A Low Spend Year

I’ve been known to do no-buy months or seasons in the past. I have experimented with spending bans, capsule wardrobes, shopping my own closet, and numerous clothing and spending challenges in order to practice appreciation, save money, live more minimally, decrease debt, and live a life with more aligned values. But a low spend year? I haven’t tried that one until now. I’ve been contemplating the idea of a no buy year, but with our recent move and a few items admittedly on my wish list, I’ll honestly admit that I’m not ready for that leap just yet. However, a low spend year is something I’m determined to do this year. Maybe after reading my own reasoning you might want to join me too.

We can all agree that this pandemic has impacted our spending habits in some way. You might spend less in some areas and more in others. I’m not exempt. For the first time in forever I bulk bought certain pantry items (not toilet paper, I promise!) in case of an unplanned quarantine, and a good thing too. We’ve been unexpectedly quarantined a couple of times now and thankfully we were prepared with some frozen foods, canned soups, rice, pancake mix, oatmeal, and other pantry essentials that got us through a couple weeks without having to go out to buy groceries. I spent way less on food and activities out and I definitely decreased my shopping. With less photography opportunities I spent much less on digital necessities for my business including hard drives and memory cards. But then we also bought a portable kayak (no regrets!) and things like puzzles, magazines, books, and camping accessories for our car camping adventures this summer. Then comes the worst of my pandemic shopping; I scrolled online a whole lot more than I anticipated and I did not come out unscathed. -I bought a face mask that I love to use, makeup I didn’t need, hair gel that ended up not being the best purchase,  and I shopped for more clothes than I needed. Yup, it happened. This simple living, minimalist inspiring girl bought clothes online. Chances are, you might have made some online purchases yourself.

There is nothing wrong with making occasional purchases of course, but when does it get out of hand or become a habit? That is what I want to know. Since when did scrolling through “new in” categories of my favorite sites become a ritual? Extra time, boredom, anxiety, stress, depression, and any number of things can cause us to pick up maladaptive habits like overspending. For some, it turns into a bad coping mechanism. I don’t think I am there yet, but I have noticed I have been using some scrolling and shopping as a balm for anxiety or as a way to daydream about better times ahead.

Reasons why you may want to do a low spend year:

• To save money
• Pay off debt or prevent going into debt
• To treat the planet with more respect
• To reduce waste
• To prevent shopping from becoming a crutch
• To break bad habits
• To practice gratitude
• To “buy” back your time
• To realign your values

Have I missed anything? Tell me your reason for a low buy year in the comments below.

I’m really looking forward to this low spend year because I want to shift my focus to more outdoor activities and creative crafts this year. I would like to allot more of my funds towards savings and activities that bring me joy. I am also hoping that this low spend year will buy me more time to spend outside, to write letters to friends that I miss during the pandemic, and to get back in touch with my creative side through tying new recipes, cross stitching, sewing, and other artsy endeavors. And like always, I am also hoping to minimize my environmental impact and practice gratitude.

How To Do A Low Buy Year:

