Everyone could use a little more money in their back pocket. Unfortunately, the only way to achieve such a feat is to either stop spending money, or earn more.
The ‘no buy’ challenge is a quick and easy money-saving challenge that will teach you and your family exactly what you can and can’t live without. It’s good for anyone wanting to live a little more sustainably, or who just wants to save a little money.
Essentially, the ‘no buy’ challenge is exactly what it sounds like. It means you pick a group of things, and decide not to buy them for a week, month(s) or year.
That might be not buying new clothes, not buying new gadgets, not buying new books or even just not going out for dinner. Just pick a group of items that you often find yourself buying, that way not only will you save money, but you’ll break your shopping habit, too.
Another alternative is to simply swap out what it is you spend your money on.
For example:
- Don’t buy new clothes or only shop at second-hand and op-shop stores.
- Don’t buy new toiletries or only buy new toiletries when it is to specifically replace one product you have run out of. That means no unnecessary face masks, new eye-shadow or moisturiser when you already have some at home.
- Don’t spend money on restaurants or don’t eat out at expensive restaurants.
- Don’t buy new books or only loan books from a library.
- Don’t shop for ‘new’ things or Don’t shop online anymore.
- Don’t spend money on hair and beauty treatments or extend the time between them by a week or two.
By making these simple swaps or changes to your life, you can save yourself hundreds of dollars quickly and break bad habits, and save the environment!
You might also like:
How to make your savings work harder
5 money-saving challenges to try this year
How to make your savings work harder
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