As we head into the New Year, people are looking for ways to tighten up their routines, starting with their spending habits. In a world of trends to try, a no buy year is the newest financial trend sweeping social media. Instead of showing you a new budgeting system to implement, this trend does the opposite: it stops you from buying unnecessary things all together.
What is the “No Spend” Trend?
The “No Spend/No Buy” trend is a financial challenge in which you commit to not buying things unless it’s completely necessary. It’s popular now because 2025 is quickly approaching, and people are looking to hold themselves accountable for their financial situation in the new year. With things like overconsumption, fast-fashion purchases, Amazon and TikTok shop, it seems like people don’t know when to stop shopping.
“We don’t know how to stop purchasing things. We don’t know how to say “no.” We don’t have self control,” content creator @lifestylewithharm shared in a TikTok video.
How Does The No Buy Challenge Work?
The “no buy” challenge is essentially refraining from purchasing random items. This can include not buying new clothes until your old ones wear out. Or, not purchasing any new beauty products until you run empty on your tried and true cosmetics. Comments under the previously mentioned TikTok video read, “I’m so excited to not spend in 2025!!!!” and “Facts I’ve made up my mind I’m only buying necessities next year.” By focusing on your essentials, you can save more money in the future and use those funds to achieve real goals. Many people on social media are planning to allocate the extra money towards traveling, paying off mortgages and investing in business ventures. Some people are committing to buying essentials for the whole 2025, while others are breaking the no spend trend down month by month.
What Are The Rules For “No Spend” 2025?
A “no spend” challenge sounds good in theory. But it won’t yield successful results unless you set some rules in place. Although there are varying perspectives on how to do the “no spend” 2025 challenge, here are some general rules to consider when trying it yourself:
Decide Your Why
If you don’t have a solid reason to do the “no spend” challenge, then you’ll instantly revert back to your old ways. Instead decide why you want to spend less in 2025. Are you working towards paying off debt? Or are you simply trying to attain a more minimalist lifestyle? TikTok user Jaylon Brooke posted a video suggesting you own stock in a brand before purchasing its products. Knowing your why will keep you motivated throughout the challenge.
Determine Your Essentials/Unnecessary Items
Before creating a tight grip on your wallet, analyze your spending habits. This means creating a list of essential items that need to be purchased and unnecessary items you should refrain from. For some, beauty products and services are important to invest in. On the other hand, buying new clothes each time you have an event isn’t.
Shop Your House First
The easiest way to spend unnecessary money is to buy something quickly. In addition, services like Afterpay and Klarna don’t make it easier to shop consciously. Before adding a new hair conditioner or Amazon device to your cart, check your home. Chances are you have hair products collecting dust that can be used. Or you have a gadget already in your pantry that can achieve the outcome you’re looking for.
Make Room For Rewards
Setting up a rewards system will help you stay dedicated to your “no spend/no buy” challenge. This can look like intentionally buying something when you save a certain amount of money. In other ways, this can look like engaging in healthy splurges for special occasions, like vacations and birthdays.