Purse strings aren’t just tightening this year—they’re being squeezed with a Gordian knot.
With consumer prices still rising and credit-card debt at an all-time high, some Americans are pledging a “No-Buy-2025,” a takeoff on the pre-holiday trend of No Spend November. Only this is 12 times as frugal.
No-Buy-’25 focuses on cutting out non-essential purchases—meals out, subscriptions, extra clothes, new tech devices, etc.
Like New Year’s vows to get back in shape at the gym, No-Buy-’25 promises might prove hard to keep as the year goes on. Proponents of the movement encourage participants to start out by making a list of purchases they can live without (shoes, cosmetics, movies, travel), and another list of items that are permitted (groceries, health care, rent/mortgage).
Post-pandemic inflation and the general rise in cost of living also comes at a time when shopping has become easier than ever—with instant digital purchases and returns rendering every person’s laptop or mobile device a virtual warehouse of goods at their fingertips.
6 tips for a successful No-Buy-‘25
- Make a list of what’s on the ‘no-buy’ list and what isn’t.
- Set up a rewards system—for instance, when you’ve saved $500, allow yourself to spend an extra $50.
- Establish a goal—whether it’s saving a certain amount for a trip the following year, or building your bank account to a specific level, have an endgame to work toward.
- Find a No-Buy-Buddy: Misery loves company, especially when pledging not spend. Use a buddy system to talk each other out of purchases and to socialize with on the cheap.
- Make your spending values based: If health and fitness are important, for instance, allow yourself to spend on a comfortable bike helmet or running shoes, if those purchases will help you regularly exercise. Whereas, a sugary mocha latte might have no inherent value, and therefor can move to the top of the no-spend list.
- Don’t be discouraged if you fall off the wagon once or twice. Just be sure not to purchase the whole wagon itself.
