2020 has turned out to be an interesting year not just for me, but for most people I know, and the world at large. If there’s one thing I can say about how the year has progressed, it’s that we have been forced to evaluate or re-evaluate our choices and connections.
One of the bigger reevaluations I’ve done is on personal finances and spending.
It isn’t to say of course, that I’m only thinking about this now. Personal finance and spending is something I’ve been thinking about since I made the decision to slow down in my working life a year or so back.
With a slow-down at work, naturally, I had to expect a slow-down in income earned. With that in mind, I adjusted my spending accordingly.
But even then, 2020 clearly had different plans, for many plans and projects were shelved, my income has certainly been impacted, and my spending pattern has changed again.
So, I’m curious. With everything that’s happening in the world today, has your spending changed? If it has, how and what are you spending more on lately?
I’m buying more food
I’m actually spending more on food! Well, food to cook with at any rate. When we were locked down and forced indoors, I actually found that a large portion of my budget went to food. I was experimenting with all sorts of recipes, and I was enjoying myself.
The only thing I did not venture into was baking of sweets LOL! I’m no baker, and my baking exploits are best enjoyed by canines (I make dog biscuits!) 😀
Now that life is almost back to normal here in Malaysia, I’m still not dining out as much as I did before the pandemic struck. But I’m still cooking, and food still forms a large portion of my budget.
I’m buying more household appliances
What staying at home a lot has shown me is that we sometimes need gadgets to make our life easier.
In the span of a couple of months, I’ve found myself with a new airfryer and a cordless vacuum, both of which I’d coveted for a while, but not considered buying till recently.
While it’s been debatable how much I get out of the air-fryer (the size is what puts me off using it sometimes), I’ve gotten my money back from the Karcher VC4i Cordless Vacuum, and then some!
I run it practically everyday, and it keeps my floors clean and dust and pet-hair free. Not sure why I waited so long, but at least I did, and got a good deal on a good vacuum! 😀
I’m spending more on my Dog
While I don’t spend much on dog treats, since Sherlock taste-tests every new dog treat that’s put out of our kitchen, he is utterly spoilt otherwise. I’m sure most pet-parents will understand 😀
I get him new toys now and then, and he’s got a new bed (or two!), and even a new leash and collar! LOL! 😀
My justification was that I am trying to train him, and I was buying things that were supposed to help. Well, that, and because he’s a spoilt little brat that’s what 😛
On the flipside, what I’m NOT spending on are things I used to spend fairly lavishly on in the past.
I’m not spending on clothes
The last clothing items I purchased were some activewear because I am out a lot for hiking or on walks, and I wanted something that would be comfortable and dry quickly.
I otherwise have noticed that my wardrobe is barely touched. I live in the same indoor clothing all the time, and only pull out the nicer clothes for the times I have meetings or go out (which is rare).
I don’t go into malls very much anymore, and I’ve found that my spending at Uniqlo has dropped drastically! LOL! Time was, I’d pop in every now and again when I’m at a mall just to see what on offer. Quite often, I’d leave with a little purchase or two.
But I haven’t bought anything from Uniqlo in months, and that is quite an achievement for me! 😀
I’m not spending (as much) on beauty products
This isn’t something I’ve only just decided now. It’s an on-going promise to myself to use up what I own as much as I can, before buying more. I have a few back-ups of favourite items, so I’m working through those first.
I barely put on makeup anymore, so buying new makeup is not high on my priority list. I recently rediscovered a box of lipsticks I’d forgotten I owned, and that’s made me happier than buying a whole new collection! 😀
That said, I’m also becoming more particular about where I spend my money and what I spend my money on when it comes to beauty products.
There was a time when I’d be a little more lavish with what I spend on. I’d not balk at dropping up to RM600 for a serum, for example, even if it’s just to try it.
These days, being a little more mindful of my spending and money in general, I am more interested in being consistent. Instead of dropping a large sum of money on one item, I’m more likely to try to spread that sum of money across a few items, or on one cheaper item over a few purchases.
I’m more interested in seeing my money stretch.
However, I’m not exactly going to spend only on budget beauty products. I am still prepared to spend good money on beauty products, but I’m just more careful where that money is being spent. My age of experimenting is almost over. I’m sticking to tried and true brands and ingredients that I recognise.
I’m not spending on luxury designer products
This is something I can safely say I’m past.
Those of you who have been with me from the early days will know about my penchant for luxury designer bags. I am a bagaholic, and not exactly proud of it, but embracing it 🙂 However, I now call myself a retired bagaholic.
I have amassed a nice little collection that I’m happy with.
I made the decision a few years ago that I’d stop buying luxury designer products, and I’m happy to say that I have. I’m comfortable and happy with what I already own, and I’m making the effort to ensure that they all see the light of day from time to time.
Another thing I’m clearly not spending on is travel. I am quite an avid traveller, and make it a point to travel overseas a few times a year, be it near or far. I had quite a grand plan for a nice holiday this year, but it has been put to bed.
With 2020 putting a crimp in those travel plans, I’m just putting the money aside instead. I’m not sure when travel will ever be the norm again, or when we can travel further than our own borders, but I’ll make sure my little travel fund is ready when that time comes 🙂
So, that’s me, and how I’ve reevaluated my spending habits.
How have your spending habits changed? Have they?
I’m curious, because it’s not just the pandemic that’s putting a spanner in our works, it’s because most of us are growing up and out of our early excitement of indulging in beauty products. I’m sure many of you have had priorities change over the years too 🙂