How not to buy what you don’t need this year
Warren Buffett once said, “If you buy things you do not need, soon you will have to sell things you need.” And the billionaire certainly knows a thing or two about money management.
Moving out of our family home and into an apartment has become an exercise in shopping responsibly. Recently, we set up our turntable, a new analog hobby my husband and I hoped to pursue. But in the process, I bought a few items for vinyl and speaker storage that ended up cluttering and costing more than what was necessary. The bulky storage has crowded our space, and I might just have to sell it, as Buffett warned.
Decluttering is always in theme with the start of the new year, as you let go of the old and make space for the new. But instead of opening up to all new things, it could be helpful to put a stopper on buying certain new things—a stopper that benefits not just our personal spaces, but our wallets, too.
In the post-pandemic age, with online shopping at your fingertips (without lifting a finger to even go out and pick up something), it’s easy to get a shopping high from the instant click of the checkout button. But it’s just as easy to pick up buyer’s remorse, too.
Here are some real-life ways to avoid buying what you don’t actually need, and to shop (or not shop) intelligently and responsibly.
1. The two-week rule
This one is a go-to. If you see an item that sparks your interest, wait 14 days before buying it. Often, the excitement fades once you realize your “must-have” was, in fact, not necessary to have.
One technique that helps is to draw the item that you were considering buying (or take a picture). With that image left visible, you can feel the energy of that item in your space and see if it still sparks the same joy from when you first saw it.
I remember I came across the cutest rattan bag in Bali, but it cost upwards of $100. When I came home, all I could think about was that bag that got away. So I drew a picture, colored it in, and left it on my desk, its price tag drawn big and bold. A few days later, looking at the bag I thought was so cute, I realized that excitement had faded and my feelings had changed: it was simply not worth it.
2. Turn your home into a treasure hunt
Before buying something new, check what’s already lying around. You’d be surprised how many “new” items are already in your closet, under your bed, or hiding in storage.
Do you have a similar item tucked away? Could an existing piece be repurposed? How often do we buy clothes that all look the same, and forget what’s already in our closet? Sometimes, just creatively rearranging what’s already at home scratches that itch.
3. Break up with endless scrolling
If you’re anything like me, you’re a fool for online window shopping. It’s so easy to get pulled into scrolling through shopping apps or social media, where the algorithm frames every product as irresistible.
Set boundaries by closing the apps, unsubscribing from marketing emails, or unfollowing accounts that trigger unnecessary spending. Instead, pick up a book you bought years ago, gathering dust on the shelf.
4. Ask yourself, does it spark joy?
Thank you, Marie Kondo, for this tip for life. Before buying, take a good, long look and simply ask yourself, “Does this spark joy?” If the answer isn’t a hard yes, skip buying it.
5. Don’t buy it, but borrow
Need a gadget, tool, or a fancy blender you’ll probably use once? Instead of buying an item outright, try borrowing from a friend or family member. This is a practical option that is also a way to connect with a person, as you get to chat, catch up, or maybe even laugh about how rarely these things get used.
There is also the rental option. If you’re thinking about buying fancy dress for a wedding or special event, there are many rental options in the country now available, like Vestido or Continuiti, for example.
6. Keep a “regrets” jar
This is for the serious shopaholics. Every time you buy something you don’t need, put the money you spent in a jar. Watch it grow over time. This could also be a good exercise if you have kids who insist on certain toys that they eventually outgrow. You might be shocked at how much you can save.
7. Reward yourself, intentionally
Intention has been the buzzword for a few years now, and it’s that way for a reason. Instead of buying more things, celebrate small wins with intentional experiences. Think coffee with a friend, a walk in a park, binging a show guilt-free, or my favorite way—opening up a bottle of gifted wine in storage for a glass or two (or three!).
Rewards don’t always have to cost a lot of money.
Sometimes, we need a reality check
You can also ask for the advice of friends or family. Show them that shiny object you’re eyeing and ask them if you think you really need it (I know my husband would always say no). You can also write your shopping list down in a notebook or planner, next to the reasons for buying it.
Writing down your reasons can make your decisions more intentional and prevent purchases based on fleeting desire.
So reflect on your past impulse buys and look at that rusting gadget, dusty piece of decoration, or trendy bag that you never use—and laugh about it. At the same time, learn from it, too, by letting your future self avoid the same fate.
All in all, restraint from buying what you don’t need comes down to discipline. So pause, and think twice before buying. Your wallet won’t just thank you, but your future self will, too.
