Our family of 3 has decided that 2024 is going to be a low-buy year. This decision wasn’t made lightly, but we believe it aligns perfectly with our values, goals, and aspirations for the year ahead. In this post, I’ll share with you what a low-buy year means to us, how we plan to stick to it, and what you can expect from our blog in the coming months.
For us, a low-buy year is more than just budgeting; it’s about intentionally allocating our resources in a way that prioritizes experiences over material possessions. It’s about setting our rules and boundaries based on what matters most to us – whether it’s saving for the future, reducing waste, or simply living more intentionally. It also means you set your own rules for your values and lifestyle. So, if you need a small budget for small pleasures such as coffee or tea, incorporate it into your plan. But remember you have to follow the individual rules that you set at the beginning!
So, what does our low-buy roadmap look like? Well, first and foremost, we’re focusing on essentials. This means limiting our expenses to regular monthly bills and necessities like groceries, utilities, hygiene products, and medications. Beyond that, we’re allowing ourselves a small budget for occasional treats—whether it’s a nice meal out, a new piece of clothing, or a weekly ice cream date. But, crucially, we’re sticking to the rules we’ve set for ourselves, ensuring that every purchase aligns with our values and goals.
As a family, we’ve decided that experiences hold far more value to us than material things. Whether it’s exploring new places, trying new activities, or simply spending quality time together, these are the moments that enrich our lives and create lasting memories. And it’s this focus on experiences that have driven our decision to embrace a low-buy lifestyle.
So, with our game plan in hand and our sights set on a year of mindful spending and enriching experiences, we’re ready to kick off Operation Low-Buy. We’ll be documenting our journey every step of the way, sharing our successes, challenges, and everything in between. So, stay tuned for updates, tips, and insights as we navigate this exciting new chapter.
Here’s to a year of intentionality, mindfulness, and meaningful experiences. Let the adventure begin!
Welcome to our Operation Low-Buy Game Plan:
1. The Necessity Inventory, One Room at a Time
Conduct a quick comprehensive assessment to distinguish between essential and non-essential items in each room of the house. Remove non-essential items, place them in a storage bin for later evaluation. Don’t rush out and buy more items for this room. Live in the space and decide what you really would want or need to make this space more enjoyable for you. Write your ideas down. Remember to prioritize needs over wants, ensuring that only the essentials remain in your possession.
2. The Temptation Shield
Institute a 24-hour “cooling off” period for non-essential purchases. This deliberate pause allows for thoughtful consideration before committing to any expenditure, minimizing impulsive buys. Tell yourself – Let me add it to my Wishlist. Yes, your Wishlist (because we all need to have a Wishlist). We all have birthdays, and there’s Christmas or other special celebrations when this list comes in handy.
Having a Wishlist is the best trick my brain needs. Every time I’m tempted by an impulse buy, I write it down. When your husband, parent, kid, friend, or sibling asks what you want for your birthday, pull out the list. If you still genuinely want something from the list, give them a few of those options. It’s a win-win for all. If you have kids, they’ll love creating a Wishlist too.
Also, remember our consumer culture will tempt you. Therefore, unsubscribing from email lists, spending less time on social media, and avoiding the mall will help you avoid unnecessary temptations during this year.
3. The Budget Roadmap
Establish a realistic budget that aligns with your financial goals and track expenses. This not only guards against impulse buying but also serves as a tool for allocating funds. Even if you think you don’t spend much money on random Amazon purchases or on shoes, you may be surprised how they slowly add up.
Establish specific goals, such as allocating an annual budget for clothing. In our household, we have set aside $100 for each season, totaling $400 per person annually for clothing. Recognize your priorities, and if certain expenses, like your gym membership or daily Starbucks coffee, play an important role in your overall well-being, continue with these purchases.
4. The Online Purchase Pause
Exercise caution when navigating online shopping platforms, especially before making any one click purchases because you see the item is 20, 30, 50, 75% off. Try not to visit online stores, unless you know specifically what you want. If tempted by other items, pause to evaluate the necessity of the item, and add it to your Wishlist.
5. Create and Sign a Low-Buy Year Purchase Pledge
Create your own Low-Buy Year Purchase Pledge and post it somewhere you can see it daily. Prioritize mindfulness in every purchase by committing to considering the genuine necessity of an item you want to purchase. Ensure the purchase aligns with your needs rather than an impulse random want. Remember, it’s about creating a simpler, more intentional lifestyle that brings you long-term value and joy.
6. The Accountability Team
This operation isn’t easy, so it’s time to come together as a family (or choose a teammate) and be each other’s accountability partner. Keep track of your weekly or monthly progress and share it with each other. Make it a game and celebrate your small milestones along the way.
These are some items that you may frequently overspend on or impulsively purchase, and having an accountability person could help:
- Apparel
- Footwear
- Technology Services
- Dining Out
- Home Décor
Remember, when you start this journey, you will start to challenge your relationship with stuff, your definition of what you need, and you’ll be more aware of external influences that pressure you to buy items you may not need or want. While the whole concept may seem foreign or restrictive at first, it’s a chance to reframe your relationship with stuff and your personal spending habits. It’s an opportunity to think differently and learn more about yourself. If a year is too long, you can do it any period you want but I would highly recommend you don’t do it for less than 3 months to really embrace the experience.
Join us on this journey, led by thoughtful decision-making, fiscal responsibility, and the commitment to refrain from superfluous purchases. Share your story with us.