Mum who saved £25,000 through her no-buy year reveals how you can do the same in 2021

A MUM who saved £25,000 by giving up buying luxuries has revealed how you can do the same in 2021.

Lara Joanna Jarvis, who is known for her budgeting tips and tricks, sharing them on her YouTube channel, committed to a “no buy” year in 2019, only spending money on essential purchases.

And with husband Stuart also taking part the pair were able to save £25,000 to put towards their first home together, and in a new video, Lara has explained how you can do the same in 2021.

Speaking in the video, she says: “Congratulations if you have decided to do a no-buy year, or a no-buy month or even a no-spend weekend.

“I did a no-buy year in 2019 and I can hand on heart say it completely changed our lives – I cannot recommend it enough.”

Here we reveal her top tips for cutting down your spending in the new year.

Know your why

Write down your why, and put it on the fridge or even on your phone screen would be great.

This is your goal and it’s just going to keep you going whenever things are getting a bit tough, it’s going to motivate you.

Go through your bank statements

Sit down, get your bank statements and look through them. This is so shocking – I was mindless with my spending and it all adds up and you don’t realise it at the time.

It shows you exactly what you’re spending your money on and hopefully some places where you can pull things back.

Lara’s new year spending habits

  • Ditch impulse purchases – always sit on a purchase for 30 days, you will never still want it
  • Take a food inventory before you do your shop – you probably already have it
  • Shop your wardrobe – You have plenty to wear in your wardrobe 
  • Meal plan – Meal plan, meal plan, meal plan!


Look at dates ahead

Go through your calendar and look at all the dates you’ve got coming up.

Whether that’s a birthday or a wedding these are the times you’re going to be a bit more lenient and make exceptions.

Do your things spark joy?

Take a look at the things you’ve bought and ask yourself that question. Do they still make you feel good, is it worth having it in your life, is it bringing you value?

Often we buy things on an impulse and it probably doesn’t spark much joy after a little while.

Time to declutter

Less stuff means more money and more time to think about other things in life.

Think about things you can declutter around your home and that will hopefully inspire you not to buy more things and add to the stuff you already have.

Things that save money long term

Things you can buy that will save you money in the long run.

Things you may need in six months time, so you don’t have a stumbling block when you get there.

Set your rules

These are your rules, don’t do anything that you don’t wanna do and make sure they fit how you want this to work for you.

Think about the things you’re not going to be able to buy and the things you are allowed to buy.

Work out if this includes experiences or holidays – for me I choose experiences over little things, those are my acceptions.

Set your expectations budget

For example if you allow yourself to go out once a month for a meal with friends, set your budget for that meal, so you’re still being mindful.

These are your rules, don’t do anything that you don’t wanna do and make sure they fit how you want this to work for you

Tell your friends

You need to put it out there, because if you’re saying you can’t go for dinner every time they ask they’re going to wonder what’s going on.

Just prepare them, tell them your why and they’re going to be really supportive.

Look at your overspending

Once you’ve looked at your bank statements look at the things you can cut from your budget – your unnecessary purchases.

Go through all of your bills and make sure you’re paying the best rate for all of your tariffs.

Spend all your new time!

You’re going to have loads of extra time.

You could connect with old friends, get a hobby, learn a skill, anything like that helps stop you from falling into bad habits with all of this extra time on your hands.

In other money-saving news, Lush fans are showing off their sale hauls worth thousands.

And people are showing off their Boxing Day bargains including a £65 Tu coat for just £1 & Pandora jewels down from £80 to £24.

Elsewhere, these are the Boxing Day beauty sales starting NOW with up to 50% off, from Soap&Glory to Urban Decay.

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