Create a Don’t Buy List
I have long had a “to buy” list to which I will add items throughout the year, shortening and updating as needed. It’s relatively short now, including a water purifier, art for my apartment, and wireless headphones to use while running.
But if I’m going to reach my financial goals for the year, I really need the opposite: a Don’t Buy list. It’s like a month at no cost, but broader and more flexible. These are the things you’ve bought in the past and you know you don’t have to spend money again inspired by The Financial Diet .
The goal is clear: identify what you don’t need so that when you are tempted in the future, you can hopefully take a step back and think about your priorities.
Here’s mine for the summer:
- Fast fashion – I’m never happy with what I buy from stores like H&M and Forever 21 and usually end up donating it after a few months (and the Salvation Army no longer needs black synthetic tops or poorly fitting unlined skirts).
- Most of the makeup. Every time summer comes, I think it’s a good idea to try something “fresh” and “trendy” with my makeup. But I am terrible at putting on anything other than the simplest look and also lazy and I never use any products I buy (other than lipstick and mascara). So no orange eyeshadow or blush for me.
- Random books from Strand. When I’m stressed at work or have some free time during lunch, I sometimes go to the Strand bookstore, which is near the office, and grab a book or two, some of which I’ve heard. out, I see others for the first time. I often don’t like the book. It adds up!
- Apartment knick-knacks – I’ve just moved, so I’m buying a lot of things for my apartment. While some things, like a sofa, make sense, others just aren’t a priority. For example, random “decorative” items or cheap wall art. I’d rather save up and buy meaningful art.
So what’s on your Summer “Don’t Buy” list?