No Buying Update – Jan 2016

24460160865_19d38e07d8_k
Got to test out this Evil The Following, but didn’t buy one!

See my No Buying” post for the background on this.

The first month of the year is always the easiest to stay true to a resolution so I’m not getting too excited about my accomplishments yet. On the other hand you do have to start somewhere don’t you?

I’ll be reporting monthly on this resolution. Since I’m too lazy to type out everything I spent money on and I think it would be kind of creepy to send that info out into the interwebs I’m going to report on three things:

  1. Money spent on bikes
  2. Did I stick to my one 6 pack of beer a week budget?
  3. Did I meet my savings goal for the month?

The first two are areas I would be tempted to break the rules and bike stuff in particular is the area where I could do the most damage to my budget if I made an impulse purchase.

Meeting or exceeding my savings goal is what this challenge is all about so I figure that’s a good way to assess all the little details that would be a hassle to type out.

So how did I do in January?

  • Bike spending = $30 for a Reverb service and nothing else
  • Beer = I bought a 6 pack each week
  • Savings goal = achieved 124% of my savings goal this month

I didn’t break any of my other specific no buying restrictions or overspend on any budget items and frankly it was a lot easier than I thought it might be. Knowing I can’t buy anything meant I spent less time thinking about stuff I might want to buy. There is not much point looking up the specs on a sweet new frame if I know that I can’t buy it and something better will come out before 2017 anyways.

So one month down and I am on track for success! 🙂

Advertisements

2 thoughts on “No Buying Update – Jan 2016

  1. Good for you! But going for test rides is kind of like going into a bar in the middle of your 12 step program, eh? 🙂

    Another cure is to sell off all the stuff you haven’t used in a year, or a one-in-one-out policy: if I get a new jacket, I have to sell one— or better yet, two.

    Like

    1. @Dale – My general rule is not to test ride or try on any gear that I am not planning on buying. One exception to that rule is when a very rare bike that I do have an interest in buying at some point crosses my path. I got to throw a leg over a Lenz Lunchbox in Dec and now this Evil. Both bikes I would like to own and that I will likely never get a chance to ride again unless I buy one.

      Regardless of the 2016 No Buying plan I do intend to own a 29er FS MTB at some point down the road in 2017 or 2018. I’m just trying to save a bunch of $$ first to ensure my priority goals are achieved.

      At the very least I now know what size I would order and can avoid a costly mistake.

      To your other point I agree that selling existing gear and re-purposing that money for new gear is a great idea. I’ve made that one of the exceptions in my 2016 No Buying plan. If there is no net new cost I can buy whatever I want.

      Like

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s