How to Successfully Do a Low-Buy, No-Buy year

How to do a low buy year

Are you in credit card debt? Maybe an emergency savings fund that is closer to zero than the recommended six months’ worth of expenses? It doesn't matter what your financial status is, you can use a zero-buy or low-buy year as a way to start your financial journey.

Simply telling yourself that you will cut back on your spending doesn’t usually accomplish much. To really spend less, most of us need some guidance, and that’s where a no-buy year or low-buy year comes in.

If you follow the steps laid out below, by the end of the year, you’ll be wondering where all your extra money came from (hint: it came from not shopping!).

Which year is better: No-buy or low-buy? What’s the difference?

Both the no-buy-year and its cousin, low-buy-year, can be used to reduce excessive spending. A no-buy year requires you to pledge not to buy anything new and only keep what you have. All Spending for the whole year

The only thing you should buy is the essentials: groceries, personal hygiene items, and toothpaste. Mascara, however, will not be accepted.

The low-buy-year is an alternative to the no-buy-year. You don't have to cut out spending. Instead, allow yourself some shopping. Although you create rules you must adhere to, they allow for some flexibility.

You might, for example, allow yourself $100 to buy clothing or go out one month in a low-buy season. During a strict, no-buy year, these purchases wouldn’t be allowed.

You might consider a zero-buy-year or low-buy-year. If so, you’re going to need to put in place some rules. The no-buy rules are simple: you don’t buy anything other than the necessities. The low-buy year is a little more complicated, so we’re going to talk about how to do it successfully.

We’ll discuss how to create your own rules, arm you with some success tips, and offer some alternatives to a low-buy year. If you’re not quite ready to commit to a whole year just yet, there are other ways to do a version of the low-buy year, which we’ll touch upon, too.

Creating your low-buy rules

Once you’ve decided you’re going to do a low-buy year, it’s time to get down to business and create your rules. One key factor to having a successful low buy year is your ability to create your own rules. Here are some tips on how to create rules that fit your life and that you’ll actually be able to follow:

low buy rules

1. Make a list of all your purchases

Start by taking stock of your current spending habits. Add up all your expenses, including cash expenditures and credit card statements. By knowing what you spend money on, you’ll see what you need to cut back on.

You might want to make a limit on how often you order takeout. For others, ordering take-out might not be a spending problem, so a rule limiting it wouldn’t be very helpful.

You might be like me! These people might benefit from stricter clothing spending limits. Every person is different so it will help to know what your spending habits are to create the best rules. You.

2. Pick your categories

Once you’ve figured out what you tend to spend on, decide on the categories you will create rules around. Do you want to limit clothes shopping, fashion groceries, delivery orders and miscellaneous Target purchase, as well as makeup or beauty hauls?

Again, these categories will be different for everyone, so it’s best to get a clear picture of your own spending so you can create your rules.

3. Anticipate future spending

It is an excellent place to begin. You must look ahead to your next spending to ensure a low-buying year. You can take out your calendar and see the events and holidays coming up.

What events involve spending money? There are many events, such as Christmas, birthdays and weddings that require some financial investment.

Whether it’s a holiday present or a new outfit for yourself, estimate all of the events you anticipate spending money on. By arming yourself with that information, you’ll be able to create rules around those events.

If you buy Christmas gifts for your nephews and nieces every year, but don't have the budget, it might be a wise idea to limit yourself to $10 per child.

You could also decide to send only handmade cards this year. You don't have to spend a lot of money on holidays or events. Just think outside the box and be a little more inventive.

4. Create simple, clear rules

This is perhaps the most crucial step. If you want to do a successful low-buy year, don’t make any of your rules overly complicated or confusing.

Make sure they are crystal clear and don’t leave you any wiggle room for extra purchases. It is important to know exactly what your budget allows you to spend on during low-buy years.

These are some rules that you can use to help get started with a low-buy year

Now that you’ve gotten the idea of how to create your own low-buy rules, it’s your turn to put these tips into practice. These rules can be customized to suit your needs. However, if you need some ideas, these are great low-buy rules others have used with success.

