Have you ever considered a Low Buy or No Buy year to curb your spending habit?
In 2022, I went 100 days without buying any material items. Except for a few clothing pieces for my kid’s Easter baskets, I purchased nothing for our home or myself.
It took me about six weeks to feel like I didn’t have the itch to purchase things and about eight weeks to feel content and happy with the things I did own. By the end of the year, I had fallen into my old spending habits again and was spending lots of money leading up to Christmas.
This year I wanted to try a different challenge. Something that I could commit to for a year. Considering how everyone on the internet is doing a No Buy Year, I jumped to that first.
After some consideration, I decided not to cause suffering.
No Buy Challenges are hard to complete. During my 100-day challenge, I second-guessed myself all the time and would beat myself up about being in some imaginary guidelines. On the other side of the challenge, I realized I was more intentional with my spending because I was limited in what I could buy.
Now in 2023, I am going to complete a Low Buy Year. I have set up my guidelines and No Buy Zones to get more intentional with what I bring into my home.
Here are five tips to help you succeed in a Low Buy/No Buy Year.
Consider Your Why and Revisit It Often
As I have mentioned, a low buy/no buy year is a challenge. So if you plan to do one, you need to have a good reason to do it.
Ask yourself, what will I get from a challenge like this? What kind of outcome am I looking for? Who else will it affect?
My why is threefold. First, to keep an influx of things from coming into my home, to put money towards experiences and investments, and to gain a sense of gratitude and contentment for the things we already own.
Because I know why, I can purchase intentionally without guilt to keep track of things. I will list everything I buy each month in my notes app.
You may want to try something similar. Set up a daily message on your phone, or attach and affirmation to your fridge to remind your self that this is important to you.
Set-Up Guidelines
In this step, we think of our biggest triggers. For example, it was easily clothing at one point in my life.
I always wanted to dress to impress because I thought it would make people like me or that I would fit in with the others around me.
What I learned was most trendy clothing never fit my too-small frame. When I realized my style and what I felt good in, I created a capsule wardrobe and never looked back.
For you, it could be planners, daily coffee, or shoes. Currently, I struggle with books. Therefore, my guidelines for this Low Buy year are: For every ten books I read from my bookshelf, I am allowed to buy another.
I made an exception for my Birthday last week but will be sticking to this guideline so that it forces me to read what I own before adding more to the collection.
Here are some other guidelines I will use:
- Create a budget for certain groups of items. It will be hard not to buy any clothing for the entire year. While I am prepared to do just that, I have set aside $300 for any pieces that may need to be replaced or should I want to add to my wardrobe.
- Shop second-hand items first. We got into thrifting this year, and I have been pleasantly surprised at what you can find in the thrift store if you have patience. I spent about six months last year looking for a white plate set I liked. I was in no hurry.
- Attempt to Make or mend things. I already make some products at home, including shampoo and body cream during winter. In addition, instead of throwing away things when they get a hole or are overly worn, I plan to mend them. Youtube is a great resource that helps you repair items so that you are not constantly buying new ones. (I know what you are thinking, “I don’t have time for that.” Maybe not; however, if you aren’t shopping or returning what you’ve already bought, you may find that you have more time than you think
- Keep gift-giving mindful and straightforward. Everyone has something they are good at cooking, crafting, sewing, candle making, or photography. We don’t always have to gift tangible things. Sometimes we can give our services. For example, people would much rather have free babysitting services or a home-cooked meal if they can do those things. Because I can sew, I want to handmade a few gifts this year. It will allow me to use some fabric and spend time connected to a hobby I enjoy.
- Use up what I own. The one thing I have plenty of is hand soap. I have a thing about quality hand soap, and I buy a few on sale during Christmas. This is in addition to what I own before the Holiday season approaches. I will not buy anymore until I’ve used up what I own. That goes for any other makeup, detergents, hair care, and vitamins I own.
- Create a no-buy list. There may be a list of things you will not buy this year. For some people, it’s plants; for others, it’s booked. For others, it’s clothes. You already know what you own too much of. With that said, I initially declined to buy any books. Then I made an exception for books related to my craft. Then I realized I was making all kinds of excuses. I finally settled on allowing myself a new book after I had read 10 of my own. This feels reasonable to me. When creating your list, make sure it’s suitable for you.
Decide your timeline.
Decide when you want to start your Low Buy/ No Buy period. It doesn’t have to be a year. You can participate for a quarter or half a year.
You also do not have to start your Low Buy, No buy year on the 1st of January. You may choose to start on your birthday or the day after Christmas, or on a random Tuesday.
The best part of this is not feeling like you have to fall into someones else’s rules. The only rules that matter are yours.
I decided on a year after completing a 100 day No-spend Challenge at the beginning of 2022. By extending the challenge to a year, but allowing myself to a low buy year I am able to keep my
Grab an Accountability Partner
Either way keep and accountability partner close for success.
Eliminate Temptations
Are you subscribed to several sales list? Take a moment to unsubscribe from any emails that will tempt you to buy.
Spend less time on social media, where are all the ads are curated just for your needs.
Stay out of malls and away from any online stores. Delete apps from your phones.
Create a list of other optional activities to do other than shop. If you’ve used shopping in the past as a way to soothe yourself, you are going to need to replace this habit with another activity.
Finally…
If doing a Low Buy Year seems daunting start really small with a No Buy/ Weekend. If those continue to go really well, go for a Week, then a month. No step is too small toward creating a mindful spending habit.
