Introducing The No Buy Year 2020
When I started my graduate job, I had big dreams. These dreams included a zero based budget and savings goals that in hindsight were slightly unrealistic and didn’t allow for me to purchase anything outside of the bare bare basics. But this year and 3 months into a new job, I’ve made it my new year’s resolution to pursue something of a no buy year. So here’s how it’s going to happen.
About two years ago I discovered a blog by Cait Flanders which focused on her detoxing shopping and all things consumerism - where she started a no buy year with self-imposed rules and limits to not only curb her spending money but to also face a few other issues in her life. Her rules included: no buying anything new other than essentials and approved items (unless it was a replacement), no takeaway coffee and no excessive purchases. Needless to say, I was inspired and decided to fully embrace it this year.
Allowed purchases:
groceries and basic kitchen/cleaning supplies (but only to replace, not in addition to)
basic makeup (only mascara as I have plenty of everything else)
toiletries (but only if I have no alternatives)
a monthly experience (I’ve imposed a financial budget to this which could go towards the cinema or eating out)
Not allowed to purchase:
Clothes (this will be tough!)
Makeup
Skincare
Stationery
Household decor
Tech/accessories
Books and magazines
Mini supermarket shops (unplanned) & takeaways
The list is not extensive but it’s good for my lifestyle and includes some important points that I’m keen to properly embrace. The biggest difference between mine and Cait’s is the inclusion of a monthly experience. Whilst I’m using no buy year to save money, it’s important that I don’t restrict it to a crazy level that takes the joy out of life as spending time with family and friends is really important to me. The monthly experience is really important to me as I don’t want to alienate or cut out friends. I’d also like to add that if in the unlikely event that I have plans to eat out multiple times in a month, this will be deducted from my food budget so should balance out.
The list obviously doesn’t include rent and bills, but those will be paid for as well.
After reflecting on these rules, I genuinely think the biggest thing will be cutting down on all those mini food shops (Tesco express and Co-op, I’m looking at you), that are only £15 but add up. I’ve recently started a new role in events and found I was so tired from work, that I was just ‘nipping in’ but would let tiredness fuel my purchases. And this all added up (and has left me with a bizarre surplus of food in my freezer…). Aside from this, it’ll be restricting clothes purchases as I without fail suffer from seasonal FOMO at the start of Summer. This will be really beneficial not only to my bank balance but for myself as it’s a good boundary to overcome - and for the realization as to why I’m actually getting that FOMO.
The list may seem a bit tight and strict, but I am in a fortunate position where I do have a lot of makeup and beauty products from my old job and through this blog - but that so far hasn’t stopped me…
The plan from here on out is to post weekly updates a la Refinery29 Money Diaries, but focusing on what I’ve spent/thought processes behind spending. I’m also considering setting up a Facebook group if people are interested in that? Let me know! I’m also going to start sharing a bit more on my instagram page, including some graphics for instagram stories if you want to give me a follow!
Have you got any money related goals for 2020? Have you ever tried a no buy year?