Conscious Consuming to Lower Your Spending
Conscious consuming includes understanding the value of what you are buying, beyond its current price tag. When you spend your money – your life energy – make sure you’re getting a good return on that investment.
Anticipate Needs
Be aware of what items you might need in the near future; this kind of lead time will enable you to take better advantage of sales.
Assess how much of the price of an item is due to demand: many things that have a lot of “hype” are marked up when they first go on the market, but later prices drop considerably.
Case Study: Chris’ On-Sale Toilet
One of the toilets in Chris’ house had one too many toys “accidentally” thrown down it over the years – it was on its last leg. One more fix worked, but Chris started watching the circulars for sales. She bought a low-flow toilet on sale and had it waiting in the garage for the next breakdown. No need for an emergency run to the hardware store to pay top-dollar!
Look for Quality
Do some research on the item you’re planning to buy. Is it made of strong, durable materials? Is it well crafted? How long will it last? Go to the library, the internet or “people in the know” to get recommendations on the best brands and models, and buy from companies that make quality products that last. Look at additional costs related to efficiency – will it increase your electrical, fuel or water expenses? How much will it cost to maintain? Sometimes spending more money for a high-quality item can save money in the long run.
Consider waiting for second-generation products. New models are not always tested in realistic conditions. Think about waiting until consumers have given enough feedback for the company to make improvements. Often second-generation products are also priced more moderately.
Evaluate the Value of Add-ons
Do you really need or want all the bells and whistles that come with some items? Can the more modest model meet your needs (and cost less) than the fancier one? Assess your real needs and determine the appropriate version for your situation.
Case Study: Jamie’s Replacement Mobile Phone
Jamie had a second-generation mobile phone for nine years before it finally stopped working. At that time a new gadget was being heavily marketed that included all kinds of new functions. Although it seemed like a hot item (at premium prices), Jamie noted that in the past nine years those fancy displays and functions had not seemed necessary. So was there really a need for them now? Buying a refurbished phone that was the same high-quality brand as the previous one not only kept that phone out of the waste-stream, it also saved hundreds of dollars worth of Jamie’s life energy.
The Value of Minimizing Spending
This is not about budgeting and deprivation. It’s about using your intelligence and being resourceful so as to live in alignment with your sense of fulfillment and your values. It’s your life energy you’re saving. Minimizing your spending will result in a natural and increasing tendency toward greater fulfillment and greater integrity. Spending less can feel better because it:
Case Study: Chris’ Re-orienting Spending According to Priorities
Anticipate Needs
Be aware of what items you might need in the near future; this kind of lead time will enable you to take better advantage of sales.
Assess how much of the price of an item is due to demand: many things that have a lot of “hype” are marked up when they first go on the market, but later prices drop considerably.
Case Study: Chris’ On-Sale Toilet
One of the toilets in Chris’ house had one too many toys “accidentally” thrown down it over the years – it was on its last leg. One more fix worked, but Chris started watching the circulars for sales. She bought a low-flow toilet on sale and had it waiting in the garage for the next breakdown. No need for an emergency run to the hardware store to pay top-dollar!
Look for Quality
Do some research on the item you’re planning to buy. Is it made of strong, durable materials? Is it well crafted? How long will it last? Go to the library, the internet or “people in the know” to get recommendations on the best brands and models, and buy from companies that make quality products that last. Look at additional costs related to efficiency – will it increase your electrical, fuel or water expenses? How much will it cost to maintain? Sometimes spending more money for a high-quality item can save money in the long run.
Consider waiting for second-generation products. New models are not always tested in realistic conditions. Think about waiting until consumers have given enough feedback for the company to make improvements. Often second-generation products are also priced more moderately.
Evaluate the Value of Add-ons
Do you really need or want all the bells and whistles that come with some items? Can the more modest model meet your needs (and cost less) than the fancier one? Assess your real needs and determine the appropriate version for your situation.
Case Study: Jamie’s Replacement Mobile Phone
Jamie had a second-generation mobile phone for nine years before it finally stopped working. At that time a new gadget was being heavily marketed that included all kinds of new functions. Although it seemed like a hot item (at premium prices), Jamie noted that in the past nine years those fancy displays and functions had not seemed necessary. So was there really a need for them now? Buying a refurbished phone that was the same high-quality brand as the previous one not only kept that phone out of the waste-stream, it also saved hundreds of dollars worth of Jamie’s life energy.
The Value of Minimizing Spending
This is not about budgeting and deprivation. It’s about using your intelligence and being resourceful so as to live in alignment with your sense of fulfillment and your values. It’s your life energy you’re saving. Minimizing your spending will result in a natural and increasing tendency toward greater fulfillment and greater integrity. Spending less can feel better because it:
- lessens the pressure on earning
- frees up money and time for things that result in lasting satisfaction.
Case Study: Chris’ Re-orienting Spending According to Priorities
In this chart we see that Chris and her family’s expenses dropped immediately upon starting the program and then averaged out at a level that was still uncomfortably close to the amount of income that the family was generating.
So the family made a big decision that utilized several aspects of Step 6, combining both conscious spending and elimination of unnecessary spending. They decided to renovate their vacation cabin and make it their full-time home. Renovation costs account for the large spike in the expense line on their wall chart. Chris found a good (and less stressful) job in that new location, they sold their suburban home and moved to their favorite place. Although they didn’t make a profit from selling their home, this move eliminated a lot of debt and resulted in a big shift in their savings.
With less time and money spent on travel between work and two homes, their work/life balance greatly improved. This move provided the impetus to develop home-maintenance skills and build new community resources like tool and garden co-ops, resulting in even less spending. At about the same time they traded in their expensive new “career” car for a less glamorous but more gas-efficient used one, thus eliminating a car payment.
These shifts resulted in a very comfortable gap between their income line and their expense line – they were finally living within their means! They eliminated the clutter and chose fulfillment instead.
Conscious Actions
Here is a sample list of actions that can minimize or reduce spending.
Which ones could work for you?
Conscious Elimination
Conscious Consuming
So the family made a big decision that utilized several aspects of Step 6, combining both conscious spending and elimination of unnecessary spending. They decided to renovate their vacation cabin and make it their full-time home. Renovation costs account for the large spike in the expense line on their wall chart. Chris found a good (and less stressful) job in that new location, they sold their suburban home and moved to their favorite place. Although they didn’t make a profit from selling their home, this move eliminated a lot of debt and resulted in a big shift in their savings.
With less time and money spent on travel between work and two homes, their work/life balance greatly improved. This move provided the impetus to develop home-maintenance skills and build new community resources like tool and garden co-ops, resulting in even less spending. At about the same time they traded in their expensive new “career” car for a less glamorous but more gas-efficient used one, thus eliminating a car payment.
These shifts resulted in a very comfortable gap between their income line and their expense line – they were finally living within their means! They eliminated the clutter and chose fulfillment instead.
Conscious Actions
Here is a sample list of actions that can minimize or reduce spending.
Which ones could work for you?
Conscious Elimination
- Get cash when you’re at the bank or grocery store instead of at Automatic Teller Machines that charge fees.
- Make holiday presents for family and neighbors throughout the year rather than buying things with “debt cards” at the last minute.
- Cancel “Comprehensive and Collision” insurance on that dented old beater you’re still driving.
- Put enough of a down-payment on your house purchase to eliminate mortgage insurance (usually 20% of value).
Conscious Consuming
- Buy vegetables and fruits that are “in season” (or better yet, buy seeds and pots to grow them yourself on the patio!)
- Buy last year’s model or a refurbished original.
- Buy one quality item that can serve several different purposes, rather than a separate item for each purpose.