Amea Wadsworth works on her computer at her home, Friday, April 19, 2024, in San Diego. Wadsworth, who moved back home after graduating college, wanted to use her first full-time job as a chance to save, and a moment to take a hard look at her spending activity. (AP Photo/Gregory Bull)
The rules of a no-buy challenge are self-imposed and simple: Make a list of the non-essential items you won’t spend money on for a set period of time and stick to it. Easier said than done.
Many people start such challenges at the beginning of the year and commit to keep going until the end of it. But any time can be the right one for those looking to tackle their credit card debt, declutter their homes or to spend less time shopping. Some challenge participants begin with a no-spend month.
“I commend anyone who realizes they’re just buying too much because North America is very consumer-focused and there’s too much waste,” said Carrie Rattle, the CEO of financial coaching company Behavioral Cents.
Thinking of what you would be better off living without? These are some recommendations from experts and people already participating in the challenge.
IDENTIFY YOUR WEAKNESSES
Whether it’s makeup, ordering takeout food or buying unnecessary trinkets in the $1 section at Target, knowing your vulnerabilities will help you make a realistic plan for staying on track.
Before starting her no-buy year, Mia Westrap, a Ph.D. student in Southhampton, England, took a close look at what she spent money on during the previous few months. She decided that unnecessary food and beverages were her weakness.
“I figured out that I was spending four figures on just carbonated drinks and Pepsi Max,” she said.
MAKE YOUR OWN RULES
One of the fun parts of a no-buy challenge is that there are no set rules. Individuals choose what to include and exclude.
San Diego resident Amea Wadsworth, 22, used to love spending hours looking at clothes and quirky knickknacks at…
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