No-Buy Year?

For 2020, I think I'm going to try doing a "no-buy year." I've seen different definitions of what "no-buy" means, so the concept is a little ambiguous. For me, this would mean only spending money on necessities (food, shelter, transportation) and replacement items (for toiletries, clothing, etc.). I'm also going to continue to spend money on gifts and experiences with friends and loved ones, although I'm going to try and show more moderation and opt for simpler, less-expensive options when possible.

The goal of this year is going to be to try and move towards a more minimalistic, less materialistic lifestyle. I think I'm a fairly frugal person, and I try to err on the side of not buying things needlessly. However, I've still accumulated a wide variety of possessions, most of which don't make me any happier. I want more time and energy to focus on what actually makes my life feel meaningful.

I think I also associate buying new things with a rush of pleasure and excitement. I shop pretty infrequently, but when I do I often come back with small impulse purchases that I don't really need. I usually buy several really cheap things in the name of frugality when it would be smarter to just invest in something more expensive that will last much longer. Hopefully, the no-buy year will help me become more thoughtful about choosing my possessions.

Since I'm in grad school and only work part-time, I'm hoping that this will help me get a better handle on my finances. I have very limited funds, and I don't want to drain them with unnecessary extra things. I've tracked my spending for the last couple of years and it's really opened my eyes to how "small" random purchases can really add up over time. Plus, there's a good chance I'll be moving this summer. If I can get rid of unnecessary things and limit my extra purchases, it'll make the moving process a lot easier.

Anyways, we'll see how this goes. I feel excited, if also nervous and uncertain. I'll try and post periodic updates! :)