My budget experiment or as I love to call it; project is something I have wanted to do for a while now. Once I even attempted on doing it without all the paperwork as they say but it turned out my willpower wasn’t strong enough for it. Let’s see, maybe it has grown since then.
So the whole idea of this project, unlike the realization of it, is very simple. You spend as little money in a month as possible.
You buy only the things you really need and can’t live the month without it, and then you buy the cheapest version of the product.
And I know that there are quite a lot of people living that way day to day for years, but I’ve been lucky enough not to have the need to buy the cheapest possible coffee for home even never really swimming in money either.
But this project will test me in more than just one way. That’s why I mentioned it sounds way easier than it’s done and that’s why I am pretty unsure of the result whether I’ll be able to stick with it or not.
Three most difficult factors of it are the most obvious ones.
- You buy everything at it’s cheapest, therefore you will buy a lot of products that might not be as good in quality as you’re used to and might not taste/feel/affect you so good.
- For a whole month you don’t go hang out with friends to cafés or other activities that maybe you’re already used to, you don’t drive around or go shopping just for fun.
- But the biggest one – You have to be very strict on yourself to define what you really need vs what you really want because more often than not I’ve seen people misusing the word of “need” in this case. In so many cases there are things we find as our daily products or something we just automatically buy or refill but perhaps we should not consider it as a necessity.
But we can’t forget that there should be some rules to this project as well, because spending as little as possible can mean so much to so many people so here are some basic rules :
- Buy the cheapest version of the product, no matter how little is the difference
- Don’t buy any books or clothing
- Stick with the “not a necessity” list
- Buy product only when there is literally nothing left from the previous package
- Write down every days update
- Have a limit that can be spent per day
- Don’t eat outside or drink alcohol
Rules can be added or taken away as well as adjusted but the main idea should be clear by now.
Also of course, there are things that should be considered dearly like the fact that I am from Latvia, where moneywise things are quite different from for example England. In addition, this is regarding the money you have after you pay your bills (and by that, I mean rent and things like that, not your Spotify subscription)
So there you go. This is the way I chose to walk into this new year of 2020 and even if the first days haven’t been so bright for reasons that will be mentioned later, I am full of hopes and determination.