At the end of last year, I published a post titled, “How to Make 2024 a No-Buy Year” where I broke down exactly what a no-buy year is and my personal no-buy year plan.
As I write this, it’s February 1, and the first month of my no-buy year is officially in the books! So, I figured it’s the perfect time for a quick check-in. I’ll share exactly what I spent this month and whether I was able to stick with my no-buy year plan.
My goal is to reinspire anyone out there (including myself, honestly) who is also embarking on a no-buy year. After all, it’s easy to start a no-spend challenge when everyone around you is setting resolutions for the new year. However, it becomes much harder to stick to it as the year unfolds.
An Overview of My No-Buy Year Plan
I don’t know about you, but December 2023 feels like a lifetime ago. For those of you who can’t remember what my no-buy year plan looked like or simply didn’t read that original post, I’ll start by giving you an overview.
To prepare for my no-buy year, I created two lists: a can-buy list and a purchase list.
A can-buy list is essentially a list of exceptions—things that you can-buy during your no-buy challenge. This list should include essentials like food and toilet paper, as well as items you’ve needed to buy for a while (and plan to do so).
While the goal of a no-buy year is not to buy anything outside of your can-buy list, the reality is that it can be challenging (if not impossible) to plan for everything you’ll need throughout the year in December. This is where a purchase list comes in.
The purchase list is where you track any purchases made that aren’t on your can-buy list. Having a system in place to account for these purchases can help you stay committed to the overall challenge, even if you buy something you’re technically ‘not supposed to.’
I’ll also share my purchase list in this post because, yes, I already have one..
Can-Buy List 2024
Below is my original can-buy list for 2024.
Items I can buy
- Medication/doctors appointments
- Utilities/bills
- Gym membership
- Classes (within reason)
- Spotify/Netflix subscription (no other subscription services)
- Bike maintenance/repairs
- Gifts (only for super special holidays/birthdays)
- Plane/bus tickets and fair
- Festival/concert tickets (within reason)
- Eating out (only for special occasions)
- Lamp (I’ve been on the hunt for one FOREVER)
Items I can buy when I run out
- Groceries (no stock piling food!)
- Cleaning supplies
- Toilet paper
- Toiletries (toothpaste, face wash, sunscreen, lotion, shampoo, deodorant)
Items I can replace (if lost or broken)
- Running shoes
- Underwear
- Basic electronics (cell phone, laptop, headphones, charger)
- Essential clothing pieces I only own one of (rain jacket, winter coat, mittens, etc.)
January 2024 Spending: No-Buy Year Expense Report
Next, I’ll share exactly how much money I’ve spent so far in 2024.
Credit Card Statement for January 2024
Date of Purchase | Purchase | Price | On Can-Buy List? (Y/N) |
---|---|---|---|
1/2/24 | Medical bill | $194.57 | Yes! |
1/2/24 | Bus passes | $10 | Yes! |
1/3/24 | Groceries | $23.17 | Yes! |
1/6/24 | Groceries | $18.15 | Yes! |
1/11/24 | Groceries | $7.50 | Yes! |
1/16/24 | Boot insoles | $48.90 | No 🙁 |
1/18/24 | Groceries | $28.94 | Yes! |
1/19/24 | Lamp | $58 | Yes! |
1/19/24 | Groceries | $87 | Yes! |
1/22/24 | Eating out | $18.50 | No 🙁 |
1/27/24 | Groceries | $9.78 | Yes! |
1/29/24 | Groceries | $14.51 | Yes! |
1/31/24 | Gift for friend | $29.39 | Yes! |
1/31/24 | Gym membership | $64.95 | Yes! |
Venmo/Zelle Statement for January 2024
Date of Purchase | Purchase | Price | On Can-Buy List? (Y/N) |
---|---|---|---|
1/4/24 | Groceries | +$15 | Yes! |
1/7/24 | Gas | $10 | Yes! |
1/14/24 | Eating out | $4 | No 🙁 |
1/14/24 | Groceries | $111.38 | Yes! |
1/15/24 | Movie rental | $2 | Yes! |
1/17/24 | Monthly dance | $15 | Yes! |
1/18/24 | Gift for coworker | $10 | Yes! |
1/22/24 | Concert ticket | $15 | Yes! |
1/27/24 | Groceries | $16 | Yes! |
1/29/24 | Rent | $1,000 | Yes! |
Purchase List 2024 (So Far)
Date of Purchase | Purchase | Price |
---|---|---|
1/14/24 | Eating out | $4 |
1/16/24 | Boot insoles | $48.90 |
1/22/24 | Eating out | $18.50 |
No-Buy Year Reflection: Things I’ve Learned So Far
This month, I spent $1,781.74, and $71.40 of that was used for purchases outside of my can-buy list. Given that my can-buy list was pretty extreme, it doesn’t surprise me that I deviated from it a bit.
On my can-buy list, I put down that I could only go out for food on special occasions. In hindsight, this was obviously too strict. Instead, I should have set a limit on how many times I could go out to eat during the month—four times would have been a more realistic and achievable goal.
Now, let’s talk about the boot insoles. Here’s the story: early last month, I visited a consignment shop and sold some clothes I no longer wore. With the store credit I earned, I got my hands on some INCREDIBLE boots. While the boots themselves were technically free, they happened to be a size too big. In order to make them fit better, I bought some insoles. Admittedly, insoles were not on my can-buy list, so I guess I ‘failed’ the no-buy challenge. However, I don’t view it as a failure at all!
Going into my no-buy year, I knew that I’d probably end up buying some things that weren’t on my can-buy list which is why I created a purchase list in the first place.
This purchase did teach me a valuable lesson. When you buy something, there’s a chance you’ll need something else just to use the initial item. So, it’s important to be super intentional with every purchase you make because it can truly have a ripple effect. In this case, I bought boots and then needed to buy insoles to make them wearable.
Looking Ahead
This month (February), I’ll be traveling to Puerto Rico for a wedding. My friend and I booked our accommodations and transportation months ago, so most of the big-ticket items have already been paid for.
My intention is to only spend money on experiences, food, and other essentials. Since we won’t always have access to a kitchen, I anticipate that eating out will be my biggest expense.
Although I’m a bit nervous about how my trip will go in terms of spending, I’m genuinely looking forward to continuing my no-buy year. Thus far, my no-buy year has been really fun. It’s given me an opportunity to be even more intentional with my spending, challenge myself to find creative and free ways to spend my time, and practice gratitude for all the things I already have.
Are you doing a no-buy year? If so, let me know in the comments how your first month has gone!
Leave a Reply