Home » Economy and work » Slash Your Debt Fast: How a ‘No-Buy’ List Could Save You $34,000 by 2025!

Slash Your Debt Fast: How a ‘No-Buy’ List Could Save You $34,000 by 2025!

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Do you have a 'no-buy' list for 2025? One creator says it helped her pay off $34,000 in debt

As the new year begins, many of us are setting resolutions, with financial savings often being a top priority. A trending movement on social media is pushing individuals to become more disciplined about their spending habits.

The “no buy” challenge is quickly spreading across social media platforms, captivating a diverse group of individuals, from homemakers to environmental advocates, all sharing their commitments to refrain from buying certain products in 2025. Participants of this challenge focus on not purchasing non-essential items for the entire year, including clothes, home decor, gadgets, and restaurant food deliveries.

This year, Berman is cutting out new clothes, beauty products, perfumes, jewelry, tech gadgets, books, and home decor items. She also plans to limit her takeout orders to just once a month and has resolved to stop skipping her scheduled Pilates sessions.

Berman emphasizes that consistency is crucial for managing finances and reducing debt. When she started tackling her debt in early 2024, the initial repayments of about $1,000 each seemed insignificant. However, as she nears a debt-free status, she finds the process more rewarding and manageable.

Creating a no-buy list doesn’t necessarily mean aiming to save a huge sum of money. Here’s how other influencers are embracing the challenge.

Eliminating Food Delivery Expenses

Rachel Holdsworth, known as “Budget Bestie” on TikTok, has included hair services, manicures, Starbucks, new drinkware, makeup, haircare products, home decor, and food delivery services like Uber Eats and DoorDash in her no-buy list. Holdsworth, 28, mentioned that she and her husband were already considering a tighter budget for 2025, so the no-buy challenge seemed like a perfect fit. She was shocked to realize how much she had spent on these non-essentials in 2024.

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Holdsworth estimates she will save around $5,000 this year by avoiding these expenses. She finds giving up hair and nail services straightforward, but anticipates that cutting out food delivery will be challenging. “It’s so easy to just order in,” she explained. “If we want to eat out, that’s fine, but we’ll need to pick up the food ourselves. The convenience costs us hundreds of dollars a month.”

Embarking on the Third Year

Christine Ashby, also known as Frugal Fit Mom on YouTube, is undertaking the no-buy challenge for the third consecutive year. Reflecting on her earlier days as an “extreme couponer,” the 43-year-old realized that despite acquiring bulk items cheaply, she was accumulating more than needed. Although she saved money, it led to overconsumption.

In her first no-buy year in 2023, Ashby listed 100 items to avoid, including toiletries and certain foods. This year, she has narrowed her list down to 25 items, such as home organization tools, athletic shoes, hair appliances, kitchen gadgets, books, various food items, and more, shared in a YouTube video.

Some items are carried over from her 2024 list, where she had both successes and minor setbacks, such as purchasing streaming services, jewelry, and sodas. Ashby now values experiences and relationships over material goods, expressing a desire to focus on making memories with loved ones.

Insights from Financial Experts

Jeffrey Jones, associate dean at Missouri State University’s College of Business, advises moderation when adopting financial trends. Newcomers to the no-buy challenge should be cautious of cutting too many expenses at once, as it may lead to compensatory spending in other areas.

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Jones noted that someone might replace a daily coffee with a more expensive energy drink if they aren’t careful. Thus, eliminating one expense could inadvertently lead to another.

Kara Pérez, who promotes sustainable financial practices, suggests that newcomers first identify their lifestyle values to better align their financial goals. In a TikTok video, she explained, “I enjoy activities like hiking and kayaking, which guide my financial decisions towards what truly matters to me, steering clear of unnecessary expenses.”

Pérez also encourages individuals to set financial goals based on their personal lifestyle rather than mimicking others seen on social media. “Freeing yourself from external influences on what’s important can significantly aid not just in saving money in 2025, but also in leading a fulfilling life,” she added.

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