No Buy Year - How To Get Back To The Basics - Arrest Your Debt (2024)

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As the world grows ever-more complicated around us, the concept of a no-buy year aims to reset our consumer minds. It’s one of many forms of extremism that is growing in popularity. It turns out, we need far less stuff than we might think.

What’s A No Buy Year?

Hint: the name is a bit of a giveaway.

A No Buy Year is a self-enforced set of rules where someone limits or eliminates their purchases for an entire year.

At its most rigorous, a no-buy year prevents all purchases. E-v-e-r-y-t-h-i-n-g. That means the food you eat comes from your garden. You revert to more natural forms of cleanliness. Just think about your monthly budget for a minute. All of those things – you can’t spend money on them anymore. It’s pretty extreme.

But there are many variants of no buy years, and most of them are less severe than the “all in” method. For example, no buy years are wonderful antidotes to “shopping addictions.” If you feel like you spend way too much on Amazon, perhaps a no-buy year targeting against online shopping is right for you.

Other folks focus on single products for their no buy years. Perhaps they don’t want to buy any clothes for a year. Other people aim to become carbon negative for an entire year. All of their purchases reduce carbon emissions rather than contribute to carbon emissions. If you have a specific weakness when it comes to spending money, that weakness would be an ideal target for a no-buy year.

Should I Consider A No Buy Year?

The principle underlying a no-buy year is that self-limitation can be empowering. This is one of the foundational principles of stoicism.

If you expose yourself to “difficult” conditions, you begin to realize that “normal” life isn’t nearly as challenging as you thought it was. This is a fundamental offshoot of psychological conditioning. Our environment conditions us, and we get used to it. If we choose to “get used to” something difficult, then we’ll gain a new appreciation for the previous “normal.”

I also think the no-buy year is a perfect reminder of the Fulfillment Curve. In short, the Fulfillment Curve states that there is a limit to “more spending = more happiness.” Eventually, more spending will actually lead to more stress and anxiety. A no buy year can highlight which areas of your budget led to more stress than they were worth.

If you’re worried that a no-buy year might be too extreme for you, then start small. What about a no buy week, or a no-buy month? What if you reduce your spending by 50% for the next month? There are many ways to impose self-limitations or to live on less. As an added side effect, saving that spending money might significantly boost your net worth.

We can apply no-buy years tactics to other areas of life. The two that first come to mind are Marie Kondo’s decluttering and the “OMAD” movement.

Decluttering And No Buy

No Buy Year - How To Get Back To The Basics - Arrest Your Debt (1)

Marie Kondo is an author and consultant who took the American zeitgeist by storm in 2019 with her Netflix show Tidying Up with Marie Kondo about organizing people’s houses.

It turns out that decluttering your bedroom closet acts as a metaphor for decluttering your life. Kondo’s method–KonMari–encourages people only to keep items that “spark joy” in their life. Those joyful items act to buoy one’s psyche, while all other things only serve to drag the mind down.

The KonMari method is best applied one category at a time. For example, Kondo suggests that someone first organizes all of the utensils in their kitchen, only keeping those that spark joy. This fork is joyful, but this spoon is not. Then they tackle all of the clothes in the house, then all of the decorations in the house, etc.

Similarly, a no-buy year can apply to the entirety of one’s purchasing or only to a small subsection. The underlying principle is the same as KonMari. The no buy year attempts to prevent items from entering your life in the first place. The KonMari method attempts to clean up those items after they’ve entered your house.

They both share the goal of having less stuff.

Does No Buy + OMAD = a NOMAD?

Much like the no-buy year and KonMari, OMAD is a growing trend that employs a “less is more” mentality. OMAD stands for one meal a day. Can you guess what it’s about?

If you answered, “Limiting yourself to only eating one meal a day,” then you are clearly a genius. The common thread between these three ideas is obvious.

Shake up your usual routine. Insert more considerable challenges into your life. Convince your mind or body to get used to less. Get used to this “new normal” and see how your mind/body responds. See life from this new perspective. While you assumed your previous behavior was optimal, you might surprise yourself.

Please note: OMAD deals with physical health in a way that KonMari and no buy year do not. This article is informational only and assumes you would consult with a medical professional before beginning an OMAD practice. Be smart with your health.

Some people view OMAD as a challenge to be overcome. Others see it as a dieting method since OMAD essentially closes down your kitchen except for one period per day.

