How I Saved an Extra $4800 Since I Stopped Buying Jordans
I want to start off this post by saying I. LOVE. JORDANS. Growing up as a kid nothing felt better than wearing a fresh pair of Jordans with a nice outfit to school. Till this day I still wear them and I feel the same way lol. Like most kids who grew up on Hip-Hop/Basketball culture its a part of life. Michael Jordan is an icon that many inner city kids look up to. Nike and the Jordan brand designed some of the most beautifully crafted sneakers of all time. These shoes are classics that can be Retro’d or re-released literally forever.
In 2013-2014, I was buying a different pair of Jordans every month. Then one day I just got tired of em. The whole process of getting up early trying to order them online and websites crashing. Jordans being sold out within the first 15 mins. Plus its just a re-release of a previous pair anyway right? I already had enough pairs of shoes so I was just copping “for the culture”. On top of that, my priorities started to change, I now had rent, bills and a car note to worry about. So as of May 24, 2014, I’m officially retired from buying Jordans. The “Carmines” were the last pair I bought.
After I purchased the Carmines I started to increase my savings rate. Jordan’s were $170 – $180 retail per pair, with taxes and shipping it could easily reach $200 a month. I distributed this extra money I now had throughout my banking accounts. It’s been 24 months since then 24 x $200 = $4800. My net worth increased an extra $5k just by sacrificing one purchase per month for 2 years. An extra $5k that gives me a cushion whenever I have an unexpected expense that pops up. It feels good not having to rely on a credit card for an emergency. I had all four of my wisdom teeth removed in 2015 and even though I had insurance it was a pretty big bill. But I was okay because I budgeted and saved for moments like these.
Now if I can do this I’m sure anybody else can. It takes discipline and consistency. There are people living in poverty right now with 40+ pairs of Jordans.
“If you can stack Jordans you can stack a savings account it’s the same concept.”
Instead of Jordans compare this article to that extra pair of jeans/dress/heels/belt/video game etc… that you need every month. I’m not saying to give up buying what makes you happy. But if all you’re doing is buying things that make you happy, how are you building for the future? Are you on top of them student loans? Are you preparing for your car’s transmission going out? Are you preparing for that root canal you may need? That wedding your best friend is having in South Beach? Don’t be the person with all of the nice clothes and shoes, but needs a gofundme account whenever you meet financial hardship in life. You can’t pay for that medical bill with material items.
Even though I’m currently retired I might have to make a comeback like Jordan wearing the 45 for these Black/Metallic V’s
But seriously, for every pair of shoes you buy, put half or the same amount in an online savings account and watch how fast your money grows. Wealth is built month by month, year by year by reducing your spending and increasing your savings rate. You’ll be shocked at how much you can accomplish once you refocus your priorities. Being great with money is a marathon, not a race.