As of late, many knit bloggers have jumped on the band wagon of this woman and have agreed to only knit from their stash from January 1 to September 30, 2007 (if you would like to join this KAL, or just would like to know more about it, click here). I think what these knitters are doing is a noble thing. Acquiring some of the stashes that I have seen reported all over the blogasphere requires lots of money and time (two things that I don't have much of right now). The only problem that I have is this: Why does it take a more prominent knit blogger to move the masses in the right direction? Why does it take a KAL like this one to get everyone to do something different? I guess like any society, there are leaders and there are followers, and then you have the people like me I call observers. What type of knit blogger are you? Why do you think of yourself in that way? Please let me know.
I have brought this topic up because lately I've been trying to be fiscally responsible. A week ago I opened up a savings account that will be my emergency cash fund. Once the amount in that account reaches over 6 months worth of living expenses, I'm going to start aggresively paying off my credit card debt (it's not much, but I don't like having that over my head). After that, I'm canceling all but 3 of my credit cards. Two are Gap and Banana Republic cards that my mom loves to use (she has cards of her own, the accounts are just in my name and of course she pays for what she buys) and the other is a major credit card for emergencies ONLY!!! Then I'm going to put them away in my house so that the only cash I have available to me is my debit card. Once my debt is paid, then I can start saving for retirement.
Why did I just tell you guys all that? Because many of us are spending astronomical sums of money on yarn that we may never knit with. Why not use that money you would use to make a purchase for yarn you don't need and put that into a savings account or a retirement fund? You know that if you save only $14,000 from the age of 18 to 26, with an interest of 8% you'd have a million dollars in the bank by the time you retire? And by then, you can have all the yarn you want and then some!
I'm not saying that I don't love yarn. It's exciting to go to my LYS to shop for new yarn and projects, but I'm not going to let something that I do for fun make me end up in the poor house (which seems to be the case with many knit bloggers). Don't be like this podcaster who has to work at her LYS on weekends just to support her yarn habit. I love her show, but her bugeting skills aren't so hot. And did I mention that she's a lawyer? Not to say that all lawyers make madd money, but typically they do bring home some chedda (sorry, "madd" means "a lot" and "chedda" means "money")! I believe that we knitters are guilty of being too indulgent, too easily influenced, and too reckless with what we spend our money on.
Therefore this year, I encourage you guys to knit from you stash, and if you need the support of a community, join this KAL. As for me, I don't need to join this KAL because my motivation is knowing the amount of money I could save for retirement or for more important things like food and shelter.
PS: Though I'm going thru this "yarn diet", I'm still allowing myself to buy books and magazines (I'm no superwoman). And oh yes, sock yarn does count people!