Throughout this journey of paying off my debt and becoming financially free, I’ve immersed myself in the world of budgets, investments, additions (and subtractions). Yet, not matter how much I learned about interest rate and life insurance, I’ve come to realize that it means nothing if my spending habits do not change.
After researching spending behaviors (and many youtube binges), I came across the “No Buy – Low Buy movement. Originally targeted towards makeup lovers who have drawers and drawers of makeup (also me), the No Buy Low Buy movement emerged from the need to declutter and stop spending on the want-cessities of life. Rules are simple: Only buy necessities and replacements. Use what you already have. No mindless spending. No repeats. And spend time and money on things that align with your goals.
I’ve always been a goal oriented individual, and nothing reels me in like a good challenge. So committing to a No Buy Low Buy year seemed like the perfect introduction to 2020. Here is what I hope to learn from this challenge:
Why Do I Spend?
People spend for various reasons, and I want to know what really propels me to buy overpriced stationary or makeup. Is it emotional? Is it necessity? Is it motivated by others?
What Are My “Necessities”?
Food, Shelter, and Clothes. But let’s be real: if it were that easy, I would not be in debt.
Is Decluttering Really Up to the Hype?
I have A LOT of stuff, and the main premise of the No-Buy Low-Buy year to is to discover (and USE!) the stuff you already have. So my goal is to use the stuff I already have and get rid of the things that I do not need. Mind over matter when no matter is on the mind.
Food: Friend or Foe?
I do not need a calculator or a monthly bank statement to tell me that I spend WAY TOO much money on food. I recently heard that eating out is “25% food and 75% entertainment.” Things have to change. Hopefully, with the No Buy Low Buy year, I can focus on buying the right foods to keep my energy up and keep me healthy. And really take the time to analyze when and why I eat out and who I eat out with (and if it is really worth it)
My biggest fear coming into this challenge is encountering negativity, isolation, and overall misunderstanding of why I can’t buy or participate in certain things. However, change is always uncomfortable and my current spending habits led me to debt. It’s time to be an adult and get my sh*t together. With that, here it goes. And being the chronic procrastinator I am, I am starting February 1st (because I was late on Christmas gifts and had to buy some in January)
Wish me luck.
Sincerely,
LoseLoseWin.
Lose Lose Win 