New years resolution: don't buy stuff

[Bushman]

Well, I'm not a big spender as it is, living well below my income, but, I'm trying to be a little more frugal. I didn't buy any clothes this year (and won't this year unless I change jobs and they have a dress code), and am expanding that to gun stuff in 2017 as well unless it's a spectacular deal as defined by at least a 30% savings OR I sell something else to buy the new item, etc.

So basically, I'm going to see if I can stop buying "junk" I don't really NEED. I'm already pretty good about it, but there is room for improvement. A couple years ago after buying yet another house, I had gone to IKEA and furnished the entire sprawling place and am now looking at all these chairs, couches and everything and realizing, lifestyle inflation has crept in even if just a little....

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[Vendor Hidden]

In terms of guns, there's no way I could hold off buying stuff in 2017. I'm just getting into firearms and once my CPL comes in, I'll be able to easily buy a couple more handguns to complement my .45. Also want a long gun or two.

When it comes to other things, yeah, I could probably benefit from cutting back a bit. Actually, I'd like to develop more abilities in the "making do with what I got" department.

Also, in general it would be good to become more of a "producer" rather than a "consumer". Make stuff. Don't buy stuff.

 

[Andy54Hawken]

Its not a good deal ... if you don't need it. ( Or have a use for it ).
Andy

 

[albin25]

It's really hard to convince some folks (sister-in-law) that just because it's half price, you're actually still spending if you don't need it. She'll spend $100 on shoes that retail for $200 and actually act like she earned $100 because she didn't pay full price for something she doesn't need, will never wear and usually doesn't fit because she won't admit she has feet like Sasquatch!
I think Nordstrom's actually named a changing room in her honor.

 

[Bushman]

It's really hard to convince some folks (sister-in-law) that just because it's half price, you're actually still spending if you don't need it. She'll spend $100 on shoes that retail for $200 and actually act like she earned $100 because she didn't pay full price for something she doesn't need, will never wear and usually doesn't fit because she won't admit she has feet like Sasquatch!
I think Nordstrom's actually named a changing room in her honor.

Yep. Unless you are buying to resell, then you're just throwing money out the door unless you needed the item anyway. At the least if I do buy something next year, something else has to go. Doesn't matter what it is. If I want a $20 gizmo to try out on Amazon, I have to sell something else to buy it. Keeps me from blowing money and acquiring too much junk.

 

[clearconscience]

You and me both brother!
I just got a promotion I'm regretting taking and I feel like I'm making decent money but I'm still broke.
Ie. No savings.
So this year I need to start saving money and being more responsible, ie not buying an AR10 on a whim.

I keep buying gun stuff I don't need and don't have time to use, and I eat out waaaay too often. I look at my bank statment and it's full of crap purchases of $5-$30 of stuff I can cut out. All those small things add up fast.

 

[Medic!]

Good on you.

For me. It's almost like the more I don't spend. The more money I seam to have?
In return I don't worry about money.

Weird?

 

[CountryGent]

Good on OP for cutting down on the stuff factor. Most of it is a waste of time, space, and monetary resources. I'm sure we've all heard of buyer's remorse, but have you ever heard of saver's remorse?

We've always made it a policy, through very lean years and very prosperous, to live well below our means, save a large percent of our income, and invested a good amount of that in various investment vehicles. Looking back, neither me or the Mrs have any regret on that policy. We live, other than our house/acreage, debt free. If we need a piece of equipment, we buy quality, maintain it until it dies, and repeat. We've never owned a new car or truck and never will. Clothing is functional, kept clean and in good repair, but following the fads and fashions is just brainless. Sure, we do fun stuff, and we each have our own hobbies, but they are kept at reasonable levels. I'm sure all that makes me sound like a square, but I rather be a square with a healthy financial life than a non-square without.

 

[ThemGunsThough]

You and me both brother!
I just got a promotion I'm regretting taking and I feel like I'm making decent money but I'm still broke.
Ie. No savings.
So this year I need to start saving money and being more responsible, ie not buying an AR10 on a whim.

