The first month of our low-buy year has come and gone, and it’s time to reflect on our progress. January, with its fresh start, presented an ideal opportunity to kick off our low-buy challenge. Excitement fueled our determination as we embarked on this journey to improve our mindful consumption habits. Now, let’s delve into how we navigated our spending in January, but before we do that let’s review our guidelines:
Guidelines for our Low Buy Year:
-Use what we have first before making new purchases
-Only replace items when damaged or empty
-Dining out is ok but try to remain within the budget (target goal is $400 monthly- this will be challenging for our family)
-Prioritize purchasing secondhand items or support more environmentally friendly companies
-Allocate a clothing budget of $400 per person for the year.
-Investing in educational opportunities that bring us joy is ok
-Keep a Wishlist
January Assessment:
January proved to be a promising beginning for our low-buy endeavor. Despite the temptation lingering from holiday gifts and the enthusiasm for a new year, we remained committed to our conscious spending plan. Our total expenditure on general discretionary expenses, per our guidelines, for the month tallied up to $784.96, spanning various categories including general purchases, clothing, shoes, restaurants, and office supplies.
This month presented unexpected challenges, such as an accidental drop of my phone resulting in the damage of my iPhone case. Fortunately, my phone remained unharmed thanks to the protective OTTERBOX case, yet necessitating the purchase of a replacement one. Additionally, our family’s purchase of theme park tickets coincided with an unforeseen storm, resulting in us having to buy ponchos and umbrellas on-site to weather the unexpected downpour.
Furthermore, our expenses included purchases for our home office such as paper and a small rug for the office. In addition, we ended up dining out more often than I realized. It was interesting to see that most of our expenses came from buying lunch, we kept forgetting to make lunch before heading out to work. Despite these costs, we remained mindful of our spending and focused on our low-buy objectives.
| January – Discretionary Expenses | Notes: | |
| General Merchandise | $236.70 | new iPhone case, Amazon, Target, ponchos, umbrellas |
| Clothing | $38.75 | |
| Shoes | $0 | |
| Restaurants | $444.92 | |
| Office Supplies | $64.64 | |
| TOTAL: | $784.96 |
Note: We all added at least one item to our Wishlist.
Challenges Encountered:
While January typically offers a smoother transition into a low-buy mindset, it wasn’t without its challenges. The allure of post-holiday sales and the desire to indulge in newfound resolutions tested our commitment to this challenge. However, through mindfulness and intentionality, we were able to resist impulse purchases. However, we do need to come up with a better system for lunch meal preparation.
Strategies Used:
Throughout the month, we implemented several strategies to support our low-buy goals. Leveraging our wish list, we prevented ourselves from acquiring items we presently don’t require or may not genuinely desire. Moreover, embracing a “pause and reflect” mindset prior to engaging in any non-essential purchases allowed us to assess the genuine worth and necessity of each item.
Lessons Learned:
As we reflect on our spending habits in January, we’ve gleaned valuable insights that will guide us in the months ahead. One key lesson is the importance of distinguishing between wants and needs, while also improving our time management. Moreover, practicing gratitude for the items we already possess has fostered a deeper appreciation for mindful consumption.
Looking Ahead
As we embark on the journey into February and beyond, we remain committed to our low-buy principles. Armed with the lessons learned from January, we approach the coming months with renewed determination and focus. While challenges will arise, our commitment to mindful consumption remains unwavering. Our goal is clear: to divert resources from material possessions toward enriching experiences and savings for travel, thereby enriching the quality of our lives. With each passing month, we embrace the opportunity for self-improvement, mindful growth, and the redefinition of our relationship with consumption. Together, we embark on this journey with optimism, knowing that the rewards of conscious living far outweigh impulse purchases.