2781: More Is Less - Why I'm Going On A No Buy by Helene Massicotte of Free To Pursue on Frugality

[00:00:00] This is Optimal Finance Daily, Episode 2781. More Is Less Why I'm Going On A No Buy by Helene Massicotte of Free To Pursue.com. And I'm your host and personal finance enthusiast, Diana Merriam. Now let's get right to today's post and start optimizing your life.

[00:00:25] More Is Less Why I'm Going On A No Buy by Helene Massicotte of Free To Pursue.com. As it became clear to me that Mr. Freedom To Pursue and I were finally reaching a significant

[00:00:40] financial milestone last year, I started taking my foot off the savings gas for a bit and ramped up my consumption. I won't deny that it was fun at first. You know that feeling that comes from being a more reckless version of yourself, of throwing caution to the wind?

[00:00:58] Of course, my version of this wasn't so extreme, but you get the idea. We never consumed more than the income we made in a given month during this time. But I had no restrictions on what was reasonable as an expenditure.

[00:01:13] I bought a bunch of stuff that my spoiled brat self wanted to indulge in. And I'll admit it was fun at first. But here's the catch. It didn't stay as fun as it was during the first few indulgences. The experience lost its new car smell rather quickly.

[00:01:32] The reality is that in general, the more we have, the more we want, the less we appreciate each additional belonging, and the less grateful and happy we are with what we have, both new and old. Number one, more begets more. The appetite for more starts off quite mild.

[00:01:55] At first it's a, this would be nice to have feeling. And as long as we don't indulge, it often goes away, replaced by the next preoccupation or interest. But if we feed it even a little bit, the appetite for stuff grows.

[00:02:12] Our desires grow as we fulfill them, and they take up more of our psychological space, precious real estate that could definitely be put to better use in other parts of our lives. I found myself wanting more every time I got more.

[00:02:28] I found myself filling my head with ideas of grandeur that have little to do with the pragmatism of real life, let alone of a life well lived. Logically, I knew that more of the same would not make me happier, but the thought of the

[00:02:44] delight I'd experience at the time of acquisition was a powerful drug. And the result, if left unchecked, is more stuff still. Number two, more stuff means less appreciation. Minimalists have tapped into an important part of happiness, the uniqueness and value of a single object.

[00:03:06] As the Little Prince character shared in the book by the same name, caring for but one single unique rose is more meaningful to the caregiver than having thousands of them, despite the fact that having thousands would equate to having more or to being more successful.

[00:03:25] Psychologically, owning a single cherished item is more precious to us than having dozens of similar items that sit on our shelves, in our closets, in our storage lockers, all but abandoned in both thought and reality.

[00:03:40] Having more than we can use and more importantly appreciate is the most wasteful, miserable thing we can do to both ourselves and our stuff. Okay, and to Mother Nature too. We appreciate less every single similar additional belonging we bring into our space.

[00:03:59] I felt that loss of appreciation firsthand and can say that I enjoy the experience of acquiring less than I did at the beginning of this consumption escapade. Looking back at what I've been doing, I wonder how much of the purchasing was for the object

[00:04:14] of my desire and how much of the purchasing was to feel the rush of the act of purchasing itself. And this applies both to acquiring new and secondhand items. Just because it's a deal doesn't mean it's a good idea to get it.

[00:04:30] I started to better understand why hoarders do what they do. That emotional connection with the act of acquiring can be intoxicating and it can be a great distraction from what else we might be feeling about our lives.

[00:04:45] And it's hard to turn that feeling off as it builds momentum. Like a drug addict, we can develop the need to intensify it because it takes a bigger buy or a bigger find to experience the same rush. Damn you hedonic adaptation! And number three, more stuff, less happiness.

[00:05:06] Getting stuff is work. Going from near zero to 60, I've rediscovered how much effort consumption is. It takes hours to go shopping for anything other than the essentials. We have to research purchases, look for deals, visit stores to see the items in person.

[00:05:24] Nevermind making the money to buy this in the first place. It can turn into full-time work if we let it. Owning the stuff we've acquired is also work. We need to organize it, store it, clean and maintain it, learn how to use it, use it,

[00:05:40] fix it and ultimately dispose of it. It can feel overwhelming. More overwhelming still is to think of everything we could have been doing with the time we spent involved in acquiring, using and disposing of stuff.

[00:05:54] Looking back at the last number of months, I think of all the books I could have been reading, all the conversations I could have been having with family and friends, all the activities I could have been involved in, including various forms of self-care. That's the stuff of happiness.

[00:06:10] Everything else is just noise. I want more of that stuff back into my life pronto. Introducing the no buy. That's why I'm going on a no buy. What's a no buy? It means not buying anything that's a want and not a need in the strictest sense of the

[00:06:29] word. I've decided that for exactly seven months, I'm not buying anything that isn't a regular consumable we need to replenish because we regularly run out like groceries and gas. Why do I say I instead of including Mr. Freedom to Pursue?

[00:06:47] Because I'm the head of procurement for this household. And out of the two of us, I'm also the spender. Mr. Freedom to Pursue might as well be called Mr. Frugal. Yup, when it comes to spending, the buck stops here. Here are the rules for this no buy.

[00:07:05] Buying only as much as we can use. Stocking up on staples only, not nice to haves. And making good use of what we already have by shopping our stashes of current household items instead of looking outside of our current belongings to scratch the itch of wanting to acquire.

[00:07:25] Selling or donating things that don't serve us. Opportunistically, I need to reclaim my time spent managing stuff for a bit and hopefully not replacing computers and electronics, iMac, MacBook and iPad that are increasingly going on the fritz until this fall.

[00:07:44] I'm hoping this seven month no buy will help me return to my regular lifestyle, including my baseline level of appreciation for just how lucky we are to live in constant abundance and that I don't need much of anything I don't already have to be content.

[00:08:01] That is how I intend to turn my current more is more back into less is more. And ironically, this project and my hopes for it make me feel like a kid at Christmas. So exciting.

[00:08:18] You just listened to the post titled More is Less Why I'm Going on a No Buy by Elen Massakot of freetoperusew.com. And I'll be right back with my commentary. Have you been frustrated with personal finance apps that are cluttered with ads, difficult to use or rarely updated?

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[00:09:43] I think we can all benefit from some self-imposed restriction for a short period of time to see what we can learn about our habits and preferences. But unless you're in a dire financial position, be careful about depriving yourself too much. Not all consumption is created equal.

[00:10:02] Most of the time when we talk about needs versus wants, we're thinking about things like the new pair of shoes that we want but don't really need. But what about something like a musical instrument? It's not a true need like food, shelter or transportation.

[00:10:18] But this is an example of a possession that can be a gateway to new skills and passions that enhance personal development and satisfaction. Life is dynamic and needs and desires change. Being overly restrictive can lead to frustration and a sense of deprivation.

[00:10:37] Instead, a more flexible approach that encourages thoughtful and purposeful purchasing might align better with varying individual circumstances and preferences. It promotes a sustainable balance between enjoying material comforts and practicing mindful consumption. Sometimes I'm asked what I would do differently when I was saving and investing 60% of my income.

[00:11:02] Looking back now, I'd probably invest a little less and spend more money exploring interests, personal development and hobbies that connect me with others. But that should do it for another edition of Optimal Finance Daily.

[00:11:16] I'll be back tomorrow as usual, so I'll see you there for the Wednesday show, where optimal life awaits.