The Savvy Life

This New Year a news story caught my attention. It was about The Compact, a group of environmentally concerned consumers who vowed to buy nothing new for one year, besides daily essentials. Everything else they either try to buy used, have repaired, or barter for in some way. According to their Yahoo Group website, The Compact has three objectives:

1. To go beyond recycling in trying to counteract the negative global environmental and socioeconomic impacts of U.S. consumer culture, to resist global corporatism, and to support local businesses, farms, etc.

2. To reduce clutter and waste in our homes.

3. To simplify our lives.

All noble and budget savvy goals! It’s an interesting social experiment, one that encourages us to think about how our spending habits affect the environment, our community, and our lives. It also makes us ask an important question: how much of our spending is based on what we really need, and how much of it is retail therapy?

Of course, there’s nothing wrong with a little retail therapy once in a while, as long as it’s in line with our overall budget. So while the spending “stop sign” of The Compact might be extreme for most people, a few bad habit “speed bumps” could be useful to slow down impulse buying. Here are four speed bump questions to ask yourself before you make that next non-essential purchase.

1. Do I already have something that will work?

A friend recently confessed to me that every time she loses something, she buys a replacement. Of course, after she brings that new necessity home, she finds the old one! (Now she has three wine openers.) Do you remember those boxes you packed away when you moved? What’s in those boxes anyway? Plan a weekend project to go through the storage closet and see what’s really in there. You might be surprised at what you forgot you already have. You’ll clear the clutter and simplify your life at the same time.

2. If it’s broken, can I repair it?

I love my couch. Its big wide cushions are comfortable and the tan chenille is so soft. My cat loves it too, and due to her affections, the couch has been looking rather dirty lately, the cushions getting a little saggy. But a new living room set would blow the budget for my summer vacation. When I looked into upholstery cleaning and repair, prices weren’t cheap, but they were much less than the cost of new furniture. I discovered I could afford to give my beloved couch a few more years, go on my vacation, and save some space in the landfill all at the same time.

3. Should I sleep on it?

So often, our spending is on impulse. You see that perfect sweater and just splurge. But when you get it home, it goes in the closet and it’s forgotten. A good rule of thumb when considering a non-essential purchase is to sleep on it. Let that buying impulse pass. If you’re still thinking about that sweater next week, go back and get it. But many times, it’s out of sight, out of mind.

4. Do I really love it?

If you don’t love it, don’t buy it. It’s my new shopping mantra, and sometimes it can be just that simple. Why clutter our lives, our homes, and our landfills with items we can live without? By taking a moment to ask ourselves a few questions before we buy, we can keep our financial lives healthy, and even do our small part to make the world a better place.

Visit The Compact for more information.

Rosemary Picado is a freelance journalist and technical writer. She has worked as a columnist for the San Jose Mercury News. She lives in San Jose.