Following is the full text of personal finance journalist Michelle McGagh’s talk titled “My No Spend Year” at TEDxManchester conference.
Michelle McGagh – TEDx Talk TRANSCRIPT
Hi. I hope you all had a bullet coffee, or bulletproof coffee, to keep you going through the last of the day. Um, okay.
So imagine the scene: You’ve had a really hard day at work; you have got to get something for dinner on the way home; you pop into one of those mini supermarkets that are on every single corner; you think, “I’ll get some of that fresh pasta and sauce”; you go in, get your shopping. By the time you leave, you’ve spent fifteen quid.
You’re not quite sure how you’ve done it, and it’s really annoying. If you’ve ever done that, you’re not alone. That was me.
I wasn’t in loads of debt, apart from my mortgage. I wasn’t racking up purchases on credit cards. I’m not a spendaholic.
But my money was frittering out of my account, and I had nothing to show for it, so I decided to do something about it. I decided to stop spending for a year.
But back up a little bit. Because it wasn’t just supermarket trips and Tesco’s that made me stop spending, it was kind of a general discontentment with where my money was going and my role as a consumer.
And it was kick-started when me and my husband bought a house, and it needed quite a lot of work doing to it. And we decided to put all our stuff in one of those really expensive storage units.
And we were living out of those little plastic drawers you get from B or something like that. And we had a few clothes, our pots and pans, and our bikes. And we’re all right, you know, we’re fine.
We’re living an okay life, a bit dusty in the house. And now and again, we’d have to go back to the storage unit. There was a lot of stuff in that storage unit. Admittedly, most of it was mine.
And it was rammed. I wouldn’t even be able to tell you what was in the back of it. Until one day, I went there, and I saw a box, big box, about this big, and on the side of it, in my own handwriting, it said, “NOT NEEDED” in capital letters.
It struck me! Then why the bloody hell did I have it? I didn’t even know what was in the box, and I still don’t know now. It’s long gone.
And I went home, and I googled a really quite embarrassing phrase, actually. I googled “get rid of stuff” because I needed to be told how to put things in a bin or at least maybe be given permission to do that.
And as Herb mentioned, all these sites came up, the minimalist, all these sites came up, these people saying, “I got rid of all my stuff, and it was amazing, and I feel great, and I’m so unburdened.”
I thought, “Yeah, this is what I want. I don’t want the big storage unit for the stuff. I want to live a life that these people are talking about.”
So my husband was totally on board, probably because most of that crap was mine anyway. We started getting rid of our stuff; we were selling it, we donated it, we gave stuff to friends and family.