May was an unusual month! For one, it was Ramadan, so my husband and I were fasting and on top of that I decided to take a break from social media for the month. I know, I’m a bit challenge crazy, first a no-buy year and then a social media fast – all while I’m hangry?! I have to tell you though that this extra challenge came at the right time, because it gave me a new perspective on the no spend.
May No-buy lessons:
FOMO is real: Quitting social media for the month had a big impact on my fear-of-missing-out feelings. I missed the experiences, and also the feeling of knowing what’s going on. Who’s having a baby next, who just got engaged, what unique cities (like Aswan!) are people travelling to? I seriously needed a break, because of those exact feelings though – especially when it comes to travel. As someone who’s always loved travel, having lived abroad several times and travelled for extended periods of time, it’s hard once you settle into a routine or are in a transitional phase in your life to realize you don’t have that same freedom of movement that you once used to. Of course, even now as a “travel blogger” there’s even more (less inflicted) pressure to see new places. Know what triggers you to feel FOMO and learn to step away from it to practice gratitude for all the things you do have.
Less ads, Less wants: In a similar vein, quitting social media allowed me to see less ads, whether they are blatant advertisements or the less obvious kind. It’s funny what that does to you, not being targeted by all those various ad networks, helps you to stay temptation free.
Buying alternatives: Why would I buy a Louis Vuitton bag, when I can buy Louis Vuitton stock! I’ve been thinking with this mindset, that I aim to purchase long term investments, that pay me back, whether by providing an income like dividend stocks or growing in value for resale one day. While this Louis Vuitton comment is just an example (please don’t consider it investment advice) it’s a profound thought that has influenced the way I look at new purchases, especially as I think ahead when my no spend year will be done. Especially now that I’m in a more financial oriented role in my 9 to 5, I am constantly developing a new understanding and appreciation for personal finance.
Time spent wisely: I’m a huge fan of Canna Campbell, a financial advisor from Australia that runs a YouTube channel that talks a lot about investing and created what’s called the $1000 project. As part of this challenge, you seek to manifest money outside of your income (by side hustles, selling things you no longer need etc. Each time you accumulate 1k, you invest it! I won’t dive into it too much, you can read more about it here, if it’s of interest. You again, any money I’m getting from selling in particular is going towards this project, so I need to reel myself in, again one project at a time! The reason I bring this up though is that when you have this extra free time, instead of spending hours scrolling mindlessly on social media, you can instead spend it to learn something new.
May Spending Recap
Thankfully yet again it’s been a month where I haven’t broken the challenge, or even bought any replacement items, although i know that will change next month (as you can see my eye cream is down to it’s last bits).
No-Buy Travel Fund Balance: $1001.39
The contributions from this month are coming from the $831.39 that’s in the post from last month as well as:
- +$170 from the No-Buy (the estimated monthly amount I’m no longer spending on my No-Buy items)
I’m floored to see that I’ve already crossed the $1k threshold 5 months in! This is money I’ve carved out, that in previous years I would have spent on beauty, clothing and books.
Do a spend analysis on yourself – even just one week’s worth! How much do you spend on your morning coffees? Or how much impulse shopping do you do on Amazon? Then think about something you’ve always wanted to do and start putting away any amount you can towards it. You’ll be surprised by how quickly small sums add up to larger ones!
Monthly Spending Updates:
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How wonderful to do this during Ramadan! I figure it would be difficult, but the holiday is such a change of pace anyways that it gives you that space to step back and reflect.