No need to say that 2020 was a test for all of us and might have affected some of us financially. It might have messed with your saving goals or you might have found yourself spending a little more in areas that you didn’t before. I’m usually really good at trying to live a low budget life (this has taken many years of practice) but I found a few places I could improve on in my personal life that I wanted to share in case you’re looking to also try to implement a low buy year.
- Budget- Overall, I give myself a yearly budget on what I’d like to spend on certain things that I think are coming down the pipeline at the beginning of the year but of course as the year continues more things may come up. I want to get better at tracking everything I purchase, keeping to my budget and be open to readjusting when needed. Gotta keep my eye on the prize!
- Purchase Second Hand– We already know how purchasing second hand is very important for the environment but it also save you major bucks. Aside from clothes I also want to try to purchase home décor, kitchen items, etc. second hand when possible. I honestly have had fun looking at how cheap I can find so many things at the thrift store, ThredUp, Poshmark, Ebay, and Facebook Marketplace. There really is no reason to ever buy anything full price in this day and age.
- Order or Eat Out Once a Month– Like many I wanted to do my part and support local restaurants when the pandemic started and not having to cook and being able to pick up food was the highlight of our week since we weren’t going anywhere or doing anything. But it is time I cut it back and return to my usual rule of only ordering once a month and making it more of a special event vs 4x a month, because that paper adds up.
- Borrow– It is very easy to think that if you don’t have something that you need to buy it but it is also wise to stop and think how many times you may use it and where you might store it. If you don’t see yourself using it often or it just taking up too much space then it is time to consider asking someone to borrow that item.
- Wait on BIG Purchases– I am going to place my big threshold at $60 and over for one single item. I rarely ever spend this on just one item so this seems like a fair number for myself to stop and give myself some time to consider if I actually do want to purchase it and if I can find it for a cheaper price. I have learned that sometimes I want the new big shinny thing but if I wait then sometimes I realize I don’t actually want it anymore and it ends up saving my wallet big time.
***A few bonus rules***
Extra Cash– As I declutter I will try to see if I can sell any of my items and use that money towards ordering carry out once a month or buying something that is on my list. This way I’m not using any of my personal funds that I already have.
Gift Cards– If I do have something on my list, I will look to see if I have any gift cards that I can use first so I’m not using my own personal funds. (insert meme of man pointing at his head indicating smart move, lol)
I hope this helps anyone who is also looking to have a low spend year even if it is in just a small area in your life, having a low spend budget can help you big time in the long run.
Snapshots by Halee Rene Photography
As always, thank you for reading. Como siempre, gracias por leer.
