Underconsumption 101 (what it is & how to save money)
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Underconsumption 101: How to Be Frugal and Save Money
Some people are starting to realize that less can truly be more, and they’re embracing a lifestyle of underconsumption. They’re being more intentional with their purchases and finding greater satisfaction in what they already have. So if you like the way that sounds, here are a few tips to help you spend wisely and make every purchase count.
1. Fixed shopping days
Limiting your shopping to specific days of the month can significantly reduce impulse purchases and help you plan better.
For instance, you might decide to only shop on the first or third Saturdays of each month so that you’re not constantly exposed to sales that tempt you to buy things you don’t need.
To start, create an ongoing list of items you’re thinking about buying. So if you see something you want and it’s not a shopping day, you’ll put it on your list.
One good thing about this approach is that between now and the next shopping day you can really think about whether an item is something you truly want or need.
Aside from saving money, this method can also reduce clutter since you’re not constantly bringing in new items, as well as end those internal debates about whether to pop into a store to see what they have.
2. Reverse shopping list
Along with making a list of what you need to buy, you can make a list of things you already own and love, using the notes feature on your phone.
This helps you appreciate what you have, as well as remind you of the stuff you already own. Your list can include clothes, kitchen gadgets, books, or beauty products.
You’ll want to keep it handy and refer to it before shopping to cut down on duplicate purchases. So when you see something in a store that catches your eye, take two minutes to glance at your list. (Related: Get you mindful spending MONEY MINDSET BULLET JOURNAL and stop feeling like you can’t get ahead).
3. Use-it-up month
The idea is to commit to using up all the half-full products in your home before buying new ones. This includes toiletries, cleaning supplies, pantry items, and anything else that tends to accumulate over time.
Go through your bathroom, kitchen, and storage areas, and make a list of all the products that are half-used or nearly empty. Then, for the next 30 days, focus on using these items up completely before purchasing any replacements.
The benefits are numerous: first and foremost, it reduces waste. Since many of us have a habit of buying new products before finishing the old ones, you’re able to maximize the value of each product and get your money’s worth.
4. “One-in, One-out” policy
The rule is simple: for every new item you bring into your home, you must remove one item. This keeps your purchases in check and makes you think twice before buying something new.
By having to remove something, you’re forced to evaluate whether the new item is truly necessary and worth it. Plus, knowing you have to part with something to make room for a new item makes you more selective about your purchases, which could lead to buying higher-quality items that you love and use regularly.
It can also promote a sense of balance and order in your home because everything you own will have a purpose and a place.
5. 10-item limit
Putting a 10-item limit on categories of items in your home is another way to practice underconsumption.
The idea is to limit yourself to only owning 10 of any specific category of item, such as shoes, coffee mugs, or T-shirts. So choose the 10 items you love the most and use regularly, and let go of the rest.
This encourages you to use and appreciate what you have, rather than constantly seeking out new additions.
6. The “no duplicates” rule
The “No Duplicates” rule means you refrain from buying multiple versions of the same item, especially if they’re not everyday essentials. So before making a purchase, take stock of what you already own. If you already have an item that serves the same purpose, resist the urge to buy another.
For example, if you already have a perfectly good black jacket, do you really need another one?
When you stick to this rule, you’re less likely to accumulate unnecessary items that take up space. It also saves money, as you’re not spending on things you don’t need. Additionally, it encourages you to take better care of what you already own. When you don’t have multiple backups, you’re more likely to appreciate and maintain your current one.
7. The two-minute rule
When deciding whether to buy something, take two minutes to think about how often you’ll use it. If you can’t see yourself using it regularly, it’s probably not worth the money.
During those couple of minutes, you can also consider whether it’s a necessity or just a want. This short pause can make a big difference in your decision-making process because many purchases are made on a whim. Additionally, it encourages financial responsibility.
The money you save by not making an impulse purchase can be used for more important things, like paying off debt, saving for the future, or investing in experiences that bring joy.
Underconsumption FAQ
What is underconsumption?
Underconsumption is the practice of intentionally buying less and focusing on making the most of what you already own, rather than constantly acquiring new items.
How does underconsumption save money?
Underconsumption saves money by reducing impulse purchases, minimizing the need for replacements, and encouraging you to use up what you have before buying more.
What are the benefits of underconsumption?
The benefits of underconsumption include saving money, reducing clutter, minimizing waste, and fostering a deeper appreciation for the items you already own.