• Create a budget
  • Know how much you are willing to spend this year. How much of an allowance do you want to give yourself every month? Every week? How much will you allow yourself to spend on business or work supplies? Hobbies? Clothing? Food? Activities? Travel? Make categories for yourself and stick to your budget.
  • Leave extra room in your budget for unexpected expenses such as sick days from work, medicine, doctors visits, vehicle repairs, etc.
  • Create a savings plan. Now it is time to create a concrete plan for savings. How much do you want to put into your savings account every week or month? Can you set up automatic transfers to your savings account? How much do you want to invest or put into your retirement? How much per week or per month are you going to spend on paying down your debt? Put all of it in your plan.
• Recognize the difference between needs and wants.
  • There will be things that you will have to buy this year. It could be new work shoes after yours wear out, parts for your car, business or school supplies, home repairs, and food. If it is essential for your wellbeing, safety, warmth, and health then it is a need.
  • Know when you’re getting a case of the “gimmies.” I call wanting things or even greed a “case of the gimmies.” We see an ad and all of a sudden we need that thing or a friend gushes about a new accessory she bought and we feel like we need it too. Those are not real needs. We might not even really want them except for in the moment.
  • Know that real wants are ok with moderation. It is ok to want things. It is human even. As long as we are being reasonable, it is alright to purchase wants. The way I determine if it is worth a buy for me is if it follows a certain level of criteria:
    • Do I really love this item?
    • Have I wanted it for a while or is it just a passing fancy?
    • Will I wear or use this items a year from now? Five years from now?
    • Do I want this item for real or do I just want to fit in, feel better, or look a certain way?
• Create Your List:
  • Make a list of items you really have to buy this year. It could be home repairs that cannot be put off, essential auto repairs, essential furniture that you have been needing for a while, cookware, health supplies such as important supplements or even fitness equipment, business supplies, school supplies, or replacements for important items that have worn down or have been broken beyond repair.
  • Go ahead, make your wish list. But be warned that this shouldn’t be an endless list or a list that continues to grow. Add a few really wanted items to this list and then stick to it. You will be tempted to add to it throughout the year, but you will have to stick to this list and add nothing else. I know it sounds daunting but you can do it. Think seasonally about items that you really want for yourself this year for spring, summer, autumn, and winter. It could be for a hobby, trip, or activity. It could be seasonal clothing items that have been on your wish list for ages. Remember, your goal is not to go out and purchase all of these items. This is not an excuse to shop, but we can make a few allowances for ourselves throughout the year for enjoyment. This is a low-buy, not a no-buy year after all.
• Reduce Temptation:
  • If you’re still going out and shopping in person for items other than groceries, it is time to stop. During a pandemic you should do your best to limit shopping trips as well, but to stick to your low-buy goal this is the golden rule.
  • Stop looking at online shopping sites, weekly sales, and catalogues.
  • Unfollow or mute online social media pages or people that promote endless shopping or tempt you to over-buy and over-spend.
  • Unsubscribe from e-mails that promote products and services.
  • Practice appreciation for what you already have.
• Focus your energy elsewhere:
  • If shopping has become habitual, try to switch up your habits. Exchange reading blogs, articles, or even creating Pinterest boards over browsing online shops.
  • Instead of shopping with friends, swap it for getting coffee together, going for a hike, doing a hobby together, or watching a movie.
  • Shopping is not a hobby. Fill that “void” with a real hobby such as a craft, sport, game, or another activity that you can do at home or close by.

In case you’re curious what is on my own list, I thought I would share my list for the year for full disclosure:

Needs: Fabric to make curtains for the apartment windows, vehicle oil changes, lamp, guest room bed and mattress, a couple pairs of nice flats for work,  hard drive for photo backups, Love Wellness monthly subscription, face masks for work, socks

Savings: $50 a week automatically into my savings account

Debt: Pay off final credit card payment, monthly student loan payments (pay off extra if I can)

Wants: Fabric and supplies to make a reading tent, house plants, rug for kitchen, crock pot, tile stickers for kitchen, linen pinafore apron, floor length mirror for dressing room, In The Moment Magazine, Shine App, outdoor gardening supplies, clothing rack for dressing room, a couple romance novels on my wishlist, pair of high waisted light wash jeans, floral top, yellow cardigan, floral sundress, blue gingham top, Breath of Youth dress, a lime green sundress, nordic knit mittens, Pride and Prejudice dress, a cross stitching kit, sewing materials, vintage Vicky Barr books (#4 and #5 in the series) , and a vintage Gladys Taber book (or two).

If you too are planning on a low spend year, I would love to interact with you in the comments below. You can also follow my journey at @livelovelytravel on Instagram. I am hoping for a slow paced, grateful, and creative year. Wishing you all the best.