never find my size and I end up frustrated. I also have a bad habit of buying stuff and not wearing it for months especially if it is a "good price." In my opinion it's not a good price if I a) buy it and never wear or b) only wear it once. 

Wish me luck. I'm already almost a week in! Stay tuned for updates.