So I’d heard of creating a list of things you can’t buy for a set amount of time to a) see if you need them and b) try and save money. I have done some research to try and find a ‘how to’ guide or even just an example of one. Alas I couldn’t find a thing, so I’ve decided to make one myself. I thought I might also explain why I’m doing this.
- I’m currently losing weight at ~1kg a week so I am going to eventually go down a dress size, its just not a good idea to be spending tonnes of money on clothes.
- To help me losing weight there are certain food items that just aren’t a good idea to buy – that’s not to say have occasionally, but consistently buy
- I want to save money to be able to buy good clothes when I do get down to my goal weight, I want to be able to travel and buy a new car one day etc.
- It might help me stop impulse buying – something that is destroying my bank account.
After making these goals I set what it was that was a) unhealthy for me to buy or b) unnecessary for me to buy. I am lucky enough to live at home so I don’t pay rent at the moment or very much for food. I do however have to spend a lot on fuel (nearly half of what I do earn goes on fuel) and netflix etc. I do have a budget document on excel which helps me know how much I do have to spend and where a lot of my money goes. The only thing this has really done is shown how much money I spend on useless things.
To help curb my ridiculous spending I’ve decided to impose a ‘No Buy’ List on myself until I am at my goal weight (hopefully around mid next year) to hopefully manage my money better, and to learn what i do and don’t need. So here’s how I went ahead and made it.
Step 1. Create your financial goals within a selected time frame.
Example: I want to save $1000 in a year
Example: I want to live within a Budget for a year
Step 2. Create Categories where you are going to stop buying things from
Example: Groceries, Clothes, TV Providers, Home Decor and Kitchen Ware
Step 3. Write the things you’re not going to buy!
Step 4. Try not to buy those things in order to achieve your goals 😀
There you go, my little no buy list. The only thing that I didn’t actually put into my list was when I was going to start buying those things again. This was because I don’t really know when I will be down to my goal weight so I’m just going to leave it as forever for now.