I’m quitting spending money. I decided to quit shopping for a year. I’m an all-or-nothing kind of person and want to live a simpler life. We live in a capitalist society, consumerism is in our faces on a daily and I’m tired of contributing to that idea. The idea is that material things make you happy and make you who you are.
Do I have a shopping problem? I want to say no, but it might be a yes. I have been tracking my spending for some years now and at times it gets out of control. Over the years my income has grown substantially, so did my savings and investing but now I want FI/RE (Financial Independence/ Retire Early). I want to increase my savings %, so I need to stop shopping and throwing money at unnecessary things. I also want to teach myself to live a simpler more sustainable life. I paid my student loans off in 2020 (over $50k) and don’t have any debt (other than mortgage). I also want to figure out where is this need for things coming from, and what I can learn from a year of no buy. Excited, but I know it won’t be easy.
Rules.
I’m not allowed to buy any:
- Clothes (of any kind)
- Shoes
- Books
- Makeup
- Plants
- Skincare (only replacements once I use everything I have)
- Decore for my house
- Stationery
- Dog Toys (my baby gets Bark Box monthly so that should be enough and already has too many toys)
What is okay to spend money on?
- My wellness and health. I go to Orange Theory couple times a week and have their unlimited membership ($169). It’s a lot but worth every penny.
- Travel. I have a deal with myself that each year I need to visit at least one place I have never been before. I travel home to Poland twice a year and my family visit as well. When I’m back home I usually visit another European country since everything is close, and when my family is in the U.S., we visit different places (mom and dad coming in April 2022 and the plan is SFO and Napa Valley- since my dad makes wine at home).
- Food, Mortgage, Utilities, Car expenses
A couple of months ago, I invested in My Wealth Dashboard, and starting in December 2021 I will be moving all my tracking from an excel tracking spreadsheet to My Wealth Dashboard. I will be sharing my budget and expenses, so I can keep myself accountable.
Okay, let’s go.
Live with Enough 