To know whether you’re up for a low-buy challenge, it’ll help to know what it is!
In case you’re not familiar, low-buy is the term applied to a mindful way of spending your money. It asks you to consider what you really want versus what you need. It also helps you save money while shedding light on consumeristic behavior that could be taking a toll on the earth.
Okay. We get it. Winter is hard and maybe you’re not up for another challenge at the moment. But you could always plan to start the challenge in the spring. Plus, it’s a lot better than a no-buy challenge.
Facing a No-Buy Vs. Low-Buy Challenge
A no-buy challenge is an attempt to buy nothing beyond what’s absolutely necessary to live for a set amount of time. That means that within that window, you don’t go to concerts, have drinks with friends, grab a coffee on the way to work, etc. Many people take on this sort of challenge if they’re attempting to pay down their debts and it can be effective.
It’s also a challenge that’s incredibly difficult and far too easy to fail.
A low-buy challenge, by contrast, works from the idea of moderation. You get to decide what specific items are off the table and which you’re still allowed to enjoy – but within a limit that you set. It’s also a way to save money and help the earth but with much more flexibility and chances for success.
Think You Have Nothing to Gain?
You might be rolling your eyes and saying, “I have nothing to gain from doing a low-buy challenge.” And maybe you don’t. But it never hurts to take a look at your daily behaviors to acknowledge whether they’re serving you or the world at large.
For example, do you lament your weekly grocery bill but insist upon getting a $5.50 coffee drink each day? Are you troubled by climate change but think nothing of all the packaging as a result of your carry-out meals or product deliveries?
Perhaps you spend a lot of time scrolling for new clothes, glasses, shoes, whatever your fancy might be. And it may be that you have a job that requires you to wear nice clothes. Okay. But… it may ALSO be that your desire to buy a few articles of clothing each week is more a form of retail therapy that offers an addictive shot of adrenaline each time you press “BUY”. To be honest, there’s not much therapy in that.
No, we’re not criticizing you. There’s almost no one who couldn’t be at least a little more mindful of their spending; for themselves, for others, and for the planet. But where do you start?
Figure Out What’s Necessary and What Isn’t
Take a look at your bank account or credit card statement from the past few months.
Your biggest expenses are most likely items such as your rent or mortgage, groceries, insurance, and gas or public transportation. These qualify as necessary expenditures.
But what about charges for non-job related clothing, carry-out foods, subscriptions, restaurants, home decor, beauty products, etc. How many of these purchases are necessary (and some of them likely are) as opposed to distractions? And how much of your account is drained by these unnecessary expenses?
Obviously, during a low-buy challenge, you’re not skipping out on paying your rent or insurance. You’re looking at your spending habits and deciding where you can shave off unnecessary expenditures.
Yet unlike with a no-buy challenge, you’re not stripping yourself completely of them. You look at your current spending and then decide what you won’t buy and what you’ll limit for the amount of time you’ve set for the challenge.
It’s About Creating Parameters
A low-buy challenge does not demand that you stop with the $5.50 drinks. Rather, it asks you to take a look at the toll it’s taking on your bank account and on the earth. So for a month maybe, rather than grabbing that $5.50 coffee each day, limit it to once or twice per week and then make coffee at home the other days.
The same can be said for going out to lunch every day versus bringing your own most days. Then see how much money you’ve saved and how much less waste you’ve created.
The nice thing about the low-buy challenge is the recognition that cutting yourself off completely from the things and experiences that bring you pleasure can also have negative effects. What’s more, by limiting these, you find more enjoyment when you do have them.
Ways to Approach a Low-Buy Challenge
It’s important to remember that with a low-buy challenge, you get to set your own goals and create a plan tailored to those goals. But to be successful, you’ll want to be sure the rules you put in place are not vague or confusing. They should be simple and concise.
You may also want to perform a digital declutter. Unsubscribe from brands. Unfollow accounts that will tempt you. Remove your credit card information from or even block sites where you regularly buy. And give yourself alternate activities (taking a walk, starting a new hobby, going back to playing an instrument, etc.) to distract you when you’re tempted.
Furthermore, continue to remind yourself why you’re doing this challenge (to meet a personal goal, pay off your car, have less of a negative impact on the planet) so you can stay on track. As you move through the challenge, continue to monitor your progress to increase your motivation.
And finally, enlist an accountability partner. This could be something like writing a daily blog post about your progress to reporting regularly to your best friend to hiring an experienced life coach. Being accountable to someone or something can make a HUGE difference.
Save Money and Lessen Your Impact on the Earth
Are you ready to explore a low-buy challenge? You can start any time and do it for as long as you like.
And remember, this challenge is in no way about being perfect. It’s simply an additional way for you to walk more mindfully through this one life you’ve been given.
So be kind to yourself as you explore. And if you want a life coach on your side who understands the ins and outs of this challenge, then contact us today. Having that guidance will make your journey that much more meaningful.
