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Getting Started on a No-Buy Month

6 January 2025

The No-Buy Month has probably made its way onto your social media feeds – someone declares that this month, they’re cutting costs to the extreme.  The idea seems unrealistic, but the no-buy month isn’t as harsh as it seems and can provide a well-informed reset to your spending.

No buy doesn’t mean 100% no spending; some expenses are unavoidable. The idea is to cut all non-essential expenses that don’t significantly disrupt your life. Rent, gas, and groceries all make it into the set-to-spend category, while takeout, new clothing, and fun home goods all get relegated to next-month status. Then, when the month is over, you can reevaluate how non-essential spending fits into your lifestyle and what to reintroduce. So, how should you get started and maintain a successful no-buy month?

 

Know Your “Why”

Why are you diving into a no-buy month? Is it to save for a dream vacation, pay off debt, or just break free from impulse buying? Knowing your ‘why’ will keep you motivated when the call of online shopping tries to lure you in.

Do a Spending Reality Check

Sit down with your bank and credit card statements and take a good look at where your money goes. Identify those sneaky subscriptions, the takeout habit, and any other budget items that have been silently sneaking away your funds.

Create Your Essentials List

Be real with yourself. What are the absolute must-haves for the month? Rent, utilities, groceries – these are essentials. That daily little treat or another streaming service? Not so much. Make a list and stick to it. If you choose, your essential spending can include replacements of frequently-used items that might not traditionally make the required list.

Store Your Savings

There’s going to be a gap between what you normally spend and what you plan to spend this month. Transfer that excess to a savings account so it can’t tempt you from an easy-spending account and nets you interest you wouldn’t have gotten without your no-buy month. Your essential spending can help kick-start savings, too – enroll in a round-up program like Round Up for Savings so those required purchases start adding to your savings account a few cents at a time.

Prep Your Pantry

One of the easiest ways to derail a no-buy month is to get caught hungry without a plan. Stock up on pantry staples, plan your meals, and unleash your inner chef.

Find Free Fun

Entertainment doesn’t have to come with a hefty price tag. Check out local events, hit the trails for a hike or have a game night with friends. There are plenty of ways to have a blast on a tight budget.

Stay Flexible

Life happens, and unexpected expenses might pop up. Stay flexible and forgiving with yourself. A no-buy month isn’t about perfection; it’s about progress. If you slip up, acknowledge it, learn from it and get back on track.

 

When Your No Buy Month Ends

The end of the month doesn’t have to mean the end of savings. You’ve just gotten a crash course in spending at your minimum – there can be ways to reintroduce non-essential spending that incorporates the lessons you’ve learned. Reevaluate your budget to see if you can cut down in areas you didn’t miss during your no buy month and find ways to prioritize the areas you realized you can’t live without.

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