No-Buy* 2021 / Other Financial Goals
Tags: Saving, Financial, Goals, Minimalism

Well, it’s almost 2021, somehow. Let’s break down 2020’s numbers…

I saved 230,634.35 in 2020, which is a new record for me.

I spent 174,565.94 in 2020, which is also a new record for me.

The narrative here is clear: I coped in 2020 with quite a lot of shopping, but also earned a lot, taking on a bunch of freelancing projects to make use of all of my down time. After taxes, I netted~$57,000.00 from freelancing this year.

Seeing how much I spent really sucks though. I tell myself that I could have gifted $30,000.00 to my mom so she can finally remodel her home, which is really in need of it. That’s the impetus for my No-Buy 2021 — to put money to good use rather than spending it on incredibly frivolous purchases and adding to my enormous closet.

However, I’m 30 this year, and by now I know myself. I know that I can’t sustain literally not buying anything — the second that I mess up my perfect record, all this planning goes out the window, and my attitude becomes: “welp, fucked that one up, YOLO”, and before I know it, I’ll have dropped thousands of dollars on stupid stuff.

That being said are my goals for No-Buy 2021:

What I can buy:

- Continue paying ~$30.00 a week for our farm share veggies.

- Other groceries, split with my partner.

- Occasional gifts for friends and family.

- Refills of the specific skincare / shower products I currently use*

- Very specific types of clothing**

- Donations

What I will not buy:

- Physical books*

- Most clothing

- Toys

- Skincare products outside of my current routine.

- Candy

- Electronics

- Anything from Kickstarter

- Candles

- Stationary

And here are my 2021 Financial Goals:

-Live entirely off of my freelancing money:

I make as much from my freelancing projects as most of my friends make from their regular jobs. There’s no reason I shouldn’t be able to live a comfortable life on just my freelancing income alone — allowing me to save my entire regular salary.

Save all loaned money:

- I paid off my friend L’s outstanding student loans, because the interest was really bringing her down. She’s paying me back about $600.00 a month until all $50,000 is paid off. I’ve set up an automatic transfer right into my Savings account so I’m not tempted to just spend that money.

Save $300,000 net (including investment gains):

- The majority of this money will come from my regular paycheck and RSU gains.

Try to spend less than $1,500.00 (outside of rent) per month:

- This is the really big one. I currently spend a ridiculous amount of money every month, about ~14,000.00 on average, which is seriously lame. I’m going to try to go about this weekly, and not spend more than $250 in the first two weeks.

*I currently use: shampoo, conditioner, shower gel, oil facial cleanser, facial scrub, normal facial cleanser, face lotion (day), face lotion (night), sunscreen, body lotion, and shaving cream.

**There are certain clothing brands that I’m super fond of, and as someone who is quite into fashion, I don’t think I’d be able to hold off on a particularly cool drop. I’m going to save my money for those special purchases, though, and not idly browse stores just to buy stuff. Having a budget I’m not supposed to exceed will really help here.