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The rules of a no-buy challenge are self-imposed and simple: Make a list of non-essential items you won’t spend money on for a certain period of time and stick to it. Easier said than done. Many people start such challenges at the beginning of the year and resolve to continue until the end of the year. But for those who want to tackle their credit card debt, clean their house or spend less time shopping, any time can be right. Some challenge participants start with a no-spend month.
“I applaud anyone who realizes they’re buying more than they need, because North America is so consumer-centric and there’s a lot of waste,” said Carrie Rattle, CEO of financial coaching company Behavioral Cents.
Are you wondering what things you could live better without? Here are some recommendations from experts and people who have already taken part in this challenge.
Identify your weaknesses
Whether it’s makeup, ordering take-out food, or buying unnecessary items in the $1 section at Target, knowing your weaknesses will help you create a realistic plan to stay on track.
Mia Westrap, a PhD student in Southampton, England, took a close look at what she had spent on over the past few months before beginning her no-buy year. She decided that unnecessary food and drinks were her weakness.
“I found out I was spending four-digit amounts on carbonated drinks and Pepsi Max alone,” she said.
Make your own rules
A fun aspect of the no-buy challenge is that there are no set rules. One gets to choose what to include and what not to include.
San Diego resident Amiya Wadsworth, 22, loved spending hours browsing Target and Goodwill looking for clothes and unique knick-knacks. But when she moved back home after graduating from college, she realized just how many things she had collected over the years.
“When I take the time to clean out stuff and go through all of my stuff, I find things I bought and spent a lot of money on but never wore again,” Wadsworth said.
For his challenge, he decided not to buy new clothes and prioritized spending on experiences with his loved ones. Wadsworth also began his challenge by completing it month-by-month.
Writing rules that are specific to your needs can help you stay on track. However, it’s okay to change some of the rules as you gain experience.
Take a break
Financial matters are very emotional, and sometimes emotions can make you want to buy something you don’t need. When Wadsworth sees something she wants on social media or in a Story, she writes it down instead of buying it right away.
At the end of the month she reviews the list and decides if anything is worth buying.
“I look back and see how many things I wrote down and I think, ‘I’m glad I didn’t buy that because I didn’t really need it,’” Wadsworth said.
If you are buying something impulsively, it may be helpful to write down the item you want to buy and take some time to think about the usefulness of the item.
Unsubscribe and unfollow
Between pop-up promotions and influencers gushing over new merchandise, social media can promote unnecessary purchases, according to Courtney Alvey, consumer finance advocate at Credit Karma.
If you think screen time is fueling your overspending habits, Alvey recommends taking a break from following accounts that make you want to pull out your credit card.
Be gentle with yourself
When Westrap began her no-buy year, she felt as if the universe was conspiring against her. One month her car broke down, and the next she had to pay a costly fine for an overdue parking ticket she didn’t even know she had. Unexpected expenses or weak moments happen to everyone, and if you don’t follow your no-buy year rules exactly as you planned, that’s OK. Effort counts.
“If you fail, you probably need a little more help. You’re not a failure. You just failed a method,” Rattle said. “And that’s really important because I don’t want people to feel discouraged.”
Forming new habits and managing your finances can be difficult. Try to be gentle with yourself in the process.
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