The Art of Saying No: Why 2024 Is My Low-Buy Year

This post is a little different from my usual posts, but I want to share it with the world for accountability. In a world that often encourages us to seek fulfillment through material possessions and impulsive purchases, the concept of a “low-buy year” is a refreshing alternative.

This intentional approach to spending challenges people to reassess their relationship with consumerism, prioritize needs over wants, and embark on a journey toward financial mindfulness and sustainability.

As a person who spends a lot of money online shopping, the concept of a low-buy year intrigued me. After reviewing my 2023 spending habits, I saw a lot of room for improvement. Read on to learn what a low-buy year means and why I’ve decided to embark on one.

What is a Low-Buy Year?

A low-buy year is a period during which a person intentionally limits their spending on non-essential items. The goal is to prioritize needs over wants, reduce unnecessary expenses, and make more intentional and mindful purchasing decisions.

There are many different reasons a person might choose to embark on a low buy year, such as:

·      Financial Goals: Saving money for a specific goal, such as paying off debt, building an emergency fund, or saving for major purchases like a home or a vacation.

·      Minimalism: Embracing a minimalist lifestyle and decluttering by avoiding the accumulation of unnecessary possessions.

·      Environmental Impact: Reducing consumption to minimize one’s environmental footprint and promote sustainability.

·      Mindfulness: Practicing mindfulness and breaking free from the cycle of consumerism by being more aware of one’s purchasing habits.

During a low-buy year, people often set specific rules or guidelines for themselves, such as limiting the number of clothing items purchased, avoiding impulse buys, or only buying items essential for daily living. It’s a personal challenge that encourages self-discipline and reassessing what truly adds value to one’s life.

My Goals for a Low-Buy Year

My reasons for embarking on a low-buy year are a combination of all the above factors. In 2023, I spent a lot of money on clothes, many of which I never even wore. When I was bored or sad, I often found myself shopping sales, hoping the dopamine rush I got from buying things would make me feel better.

The moment I realized that I had too many clothes and didn’t need more came in January this year. We recently moved into a new house, and the closet was a simple metal shelf spanning the width and length of the closet. At first, it seemed like it could hold more clothes than our previous closet. But one night, we woke up to a huge bang and found that the metal shelf had fully detached from the wall due to the weight of the clothes. It seemed like a sign that the amount of clothing I owned was excessive, and I decided I needed to make a change.

While clothing is the big area that I want to cut back on, I also want to minimize mindless spending on other non-essential items. Here are the rules I’ve set for myself for my low-buy year:

1.     No new clothes are to be purchased for the entirety of the year. If an item breaks or wears out, I will add it to a list of items needing replacement. Once a season, I will review this list. If it is an item I truly need, I will prioritize quality over quantity and invest in durable, long-lasting items rather than opting for cheaper, low-quality alternatives.

2.     No impulse buys. Instead, I will wait 72 hours before purchasing anything online or in a store. This will allow me to evaluate whether I truly need something or if it’s just something I want because I’m bored or sad.

3.     Before considering new purchases, I will prioritize using what I already have (such as skincare and beauty products).

4.     Sticking to a monthly budget. This will enable me to still have some discretionary purchases without going overboard.

Compared to many people’s low-buy-year goals, mine don’t seem that big. But I know that going for a full year without buying new clothes will be a challenge, so that’s what I plan to focus on. After reviewing my spending in 2023, clothing was the biggest spending category. To save money, it makes sense to focus on the area with the most room for improvement.

How to Stop Buying Things: Crafting Rules for Your Low-Buy Year

Are you interested in having your own low-buy year? Here are some key factors to remember when developing your low-buy year plan and learning how to stop buying things.

Establish a Budget

A well-defined budget is the cornerstone of a successful low-buy year. Identify discretionary spending categories, set monthly limits, and allocate resources strategically to align with your financial goals.

Prioritize Needs Over Wants

Distinguish between needs and wants. Before purchasing, ask yourself whether the item is essential or merely a fleeting desire. This practice cultivates a better awareness of personal priorities.

Quality Over Quantity

Shift the focus from accumulating possessions to investing in quality items. This approach enhances the longevity of your belongings and promotes a more sustainable and eco-friendly lifestyle.

A quick note here. I realize that spending more on certain products (like clothing) is a privilege and that not everyone can afford to invest in higher-quality items. If that’s your situation, please know there is no judgment from me. But if you have the financial means to invest in higher-quality pieces, it’s worth doing.

Embrace Second-Hand Shopping

Second-hand doesn’t mean second-rate. Explore thrift stores, consignment shops, and online platforms for pre-loved items (like Poshmark and Vinted). This contributes to sustainability and adds a unique and eclectic flair to your possessions.

Celebrate the Small Wins

A low-buy year is certainly not without its challenges. It can be incredibly difficult to resist the allure of sales and overcoming FOMO. That’s why it’s important to celebrate the victories, no matter how small. Completing a month without exceeding your budget or resisting an impulse buy are achievements worthy of recognition.

Document Your Journey

Try documenting your journey through a blog, social media, or personal journal. This creates a sense of accountability and encourages others to embark on their own intentional living endeavors.

Try a No-Spend Month

Consider a no-spend month if the idea of doing an entire low-buy year seems overwhelming. Choose a goal (such as not spending money on clothes or beauty products) and try to go for an entire month without spending any money on your chosen category. This may feel more achievable and can motivate extending the time period during which you don’t spend money on certain things.

Final Thoughts

The low-buy year can be a powerful change in a culture that bombards us with messages urging more, bigger, and better. By intentionally reframing our relationship with material possessions, we reclaim control of our finances and contribute to a more fulfilling and sustainable existence.

The journey towards intentional living is not a sprint but a marathon, and the low-buy year serves as a path toward a life guided by purpose and gratitude. I’m only one month into my low-buy year, but I already feel a sense of calm and control of my finances that I haven’t felt in a long time.

Have you ever done a low-buy year? What prompted it? Let me know in the comments!