How much could you cut spending? Economic concerns have some Americans setting a ‘no-buy’ rule
By Lane Gillespie, Bankrate.com
Spend any time on FinTok (the personal finance corner of TikTok) and you may have heard of a “no-buy” month, which is a budgeting challenge to not spend money on certain discretionary purchases for a month. Whether you eliminate one spending category in particular or cut discretionary spending altogether, the point of a no-buy challenge remains the same: less spending, more saving.
As Americans try to rework their budgets amid today’s economic challenges, such as inflation and stagnant wages, people are taking on variations of no-buy challenges to save more and change their spending habits. These challenges come in a broad spectrum: While some people are just cutting a few expenses to free up room in their budget or are simply trying to spend less, others are taking the more dramatic route by cutting nearly all spending for a year.
Kelci Crawford, a 35-year-old in Toledo, Ohio, is one such person. Crawford has sworn off spending throughout the entirety of 2025, except for bills (such as rent and utilities), groceries, replacements of needed items (such as shampoo) and a limited amount of mutual aid for friends and community members. They won’t be spending any additional money on discretionary purchases.