"How To" Do a No-Buy Month? Tips, Tricks, Hints?

[hlkeck]

I'm new to the No-Buy concept! Very new. Any Hints, Tips, or Tricks that you have - for the veterans - please post here! There seemed to be a bunch of newbies signing on for the new year, so anything you can post to help would be great!

Thanks so much!

 

[Virgderon]

Good morning! No buy is awesome because you can make your own rules based on your personal situation, but most of us don't count "set" bills, like the house payment or gas bill.

For me, it was not as much about getting no buy days as it was staying under budget. So I added up all the bills that I have to pay, and subtracted that from how much I make. That gives me the amount I can spend on non-essentials, including food.

That number is usually $800 or $900. So my goal is to stay under that number no matter what. The first month I did No-buy (May) I was shocked at how much money I wasted on trivia like magazines and cleaning supplies. My grocery spending was very high for only 2 people.

In June I got serious. I started couponing and going to sites like Southern Savers. I now track my total spent for the month, how many no buy days, how much I spent on groceries, and how much I saved on coupons/sales.

Others track how much budget they have for eating out or gas. Its up to you.

Since I started tracking in June, I have saved $1250 on groceries/ cleaning supplies, etc, which is about $200 a month. I also have a Christmas club that I put $100 a month in, and an online savings account that I put $50 a month in. I'll be raising that amount this month when the social security tax cut goes into effect.

I paid off about $6700 in credit card debt this year as well.

No buy opened my eyes to how much junk I was wasting money on. I think it works best if you write down everything you buy, because that is how you will find out what your money weaknesses are and start working on them.

Don't give up after the first month- the first month is a trial run to see what your spending habits look like, and the 2nd month you can start making some adjustments.

Good luck! We will be there to support you.

 

[thebigkahuna]

I love the "no-buy" because I get to make my own rules (that's the rebel in me!!)

I think the one "tip" that has stuck with me, is that the no buy is for ME. (or in your case, it's for YOU!) The point I'm trying to make is that its personal. I can read all the other posts, but I have to continue living in a way that makes _me_ comfortable. No one elses budget applies to me.

Some posters post every dollar spend, some post just the days they didn't spend money. Some include "fixed" bills like mortgage and car payments, and others only record money that didn't have to be spent (you may see posts from me that say "OK OK ! I caved & got Starbucks!") it happens.

One of the biggest benefits I have found here is the fact that posting here actually helped me be more aware of where I was spending - where my budget "leaks" were - (see Starbucks reference above)
And, believe it or not, there are times I will skip frivolous spending because I know I would have to post a "spend day" .

And don't get discouraged!!! it took me 3 months to get my budget fully tweaked. and I still make adjustments.

Also, it's such a friendly & supportive thread. I have never encountered "snarky-ness" on a no-buy thread. Posters really help and encourage, which makes it fun to keep coming back each month!

 

[MickeyMomOfThree]

Yep, I agree with both of my No Buy Friends and what they say. It is what you want it to be, we are just here to support you. I personally record everything that I pay out, because my DH does the bills and I do the extras. Now this year I am tweaking it because we did it my way for a year but not DH wanted to try not recording gas and groceries as a no buy because to him they are necessities so we are going to try it his way for a while.

My goal was to do it for a year, but it was very eye opening and also, I just ove everyone there so much that I don't want to leave, so I am continuing and changing it up a bit which is totally OK cause we set our own rules.

I too have passed on things because it was a no buy day. The way I see it it makes me think about things more, less thoughtless purcheases. Now I see something and I think is it worth recording it and where will this purchease be in 6 months. If I still want it, I know I really want it.

I think my biggest tip is don't underestimate how difficult it can be. Many people set their goals really high and then get discouraged if they don't make it. I'd set a goal of 10 and then maybe increase it by 1 or 2 each month till you are at your goal.

Good luck and it will be fun to get to know you!

 

[julirina]

Thanks so much for posting this...and thanks to all the veterans for sharing your wisdom! I've always been a terrible budgeter (I'm more of a bury-my-head-in-the-sand-and-hope-for-the-best kind of bill payer) and I'm hoping that just making a concerted effort at *not spending* will help me become more aware of my habits in a less painful way.

I'm looking forward to reading more and learning along the journey!

 

[3goofyboys]

Like everyone else said, No Buy is really what you want it to be. I record every dollar I spend that isn't a set bill like my mortgage, gas, electricity, ect. I do it this way because it really causes me to be mindful of my spending. I've often passed over a frivolous item because I know it will ruin a no buy day or because I know I'll have to come back to the thread and report it. It's like being on a diet, often just recording what you're putting in your mouth makes a huge difference. Just recording what's coming out of my wallet has change my life!

One tip I'd offer is to group your spending. For example, I know that I'm meeting some friends for lunch tomorrow, so instead of getting gas today, I'll get it tomorrow and I'll run any other little errands I might have. I know that I spend the same amount of money whether I get gas today or tomorrow, but No Buy forces me to think about it and plan ahead for any spending I might need to do.


PS: Everyone on the thread is very nice and extremely supportive! I set my goal too high in November, missed it by a ton and was very discouraged. Everyone just kept supporting me and encouraged me to wipe the slate clean and start again in December.

 

[rnorwo1]

One tip I'd offer is to group your spending. For example, I know that I'm meeting some friends for lunch tomorrow, so instead of getting gas today, I'll get it tomorrow and I'll run any other little errands I might have. I know that I spend the same amount of money whether I get gas today or tomorrow, but No Buy forces me to think about it and plan ahead for any spending I might need to do.


PS: Everyone on the thread is very nice and extremely supportive! I set my goal too high in November, missed it by a ton and was very discouraged. Everyone just kept supporting me and encouraged me to wipe the slate clean and start again in December.

Another newbie here. Sounds like I started off way too high already (I thought I could get all my shopping done on one day each week since I don't have too much time to go to the stores anyway!) But I didn't think of all the other spending we do, so we'll just see how it goes. I haven't spent anything so far in Jan, but don't laugh (I know, one and a half days so far and I haven't even left the house)... I've twice found myself on amazon for stuff I've been "needing" and I've walked away from the computer b/c I didn't want to ruin my goal already! I'll have to buy some milk and stuff this week and a baby shower gift, so I guess I can try to combine that to one day? If I'm able to keep this up, I think it'll definitely force me to be more organized with meals and such especially. So that seems like an added bonus in addition to cutting out the spontaneous, needless spending.

I'm trying to partner this concept with the use-it-up thread that's going now also. I really want to save more this year!!

 

[MickeyMomOfThree]

The good thing about lumping your shopping and errand days are you are saving gas (which is really starting to climb up here again) and the less you are in the stores the more you are tempted by things you don't really need.

 

[Virgderon]

The good thing about lumping your shopping and errand days are you are saving gas (which is really starting to climb up here again) and the less you are in the stores the more you are tempted by things you don't really need.

True about the gas. They are saying it might go up to $4.00 a gallon again. We will need to save $$$$ so we can pay for that.

Lately I have been shopping with a list. Sticking to a list helps me stay honest with those impulse purchases.

 

[thebigkahuna]

I have to chime in again - definitely don't get discouraged!

One of the HUGE benefits for me on the No Buy threads was that I became aware of my spending - whether or not I met my goal wasn't nearly as valuable as knowing where my dollars were going. And for the months that I didn't make my goal, that was just *more* reason to stick with it & stay on track.

Oh and another thing that really really helps me -- not using my debit card for everything - it was so much easier to overspend using my debit card. Now I go to the bank, withdraw a certain amount of money, and that's that! You can't spend what you don't have!