Consider Making 2022 Your "No Buy" Year

 

A life changing experience…

My friend Adriane just purchased a new pair of jeans.

What’s so special about that? Those jeans represented the successful completion of her “no buy” year.

She shared with me some of the lessons she learned from a year of buying almost nothing.

Her main motivation, if not her ONLY motivation, was to save money.

When we went into the first lockdown, it was pretty obvious that, sadly, she might be losing her job. She wanted to protect herself as much as she could from potential financial ruin. This is when she came up with the strategy that, if she could get herself to the point where she could save fifty percent of her take-home salary, then for every month that she did that, she could almost buy herself a month of being out of work. She wanted to make sure she was OK if the worst happened.

Her “no buy” rules were pretty simple. She could only buy things that she absolutely needed and she did not allow herself to buy things just because she wanted them. Over this past year, she purchased food but no take-out, no fast food and no meals out. She did buy cleaning products and personal care/hygiene items that had run out. This means she could not buy a new shampoo because she wanted one — only when she had run out.

The Lessons

One of the biggest lessons was to be aware of impulse purchases. She realized how many things she was buying that were nonsense — those little impulse purchases. Even though she had been on an aggressive saving plan to be able to buy a house, by not spending in other areas, she managed to save an additional $300 per month. This was a big motivator from the start.

Buying things never really works. It just distracts you from the feeling at the time.

Feelings cannot be fixed with things. Many of us shop to distract ourselves from how we are feeling. Feeling sad? Buy a new outfit. Don’t feel pretty? Buy some more make-up. Feeling bored? Go on your favorite website and see what you can buy. The last couple of years have been filled with many unpleasant feelings. But there is really nothing any of us could have purchased that would have fixed any of that.

She admits that there is nothing really wrong with owning things or with shopping — only that now, when she finds herself shopping, she will ask herself if she really needs it. She will ask if this item will bring any kind of value to her life. If it it doesn’t fill anything, then it’s probably best to step away and deal with those feelings in a different way.

Saving money has lots of benefits over owning things.

Aside from having an emergency fund when you’re self-employed, having a “no buy” year has gone over and above having to replace the washer machine if it breaks. It offers a much greater sense of security.

Adriane states that, if she were to lose her job tomorrow, learning to live within her means would lessen her worry and anxiety.

Secondly, it offers you a much greater feeling of control. If you’ve saved money and you find yourself in a job you’re not happy with, you would be in a position where you could potentially say “up yours” and quit. Even though you might never do it, knowing that you could makes you feel less trapped.

Thirdly, it gives you options. Let’s say an opportunity came your way but it would mean that for the first year you would earn a lot less. You might decide, if you’ve saved your money, that you could take that opportunity and pursue your dreams.

If you get used to saving money and you get used to living with less, you might be able to take a lower paying job and spend more time with family or doing what you love.

Staying away from social media helps. When you don’t concern yourself with what other people have, and what other people are doing, then you’re much content with what you have and what you’re doing. You don’t need to compare yourself and that leads to less shopping and more happiness.

Adriane says that if she were to decide to do another “no buy” year, she’s fairly confident that her shopping will be fairly minimal. No one knows what could happen in the coming months. These really are unprecedented times.

During this past year, by doing the “no buy”, she ended up saving Sixty percent of her take-home salary. She would never have even thought that it was possible to do that. It certainly has changed her relationship with money and shopping forever. A life changing experience for sure.