In my 2015 Personal Finance Goals, I suggested that I am going to go on a shopping ban every other month for this year. This was a direct consequence of going a little nuts while shopping in Seattle over the holiday season with my sisters. I bought $200 black boots at Nordstrom Rack and a myriad of other items and I think spent over $500 on shopping alone that weekend (terrible, I know…yikes!!!).
There are some other personal finance bloggers who are doing a shopping ban, notably, Blonde on a Budget, who is not shopping for anything for an entire year (something that I couldn’t do for sure!). Shopping bans can be a great way to practice minimalism, reduce materialism, and help you re-think what you’re going to buy before you buy it. It also is a great way to save money as well.
So far, my shopping ban is a little lax (well, not too lax) and I just can’t shop for any clothes or accessories, or make up products…really anything that I don’t really need or deem essential. It also includes things like home improvement items (like a new toilet) and things like a Bodum French Press (I broke one while washing dishes and haven’t replaced it). My shopping ban is lax because I’m not restricting myself from eating out with friends or having coffee (I rarely have coffee out, but sometimes I do spend $2-5 a week on coffee when I am with my coworkers) or brunch (one of my favourite things to do on weekends). It also does not restrict me from buying gifts for people.
My shopping ban is in effect alternate months:
- January- no shopping
- February- okay to shop
- March- no shopping
- April- okay to shop
…. and so on and so forth, you get the idea.
Well, how am I doing?
Not too bad I think!Continue Reading