Just in time

It’s been a long time since I’ve posted anything on here. Not that there’s nothing happening. On the contrary, we now all know how crazy 2020 has been. There have been times where nothing was happening (hello, lockdown) and moments when so many things were happening at the same time. Might be hard to write about all of those things at one time.

One significant change in my life is I’ve recently moved to a new 1 bedroom apartment. For the first time ever in my life, I have the entire place to my own. I’m definitely over the moon about it and enjoying every moment of it. On the other hand, it also means I’m now spending more for rent and utilities. Over the course of the year in anticipation of transitioning to living by myself, I’ve also been spending a lot on household stuff.

Which brings me to what I really want to write about. Independence and financial freedom also means one actually really need to think very carefully about spending.

I do have a good, stable job that provides me a decent income. Nothing excessive, but enough to live a comfortable life. However, I must admit I have not been managing my finances as well as I should be. At the moment I don’t have any substantial savings to cover me in case anything happens. I have some loans and liabilities that I still have to settle. I definitely could do much better.

Now that I have fully established all that I need (and want) for my home – furniture, cooking and dining equipment, and everything else – I think its time to re-train myself in regards to how I spend.

I have realised that I have the tendency to stock up on things – food, drinks, clothes, shoes, toiletries, makeup, among other stuff. Although this may mean I save on unit costs when I purchase, it also means I spend more ahead of time and some of it I don’t really get to use and end up as waste (which is especially true for food). This is one of the main things I know I have to change. I have to shift to a “just in time” or JIT purchasing – just buying what I need when I need them.

At the moment I’m also trying to go through and use all the stuff that I already have on stock. Its a bit overwhelming to see how much food I have in my fridge and in my pantry. I also have so much makeup and personal care products on hand. I have more than enough clothes, shoes, bags, and linen than I need.

Therefore, trying to be more mindful of my finances, I’ll have to train myself well in the next few months to do the following:

  • No purchases for clothes, shoes, and bags unless necessary
  • No new technology purchases
  • Try to use everything on stock, including food, toiletries, personal care products, and household products
  • Only buy things when needed
  • Only buy food if I’m sure I’ll cook or eat them, especially for perishable items

Hopefully if I’m successful retraining myself to manage my purchases and my household expenses, I would not need to deprive myself of other things like occasional dining out, entertainment, and travel.

Also, I probably will be trying not to spend too much as I start to prepare little gifts for my family and friends for Christmas. Would definitely still put a lot of love and thought into the gifts but not as much money, and hope the ones who receive them will not mind at all

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