Towards the beginning of the year I decided to set a goal of not spending any money on clothing. I didn’t set this goal on the first of the year so I did spend a whopping $3.49 on a new skirt in January but after that purchase I vowed not to purchase anything else. I didn’t actual post about the goal until the middle of the year but I had the goal in my head.
Now to be clear, I have never been a huge spender on clothing but it can be surprising how one little purchase here and there can add up which is why I set the goal. Plus, I have enough clothes so this goal has really shown me the true different between a “want” and a “need”.
There were times this year that I did want something new, including the last day of the year. As the summer rolled around I wanted some more fitness clothing. But I have plenty already so this really was just a “want”. I couldn’t justify anything as an actual “need” and thankfully this goal kept me in check. Then as fall rolled around and some of my current clothes weren’t fitting all that well I really wanted to go out and buy some cool leggings. Was this a “need”? Well no, because I do have enough clothes that do fit so it really was just a “want”. And then only a couple of days ago on 12/31 I took a stroll downtown. It was a chilly day so I cut through the mall and walked past many great sparkly items that would have been great for the New Year’s celebration we were going to later that night. But really, would a piece of clothing that I wanted for only one night really add any value to me life? No! I was truly thankful that I had this goal as it did help to keep me on track and kept me from needlessly spending money.
Having goals is one of the biggest factors in making this journey towards FI work. Whether it is the massive goal of FI or just a small goal like this one, if I have the goal written out then I am going to do what I can to make it happen. This clothes shopping ban goal probably only saved a couple hundred of dollars but it does contribute to the big picture and the ultimate goal of financial independence. So if you find that the idea of saving a large percentage of your salary so you can be financially independent to be a daunting goal, then just set little manageable goals like this. Because it is true that every little bit saved does count.