Last year my son got his first job. It paid about $11/hour. He quickly learnt that the things that he bought were paid for, per hour of work. For example, lunch with friends might have cost $20, which he saw as two hours work. He didn't particularly like his job and two hours work just to pay for lunch wasn't worth it in his opinion. I was amazed at how quickly he learnt that important lesson - ie, our money is worth our time.
Henry David Thoreau said,
The cost of a thing is the amount of what I will call life which is required to be exchanged for it, immediately or in the long run.
My current job is a real pay-cut from my teaching job (but I love it so much more!) and yet I found that I was spending as if I were still on a teacher's income. I was dipping into my savings to pay for things I didn't really need. For the last two months I have realised just how frivolous my spending had got. For the last couple of years I had been tracking my spending (on clothes only). Let's have a brutally honest (and somewhat embarrassing) look at my spending:
In January and February 2023 I spent over $600. That's right - in two months! Last year for the same period I spent $145. Much better improvement. This year I have spent nothing on clothes. The one unexpected purchase I made was for boxed hair dye. I had thought that I would leave my hair natural and let the greys grow out but I discovered I wasn't ready for that yet and paid $10 for the dye.
"Simple living isn't about spending nothing at all and making yourself miserable because you are frugal; it's more about living within your means and not wasting your hard-earned money on things you don't want or need."
Down to Earth ~ Rhonda Hetzel
One of the most positive aspects of this no-buy year is I really love my current wardrobe now. I am wearing all my clothes (I plan to do a bit of a style post in the coming weeks - so stay tuned!) now and have a much better understanding of my own personal style. I launder them carefully, iron them, and appreciate them so much more. I spent a lot of time curating this particular wardrobe before I began the no-buy year and I'm so glad now that I did because I really feel like I have everything that I need. I really hope this feeling stays going into the colder months which for me, have always been a bit harder to style. I tend to shop more in winter possibly as a way to deal with the winter blues. However, looking at my winter wardrobe I am pleased with what's there. I still have a $100 gift voucher to David Jones department store up my sleeve. I have spent time looking on their website but because I am aware of how finite that amount is I've not spent a single cent of it yet. Whatever I do spend it on will need to be a necessity or a real asset to my wardrobe.
I have unsubscribed from all fashion store emails which has really helped. I rarely look at outfits on Pinterest anymore, unless it is to style something I already own. It is amazing how much more free time I have now that I am not in the mall or searching online clothing stores. Honestly, I didn't know how I was going to go with this no-buy year but I am amazed at how good I feel. I am proud of myself, content with what I have and look forward to continuing this way for the rest of the year.
As for books, I have also bought none. I have been visiting the library every week and also been looking for free downloads on Amazon (although I only did this once, and really more for inspiration for a blog post). I have met friends for coffee or lunch, but only a couple of times and I've not bought food or drinks for just myself. I think it's important to still catch up with friends and be social so this is something that I knew I would continue to do - within reason.
Overall, I'm really thrilled with how the no-buy year is going. I now work as a bookkeeper so keeping a pretty spreadsheet that tracks both my spending and my savings has been a real blessing. I love watching those numbers go up! However, the biggest blessing has been the cultivation of contentment and the appreciation for what I already own.
If you are participating in a no-buy or low-buy year, how's it going? Are you finding it easier or more difficult than you anticipated? I'd love to hear your thoughts in the comments below.
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