Kleidung

There will be no new purchases throughout the year. Although this is an extremely strict rule, most people have enough clothing to last them a whole year.

You can limit your purchases to only replace certain items if you wish. You can also limit your clothing purchases to start a low-buying year.

Beauty products

Vow not to purchase any replacements for your beauty products or personal care products. You can even go further and vow not to buy replacement products if yours isn't on a small (pre-approved) list. You can also try a minimal skincare routine.

Dining out

No more than one restaurant or take-out meal per month. There are no exceptions. It means that apps (and tablets!) must be deleted and you should also get rid of any convenient restaurant menus stored in your kitchen drawers.

Give the gift of love

This year, make homemade cards and gifts. Only use materials you have. Even better, give your time rather than spending money.

There are many things you can do with your time: pet sitting or house sitting, babysitting, business and home tasks, etc.

What you can do to make your year low-cost?

With your rules laid out, you’re now ready to begin your low-buy year! In the beginning, it’s exciting to think of how much money you’ll save.

It can be scary, however. What if it doesn’t work? You make mistakes or quit. Luckily, there are ways to guarantee a successful low-buy year, so don’t worry, you’ve got this!

Low buy year infographics

1. You must decide what your reason is

First decide why you want to do this low-buy challenge. You’ll need the motivation to get you through the tough times when you want to cave in and just go shopping already.

Do you feel driven to pay off your debt and move into a better apartment? Are you concerned that all of the money you’re spending on Fast fashion can be damaging to your wallet and the environment. environment?

Whatever the reason, decide on your “why” for embarking on a low-buy year and turn to it whenever you need a little motivation.

2. You can do it together with your friend or partner

You can get a friend, a roommate or ally on the board. A second person can help. Hold you responsibleIt will bring you together and encourage you.

If your partner doesn’t want to participate themselves, try to get them on board with your rules. It is particularly important to get your partner on board if you have low-buy rules that require you to reduce grocery spend or other household expenses.

3. Get started with a gratitude practice

If you don’t already have one, develop a gratitude practice. A gratitude practice every day will help you remember all of the good things in your life. Do You can find it here You will be less inclined to want to shop and go out to get fulfilled..

When you have a low-buying year and your goal is not to spend as much, it is crucial to be grateful for all that you do have.

4. Beware of temptations

You get emails after email from stores offering you discounts or the latest products. Unsubscribe to all of them if you do.

Don’t worry, these places will all be around when your low-buy year is over, so you can always re-subscribe then (but you might find yourself no longer feeling the urge to online shop after the year is over!).

Also, don't keep your credit card number in memoriam. Ask for a fresh one. You can put up as many roadblocks as you like to stop yourself from buying unnecessary items.

Perhaps you find yourself looking at haul video after haul clip on social networks. You might want to cut down on the time spent on social media and instead find more productive activities.

5. Spend your free time doing something else

Lastly, remind yourself of what you like to do that doesn’t involve shopping or spending money. We shop to fulfill a need, or get a rush.

But there are tons of things that are just as fun and don’t cost anything. Reading, catching up with friends, baking, watching Netflix – all of these things are almost free, and you can still enjoy them all during your low-buy year.

There are alternatives to low-buy years

You might find a year with low buys intimidating or too difficult to handle. If this seems too far away or too daunting to consider, you might start with a small-scale low-buy quarter, month or week.

Sometimes it’s better to start small and build on that, especially if you’re a big spender or To soothe your soul, you can rely upon retail therapy.

Start small with a low buy week, low-buy monthly, or low purchase quarter. You will be able to start to spend less and not have to fully commit to the whole year.

You can also revisit your rules and revise them before continuing for another week, month or quarter. Maybe you'll be ready for an entire low-buy-year by the end of your short challenge!

Do you want to try a low-buy week, month or quarter?

If a low-buy year (or no-buy year, if you’re really up for a challenge!) It sounds great for you and your wallet, so why not give it another shot?

Get out your pen and paper, spend some time coming up with your rules, and you’ll be ready to start your journey in no time. Best of luck.

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