As we head into a new year, and in the spirit of starting new habits, I will be participating in a low-buy year. You might be asking, what is a “low-buy year?” Well, I recently did a lot of research to discover that it’s a way to eliminate excessive spending.
Now, it’s no surprise that I tend to overspend (a lot), especially on clothing. The past few years, I’ve been making efforts to spend less, using what I have, and living more of a minimalist (at least for me) lifestyle. That’s why when I found out about having a low-buy year, I’m decided to give it a try.
Now, I always feel that budgeting and lifestyle changes are very personal and should be treated in that fashion. When coming up with my own rules for my low-buy year, I considered my current spending, goals, and what I know about my current habits.
Why Have a Low-Buy Year
Why do I want to have a low-buy year? For me, it’s part of a practice to be a more conscious shopper. I’ve been working on my spending habits for the past 3-4 years, so I thought this was a great opportunity to continue my journey and improve my habits.
My Low-Buy Year Criteria
Now, most people set up rules, but being the true rebel that I am, I don’t like the word “rules.” So I decided to set up low-buy criteria.
Clothing
- Only buy wardrobe pieces from my personal style shopping list
- Before buying new, attempt to find item 2nd hand
- Monthly spending budget $100
- The monthly budget will roll over if not used
Beauty/Skincare/Hair/Supplements
- Use the products that I currently have first
- Only buy replacement products
Food & Entertainment
- Eat out only 1-2 times per week
- Special occasions are exceptions
- Only buy foods that I will eat
Free Pass
- Allow for 2 free passes throughout the year
Exceptions
- Travel expenses
Reassess
- Revisit my status and the criteria each quarter
- Allow for adjustments if needed
Closing Statement
This is an experiment, so I think the key part of my plan is reassessing how I’m doing throughout the year and adjusting. It’s a big change, and with that, there will be step backs and successes.
If you want to learn more about spending habits, you can check out our article on having a fashion fast and cost per wear.
If you want to learn more about no-buy and low-buy years, check out this article >>here<<.
Any of the brands mentioned above does not sponsor this article. However, some of the links may contain affiliate links which may generate revenue for the site when clicked, or when a purchase occurs. The information in this post is my thoughts and preferences.
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