How to do a Low Buy Month or Year!

I have already shared with you all about my decision to do a no buy year, but it occurred to me that some people may want advice about how to do a low buy year instead. So here we are…

Let’s go through some steps to make this easier:

• First, you need to know your why. What is your motivation?Why do you want to save money? It may help to have this written down and visible on a daily basis to help keep you focused.
• Create rules that suit you! There is no one size fits all. You have to think about which areas you are willing to make savings.
• Know your outgoings. You need to know what it is you are currently spending on in each category: hobbies, crafts, trips, holidays, gifts, food, drink, etc.
• Once you know your outgoings, you can look at deciding which areas to save money. Decide which areas you might want to cut from your spend or which you want to cap the amount you are allowed to spend. If, for example, you usually spend £20 on takeaway coffee, could you reduce this to £10?
• Meal plan to save money on groceries and then take a specific list when food shopping. Depending on your emotional connection to food, cutting some pennies in your grocery bill is an easy option to reduce spend in a month.
• Do you have items in your home that you could sell to put towards your spending habits? Have a declutter or reorganise items to see what you have.
• Are there any other household bills that could be reduced – could you sacrifice some subscriptions for a month or find a cheaper deal for your broadband, gas or electricity? This will have some longer term benefits too.
• Wait before purchasing something – if you are trying to cut down spend in certain areas, try making yourself wait 30 days before purchasing. This will help you identify if it is something that is genuinely needed or will add value to your life. Make your purchases considered.

I hope these tips help you to decide on your own rules for a low buy month or year.

Good luck! Let me know how you get on.

Rachel, That 30 Something Life x