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Low Buy vs. No Buy

Hello Readers,

A great way to reduce your consumption and increase your net worth is by exploring the low buy and no buy challenges.


Low buy is a challenge in which participants limit spending in a specific category for a specific length of time. For example, cutting online shopping to one purchase a month for six months.


No buy is a challenge in which the participant completely cuts spending in a specific category for a specific length of time. For example, not online shopping at all for three months.


You can apply these to most areas of your life: clothing, takeout, entertainment, happy hours, retail shopping, wine subscriptions, streaming subscriptions, technology, etc.


You can completely customize the parameters to your individual scenario depending on your highest spending categories.


Before you buy, remember that you yourself are enough. Why you are making this purchase? Is it a need or a want? You don't need the hot new things to be accepted by your peers.


When you want something, wait thirty days. The instant gratification dopamine hit will usually wear off. If you find you still really want it, consider whether it is a worthy investment. If possible, do your big purchase shopping on Black Friday when everything is on sale.


What areas of your life would you apply these to?


Happy savings,

Lady

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