Hi all! I am back with an update on my ‘No Buy 2021 Challenge. I know I’ve just posted a blog post about this recently (click here to read) but actually I’ve been on-boarding this challenge since the beginning of January.
If I have 1 word to describe how I felt about this ‘No Buy Challenge’ in January, that word would be EASY. I chose that word because thankfully I didn’t have to curb any urge of impulse-buying. I think this is because I was spending like a crazy person in December 2020 due to buying Christmas presents for family & close friends. It was Carmen’s first ever Christmas too! That’s why I went a little overboard with our Christmas celebration last year. But I didn’t regret any of the purchases made because buying gifts and gifting them to my loved ones give me joy.
So here’s the breakdown of my spending for January 2021!
- All of my total spending in January are essentials i.e bills, grocerries, not buying any from the ‘WANTS’ side of my brain. I’ve set that my monthly spending would be RM1,000 monthly and I’ve spent below budget. So that’s a WIN!
- However, I went overbudget for food delivery ie. Food Panda & Grab Food. Allocation set for this is RM50 but I overspent and it is RM70.80. Maybe my budget for food delivery is too low? I’m not sure but I’m still going to give this budget of RM50 a try for February. Trial and error is KEY in building my sustainable budget.
- As for my groceries budget, I spent lower than the set budget of RM300. Since I’m still living with my parents, my parents and I will stock up food for our pantry. So I don’t really have to fork out much for this category.
- I am responsible to buy for Carmen’s clothing & some other things that only need to be bought occasionally. So for January, I did not buy anything for Carmen as my husband will be the one who stock up Carmen’s essentials like diapers, her ointments.
- When it comes to Netflix subscription, I used to subscribe only when I need to watch shows from my bedroom. After a month, I would normally unsubscribe again because we actually have LongTV (android TV box) at home and it has all the shows from Netflix, Hulu, Amazon Prime, Apple TV. Basically, LongTV has it all. But my sister asked me if I want to be included in her subscription & we would share the subscription fees. I decided to be included so that my sister won’t have to cover the subscription of 4 screen package on her own. So now, I can watch Netflix if I’m Beaufort or in my bedroom. It is cheaper too, compared to ‘1 screen package’ that I normally pay for. So I put this expenses under the entertainment category.
Yay of the Month
Besides spending less than my monthly budget, I’ve also saved a lot too! All thanks to this instagrammer I’ve followed who is a senior of my colleague, Tantini which she initiated this #LOABossMoneyChallenge. It’s an easy way to save money whereby she will post on her Instagram story daily on the amount that needs to be saved. So all of us who are on board of this money saving challenge will save the amount mentioned DAILY.
January in Overall
I never thought that I would succeed in the 1st month of this ‘No Buy Challenge’. I was expecting I will fall into temptation and buy things but am proud to say, this girl is a strong headed! I even uninstalled all the shopping app like Zalora, Lazada, Hermo. However I still keep my Shopee and Cashback app for window shopping or when to buy things that I need. I’ve also added another investment portfolio. Previously I only invested in Gold and now I have invested with a new robo – advisor. I am so terribly new in investment but I have started to learn a thing or 2 about it. I’m hoping that I am consistent in my investment to let my money grow passively. Maybe I would do a blog post about it mid-year on my progress.
I have a feeling that February is going to be a tough one as it is CNY and I might spend extra on groceries. Regardless we are facing the MCO 2.0, CNY feast is still ON!
That’s all for this January update and I hope you enjoy reading them.