I keep buying gun stuff I don't need and don't have time to use, and I eat out waaaay too often. I look at my bank statment and it's full of crap purchases of $5-$30 of stuff I can cut out. All those small things add up fast.

I'm on a similar boat my man.

 

[clearconscience]

It's funny I buy gun stuff somewhat often, but I only have time to go shooting a few times a year. While it's nice to stock pile, I find myself wishing I had a savings more. Luckily my wofe makes good money (more than me) so she's always been our saver and I've always paid more of the bills, but as I've been making more money I've grown to spend more of it on stuff I couldn't afford before.

So know I need to find my adult pants and start being responsible.
More for my kids so I can afford to do fun things with them, give them experiences they will remember.

 

[teflon6string]

Consolidating households soon, my sweetheart and I are tossing, donating, and offing stuff on Craigslist. There's a zen-like joy to de-cluttering, which helps us get through those temporary pangs of sentimental loss.

Funny though, we still like to go to swap meets, flea markets and garage sales. While we abstain from buying (for the most part), viewing other peoples' eclectic crap is its own brand of... porn.

 

[CountryGent]

There's a zen-like joy to de-cluttering

^ Agreed.

 

[pdempsey1097]

Good on OP for cutting down on the stuff factor. Most of it is a waste of time, space, and monetary resources. I'm sure we've all heard of buyer's remorse, but have you ever heard of saver's remorse?

We've always made it a policy, through very lean years and very prosperous, to live well below our means, save a large percent of our income, and invested a good amount of that in various investment vehicles. Looking back, neither me or the Mrs have any regret on that policy. We live, other than our house/acreage, debt free. If we need a piece of equipment, we buy quality, maintain it until it dies, and repeat. We've never owned a new car or truck and never will. Clothing is functional, kept clean and in good repair, but following the fads and fashions is just brainless. Sure, we do fun stuff, and we each have our own hobbies, but they are kept at reasonable levels. I'm sure all that makes me sound like a square, but I rather be a square with a healthy financial life than a non-square without.

This is how my wife and I choose to live as well. It's empowering to be debt free, and easy to make choices to stay that way the longer we are. Lately we've been doubling our mortgage payments while cash flowing 2 kids through college. Shiny new pick up trucks are tempting, until I see the price tag and realize what that much money can do for us.

 

[Lilhigbee]

I've mentioned it in other threads and will again here; the book "The Millionaire Next Door" is an excellent read for anyone who wants to manage their money better. It is not a how-to book, but provides real insight into how the people that have money got it and keep it. There are tenets discussed that apply to everyone with an income, no matter how big or small. I just bought another copy (secondhand) to give to a friend.

 

[P7M13]

Guns are my one favorite hobby, so vowing to not buy is like abstinence from sex. Not gonna happen.
I will buy. I will sell. I will shoot a crap ton and need to buy more.

Money is funny. If you focus on it, it makes your life miserable. Same too if you don't have enough.
Looking back on my life, I have recognized that I was happiest when I had no more than the bare essentials and wanted for nothing more. Simple life = simple pleasures = unfettered.

I figure by the end of 2017 that I'll be debt free. That's my goal at least.

 

[Lilhigbee]

"I've been rich, I've been poor. Rich is better!!"
"Money can't buy happiness, but I'd rather cry in a Ferrari."
"Money can't buy happiness, but it can buy enough whiskey to make you not care."

 

[CountryGent]

Lately we've been doubling our mortgage payments

+1 to this. I've always abhorred debt, even with low rates, but the mortgage was necessary where we are. But I've found doubling up, or coming close, really tears away at it fast.

 

[P7M13]

"I've been rich, I've been poor. Rich is better!!"
"Money can't buy happiness, but I'd rather cry in a Ferrari."
"Money can't buy happiness, but it can buy enough whiskey to make you not care."

K (or is it C? ), I consider you exemplary.

 

[Kruel J]

Since I live virtually debt-free, my outgoing monthly expenses are probably less than half of most my age. BUT.....a shiny new AR always gets me thinking.....just one more!

 

[Jamie6.5]

They say that for mental well-being and happiness, it's best to spend your money on experiences, rather than stuff.

So instead of buying another gun, buy more ammo and gas and go shooting more often!