I’ve been getting caught up in buying things, because I don’t feel particularly fulfilled in my life at the moment. So the first thing that I go to is a “treat” to help cheer me up. Flowers, crafty things, magazines.
Inevitably, the cheer-up-effect doesn’t last long, so I look for the next thing I can buy.
I know where this is coming from. I know that I want to be doing work I love. I know that I would like to see more of the world; and while I’m not doing these things, or enough of them, I feel deflated, unfulfilled. Then I go shopping to cheer myself up. And on it goes.
But really, in doing this, I am taking myself further away from being fulfilled in the long run. Trips abroad rely on money. I wish I could go for free, but I don’t see that happening anytime soon. Anyone got spare plane tickets? pass them this way! Didn’t think so!
The little things I am buying for very-short-term cheering-up effects, are taking me away from what I really want. Not things, objects, trinkets, but contribution, helping others, travelling. Those are the things I want to spend my money on.
So, with slightly fearful commitment, I am signing myself up to a 5-month no spend challenge.
By no-spend, I mean objects and non-essentials. I’ve created some rules, as follows:
1. I will not buy any objects that will clutter up my home.
1a. I can buy materials to make gifts, but no ready-made objects. I can also buy notepads for journalling because that is essential to me.
2. I will set myself a £20 weekly experience budget. Dinner out, time with friends. Experiences are so much more worthwhile than stuff.
3. Bills, rent and food are allowed, but budgeted.
4. All other money will go into savings. I will keep my emergency fund in my current account.
5. Anything left over from the weekly experience budget will go straight to savings, or be used to replace a worn item of clothing. Only 1 item per month, and I will donate/throw away 2 items from my current collection.
6. Post here with updates.
I’m writing this to be accountable. If I write concrete rules and post them here, I will be more likely to follow them. I am very very good at justifying something I want to myself, and find it very hard to resist. My partner is also genius at convincing me to buy things if I want them.
By the end of the summer, I will hopefully have saved a decent amount of money, and I will have learnt what else there is to life than owning more stuff. Further, I will have more time to think about what matters instead of thinking of the next item I want to buy.
A prettier copy of the rules:
I have a feeling I will encounter difficulty when the summer sales begin. But I will just remind myself why I'm doing this, and come here to write about it instead.
Anyone want to join me?
Hi Linda,
ReplyDeleteFor your interests in travel, I recommend you take a look at this post from Carl Parmenter's blog:
http://carlparmenter.wordpress.com/2013/02/11/from-a-to-b-for-free/
I'm not trying to suggest hitch-hiking but, if you could afford a means of getting there and perhaps some spare funds to entertain yourselves in the evenings then, it offers some useful ideas on how to find affordable accommodation. A friend of a friend is apparently doing something very similar to this in Spain right now.
I'll try to join you on the budgeting, as I'm continually finding items that I no longer need and can either give away or sell.
Hi Linda,
ReplyDeleteYou will do well I am sure.
I was doing a similar challenge last year but mostly with clothes and as I was working in a charity shop you can imagine how easy it was for the money to trickle away 'cause everything is a bargain!
I wrote a specific list of things that I was allowed to buy (a few things really needed replacing) and after a while I felt no need to buy clothes or other bits and was enjoying seeing the money build up in the savings account.
Unfortunately I just had to spend my holiday money on a few unforeseen things, TV broke, had to get new glasses etc so I am back to square one but I'll start again and hopefully I will finally have that WARM holiday I crave next year.
I hope you will feel some satisfaction from the control you will have over your spending.
I always find Martin Lewis advice helpful and maybe you will too.
http://www.moneysavingexpert.com/shopping/money-mantras?utm_source=MSE_Newsletter&utm_medium=Email&utm_term=19-Mar-13&utm_campaign=shopping&utm_content=81
Good Luck!
Hi Anne, thanks for stopping by and reading!
ReplyDeleteYes, it's especially difficult when things are cheap, and being surrounded by them can't have helped! It's the little things that really drain the money and it's harder to notice.
I have built up an emergency fund for big bills that we don't expect, and everything else will go in savings. perhaps you could build up an emergency fund first and then save the rest?
I hope this challenge works out, I'm already challenged by the prospect of not buying anything non-essential for 5 months!
Thanks for the link, I can imagine it would be good to put it with my card so I have to think before I put it in the machine.
Thanks for the link, will take a look.
ReplyDeleteYeah, we are saving for the flights, and I'm looking at going on retreat for a while, which will have costs associated with it.
It's so satisfying selling things you no longer need :) I finally managed to list some things on ebay! woo. :)
Let me know how it goes with your budgeting!
This is a great plan, maybe you could start to plan a trip also, something to look forward too while you are saving. I am always mad at myself for frittering, it is good to pull ourselves out of it. Will follow your progress !
ReplyDeleteHey Lizzie, thanks for reading!
ReplyDeleteThanks for the great idea. I think a reward would be good, it might help to focus on that while I'm not spending. I've been thinking about a trip, and I also really really want to get a DSLR camera. :)
[...] am on a 6 month no spend challenge (Apr 1st to Sept 30th), and also an avid crafter. Not being able to buy materials (except for [...]
ReplyDelete