NEW YORK (AP) – 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. Thinking of what you would be better off living without? These are some recommendations that you can try.
IDENTIFY YOUR WEAKNESSES
Whether it’s make-up, ordering takeout food or buying unnecessary trinkets, knowing your vulnerabilities will help you make a realistic plan for staying on track.
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.
Writing down the rules that fit your needs may help you stay on track. However, it’s also fine to tweak some of the rules as you move along in your experience.
TAKE A PAUSE
Finances are very connected to emotions, and emotions sometimes can make you feel like buying something you don’t need. If you impulse buy, it might be helpful to write down the things you want to purchase and take some time to think further about the utility of the item.
UNSUBSCRIBE AND UNFOLLOW
Between pop-up promotions and influencers swooning over new merchandise, social media can be a trigger for unnecessary shopping.
If you think screen time is compounding your overspending habit, take a break from following accounts that bring on the urge to pull out a credit card.
BE GENTLE WITH YOURSELF
Unexpected expenses or weak moments happen to everyone, and it’s okay if you don’t follow your no-buy year rules exactly as you had planned.
The effort matters. Building a new habit and managing your finances can be difficult.
Try to be gentle with yourself in the process. – Adriana Morga
