At the close of 2018, I had every intention of doing a yearlong cosmetic No Buy. Having successfully completed a 6 month No Buy in years past, I felt like this challenge would be doable for me. However, the more I thought about doing a yearlong No Buy, the more anxious I became about my spending… In fact, I started to spend uncontrollably, constantly buying new beauty products online due to the anxiety that came along with thinking about my No-Buy. Essentially, the idea of putting myself on a year-long No Buy set me up for a “beauty bender” of sorts that has lasted from October 2018 through March 2019.
As a result of my reckless spending, I’ve decided I needed to make a change. Originally, I had every intention of doing another No Buy, but each time I “started” I ended up making a purchase. As a result, I have decided to try a Low-Buy this year. My Low Buy Year officially started on May 1st and will run through December 31st. Unlike previous year’s No-Buy rules which dictated that I could not purchase anything new unless I a replacement, this year’s Low Buy will have different rules.
What is a No-Buy vs. Low Buy?
A No-Buy is a shopping fast that involves someone refraining from shopping for a set period of time. This may vary from one month to a year. Although this tactic can be used to reduce spending across a wide variety of categories, it is most popular within the beauty community for shopping-obsessed beauty enthusiasts.
Although the concept has grown in popularity as the beauty community has grown, one common complaint about No Buys is that fasts are essentially the “spending” equivalent to a crash diet. Thus, some individuals argue that these are not always the most effective method for making sustainable shifts to spending habits.
In contrast, a Low Buy is akin to a shopping diet. Rather than “starving” yourself from shopping in entirety, an individual on a low buy sets parameters for either the number of products that can be purchased or the dollar amount that can be spent during a given time period. Proponents of this shopping challenge argue that Low Buys are more sustainable in the long run and can still influence positive changes. Detractors argue that Low Buys don’t really do anything.
Low Buy 2019 Rules
- I cannot spend more than $75.00 on NEW cosmetics in a given month
- Dollars not spent in a given month can roll forward, but I cannot borrow against future budgets
- Ex. If I want to buy a $90.00 eyeshadow palette in May, I cannot pull $15.00 forward. I would need to wait until June to buy the palette.
- Exclusions: Items received via influencer networks, as gifts, or purchased via gift cards do NOT count against the dollar value
Although this challenge may seem laughable to some, I’m hoping that this will be a good detox for me because I’ve been spending far more than $100 USD a month since October 2018. Additionally, I’m hoping that once I start this challenge, I’ll feel encouraged to extend it. In an ideal world, I’ll maintain this budget indefinitely, but I’m just not sure how realistic that will be for me.
2019 Project Pan Goal
My current beauty collection is comprised of 350 products (valued at approximately $6.1K). In an ideal world, I’d love to cut my collection in half by the end of 2019. As such, my Project Pan Goal is to finish or declutter 50% of my collection, or 175 products. Knowing that I finished or moved out more than 250 products in 2018, this challenge should be doable from a volume perspective. However, knowing that my spending was off the wall this Winter and that I received so many goodies at Beautycon NYC, reaching 50% may be a struggle.
Are you doing any sort of spending detox or project panning this year? Please let me know in the comments below.