I’m starting 2024 off with a 90-day “No Buy” period on clothing and accessories to reset my relationship with shopping. Throughout 2023, I tracked my wardrobe spending to investigate my shopping habits and understand what I spent on clothing and accessories. The results were truly eye-opening and the practice of wardrobe tracking is something I will continue in 2024.
A couple of revelations I had were:
- I spent far more than what I expected. Over $7500 — about double my estimate.
- I added exceedingly more items to my closet than I thought: 59 items in total, including clothes, shoes, and accessories.
In a world driven by consumerism, where trendy clothes and must-have accessories constantly tempt us, it’s easy to fall into the trap of mindless spending. Even when you have a wish list. It turns out, I actually did have enough to indulge in some fancy purchases I’ve had on my wish list for years (namely a Gucci Jackie purse).
Instead of prioritizing fewer, more expensive items that would have a larger impact on my styling and help streamline my limited closet space, I opted for multiple smaller purchases each month.
So, what is a “No Buy” period?
A “No Buy” period is a conscious decision to refrain from unnecessary spending for a specified duration. It’s not about depriving yourself. Instead, it’s reevaluating your relationship with material possessions and redirecting your focus towards more meaningful aspects of life.
During this time, you refrain from purchasing items from your selected category (or categories), such as clothing, tech gadgets, or beauty products. Instead, focus on utilizing what you already have.
For this 90-day period, I will not be buying any clothing, shoes or accessories.
Benefits of a “No Buy” period
I’ve realized that constant consumption is not only bad for my finances, but it’s not great for the planet, either. Doing a “No Buy” period can be a transformative experience that can help you live more in alignment with your values. For me, the “No Buy” period will be to:
- Cultivate gratitude for what I already own
- Flex my creativity by finding new ways to style my existing pieces
- Refine my personal style
- Save for high-end items on my wish list
- Reduce unnecessary spending so that money can go towards long-term savings goals
Other benefits from a “No Buy” period can include:
- Improved financial well-being: Debt repayment, savings goals
- Mindful consumption: Quality over quantity, lower environmental impact
- Rediscovering what matters: Joy of experiences over possessions, fulfillment in personal growth
- Building resilience: Strengthen willpower, resist allure of marketing and societal pressures
Will you join me?
Embarking on a “No Buy” period is more than just a style and financial experiment; it’s a journey towards self-discovery and intentional living. By breaking free from the cycle of constant consumption, I’m aiming to gain increased financial freedom, flex my creativity, improve my mindful consumption habits, and rediscover what truly matters.
So, if you’re feeling overwhelmed by the pressures of consumer culture, consider embracing a “No Buy” period and experience the freedom it can bring to your life.
Will you be joining me in this 90-day challenge? Let me know in the comments!
Joan says
I will join you!!
Thank you for outlining realistic spending and kicking me in the butt to cut back.