When I decided to have a low buy year in 2023, I hadn’t ever actually experienced one. I’d read a bit about them, but I couldn’t quite imagine what they entailed.
I was so used to being able to buy whatever I wanted, whenever I wanted (clothes, tech, random munchy snacks, “little treats” that added up). It felt unbelievable to actually have a year where I controlled all my spending. But I’d grown so frustrated with how little I was saving each month and how little progress I was making with my goals. I knew that I had to make a big change.
I decided: I am not buying things just because I can buy things. I resisted temptation by scrolling past unnecessary things. I would only buy what I really needed for this year.
And while I wasn’t perfect at it, what I did learn about money, self-discipline, and the type of person I truly was ended up being so profound. I saved more than I thought possible, I finally broke old spending habits for good, and I learned to find joy in so many things that cost nothing at all. Looking back, that year was truly one of the most transformative years of my life.
If you’re interested in planning your own low buy year, here is everything I learned in 2023 and step-by-step instructions on how you can make it work for you as well.
What Is a Low Buy Year?
Essentially, a low buy year is the opposite of a no buy year. You aren’t living as a total hermit and only buying essentials. Instead, you make a list of rules for yourself for what you’ll allow yourself to spend money on (and what you won’t). The goal is to be extremely intentional about buying unnecessary things, and to keep the focus on saving/spending for long-term goals.
For instance:
You might give yourself permission to buy necessities such as groceries, hygiene products, or office supplies.
You may eliminate spending on things like clothing, dining out, beauty products, or entertainment.
You might place some rules on yourself like only buying things to replace something you’ve run out of, or only one “fun buy” every week or month.
It’s a more personal, flexible approach than a full no-buy year, and that’s what makes it so sustainable.
Related: 10 Simple Frugal Habits to Start Today
Why I Chose a Low Buy Year in 2023
By the end of December 2022, I knew that I wasn’t happy with my relationship with money. I was busting my butt all month, and at the end of the month I felt like I had nothing to show for it. I had an overflowing closet, shelves packed to the ceiling with things, and a bank account that had barely budged.
And I kept asking myself: Do I really need all these things? Or am I just filling some sort of void by spending money?
That’s when I discovered the concept of a low buy year. It was “just right” for me—Goldilocks style. It was a way to cut down on spending without depriving myself (Goldilocks would approve). I was finally going to take control of my spending. So I stuck with it through the whole year in 2023, and I was never more excited to have done so.
Related: Frugal Living Tips For Large Families
How to Do a Low Buy Year, Step by Step
Here’s exactly how I did my low buy year, and how you can plan yours.
1. Establish Your “Why”
Before I even started, I wrote down exactly why I was doing this. For me, there were three main reasons:
I wanted to save money.
I wanted to declutter and clear out unnecessary things from my life.
I wanted to spend money better.
I knew that my purpose was going to be what kept me motivated, especially on the difficult days when I felt like throwing in the towel.
Your “why” can be anything from paying off debt, to saving up for a trip, buying a house, or just getting your finances under control. Write it down, and put it somewhere you’ll see it every day to remind yourself of it.
2. Establish Clear Rules
You can’t just “do a low buy year” without setting specific rules for yourself. Otherwise you’ll rationalize every purchase as a “need”.
Here were my main rules for 2023:
Allowed: Food, toiletries, necessary replacements (like a pair of shoes if they wore out completely), bills, and healthcare costs.
I also limited eating out to once or twice a month, only bought new clothes if an essential item wore out, and only allowed myself a new book if I finished one.
Not allowed: Online shopping, random beauty/makeup products, impulse buys at the checkout, and duplicates of something I already owned.
Of course everyone’s rules will be different, but the main thing is that your rules are realistic for your lifestyle.
Related: 8 Effective Ways to Live Frugally
3. Do an Inventory Before You Start
Before the new year started, I did a big inventory of what I already owned. I went through my closet, my bathroom shelves, my pantry, and even my drawer of tech accessories. I found a surprising amount more than I realized: extra shampoo, clothes I never wore, unused notebooks, duplicate travel utensils.
It was such a big eye-opener for me because I realized: I already have so much. I already have more than enough. It helped me clearly see what I needed and what I just wanted.
4. Track Your Spending
One of the simple things I did during my low buy year was keep a basic spending tracker. Every time I spent money, I wrote it down. This small habit transformed the way I thought about spending. If I saw something I wanted, I had to think twice before buying. I knew I would have to write it down later and see it in black and white.
You don’t need to use fancy budgeting apps, just a notebook or spreadsheet will do. The point is to stay aware and accountable.
5. Swap Out Free or Low-Cost Alternatives
Shopping isn’t always done out of need, it’s often done out of habit or entertainment. I found that when the urge to shop came, there were so many free or low-cost alternatives. Things I tried included:
Walking or going for a hike instead of mall browsing
Cooking at home instead of eating out
Renting books from the library instead of buying new ones
Attending free concerts and community events
I even made my own treats sometimes instead of buying them. Surprisingly, these activities were even more fun and rewarding than spending money.
6. Expect to Face Temptations
I don’t want to sugarcoat it: a low buy year is hard. There are so many temptations around you all the time, especially when friends are shopping, or when big sales hit.
For me, the most difficult period was the summer time when online retailers were having crazy discounts. I almost caved once or twice, but I remembered my “why” and kept strong. The good news is that with each passing month your urge to shop becomes weaker and more controllable. By the end of my low buy year, I barely thought about shopping at all.
7. Celebrate Milestones
I celebrated small victories all through 2023. Every time I saved money by not buying something, I would write it down. At the end of the month, I added it all up and was floored by how much I had saved in cash. But I also had more clear space in my apartment, more peace of mind, and greater mental clarity.
Lessons From My Low Buy Year
When I look back on 2023, the lessons I learned have been so powerful:
Buying things doesn’t equal happiness. The fleeting excitement of buying something new wears off quickly, but the joy of financial security lasts a lifetime.
I already have enough. Most of the time I didn’t need or want anything new, I just needed to appreciate what I already had.
Practice saying “no.” Each time I resisted buying something, I got stronger and more disciplined.
Money grows when you treat it well. I learned to respect and thank the money that came in. My savings account was no longer stagnant, it was building a future for me.
Contentment is a skill. Practicing living with less was one of the most valuable skills I have ever learned.
Final Thoughts
My low buy year in 2023 was truly one of the best choices I ever made. It wasn’t just about saving money, but about kicking bad habits, simplifying my life, and learning to find value in things money can’t buy.
If you’re interested in trying it, my best advice is to think hard about your “why,” create clear rules for yourself, and take it one step at a time. Progress is progress, even if it’s not perfect.
In a year, you’ll look back and be amazed at how much stronger, wiser, and freer you are.
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