Much like the no buy year, OMAD might be too extreme for some. There are other variations, like the also-popular intermittent fasting. In this diet method, the dieter limits their caloric intake to an 8-hour window per day.

So that 7 am breakfast and 7 pm dinner won’t work anymore – they occur 12 hours apart. Instead, many intermittent fasters choose to combine a big brunch (e.g., 10 am) with a big dinner (~6 pm). Intermittent fasters typically eliminate one meal per day, eliminate late-night snacking, and usually challenge their stomachs to overcome some mid-morning hunger pangs.

Other Examples Of “Extremism”

All of these ideas are part of a growing trend of “extremism.” KonMari pushes the personal organization to an extreme. OMAD pushes caloric intake to an extreme. No buy years push consumerism to that same extreme. And there are other new “extreme” practices popping up every day.

For example, some people are starting to go on “dopamine fasts.” Dopamine is the neural transmitter most often associated with reward-motivated behavior. In short, good feelings and positive emotions are often a product of dopamine secretion in your brain.

A dopamine fast occurs when someone intentionally chooses behaviors that limit their dopamine secretion in an attempt to “re-baseline” their brain’s reaction to dopamine.

In theory, the brain will get used to a lack of dopamine. As the brain becomes conditioned to less dopamine, it will start to be stimulated by even small dopamine hits. It’s very similar to someone abstaining from sugar in their diet. After a few weeks of no sugar, that person will start to notice just how sweet fresh fruit is. And artificial sugar, like in candy, will taste sickly sweet.

The idea of a dopamine fast is to eventually reset your brain into realizing that even the small things in this world can bring about joyous feelings.

Limits Create Growth

The common bond in today’s article is that limits can create growth.

We are creatures of habit, and those habits often define us. If we shake up our habits, we can break our old definitions and grow in new directions.

Whether with food or material goods or with spending money, a system of self-limitation might teach you something you didn’t know about yourself.

No Buy Year - How To Get Back To The Basics - Arrest Your Debt (2024)

FAQs

What are the rules for a no buy month? ›

There are no set rules to a no-buy month. It can be as strict or as lenient as the challenger feels comfortable with. The point isn't to deprive ourselves of necessities, but rather to experience how easy it can be to use fewer resources, create less waste, and save some cash in the process.

How to stick to a no spend year? ›

Keep account

A good way to stay motivate is to track your progress so you can see how far you have got towards your goal. There are various ways to do this. Try printing off a no-spend calendar and ticking off every day you make it through, or using stickers to mark the days as you go.

What are the benefits of a no buy year? ›

As a result of a no-buy year, you'll lighten emotional burdens and you will have more time and energy to focus on other things. If you're looking to tackle a no-buy year to help you in a journey to minimalism, you'll be able to spend more time decluttering (instead of shopping).

How to do a no spend challenge? ›

This viral trend involves going as long as possible without spending money on non-essential. (Rent, groceries and other necessities are okay.) Participants track their progress on a calendar, trying to rack up as many consecutive no-spend days as possible.

What are the benefits of no spend days? ›

Why choose a no-spend challenge?
  • You'll save money.
  • Improve your financial awareness.
  • Reduce clutter.
  • Reduce stress.
  • Find more free time.
  • Prioritize quality time.

What is a no buy challenge? ›

The 'No Buy Challenge' is a strategic approach to saving money by abstaining from unnecessary expenses. It's not about depriving yourself but rather reevaluating your spending habits and focusing on essential needs.

What are my no buy rules? ›

This challenge looks different for everyone, but there are some general rules you can follow.
  • Consider What Essential Means For You. A No Buy Challenge or Year looks at cutting out non-essential spending. ...
  • Decide If You Can Buy Second-Hand. ...
  • Create A No Buy List. ...
  • Track Your Expenses. ...
  • Special Occasions.
Feb 11, 2024

What is the no buy movement? ›

The movement is not about literally not buying anything, rather not buying anything except the essentials: food, rent, necessary bills. Whilst no-buy is anti-consumerist, it's also about learning to spend with more intention, in alignment with your values, rather than compulsively.

How to survive a no buy? ›

MY TOP TIPS
  1. HAVE A FINANCIAL GOAL. For me, I think this is without question the thing that kept me going. ...
  2. SEE IT AS AN OPPORTUNITY. If you've been a regular shopper in the past, it's likely you already have plenty of things. ...
  3. CHANGE YOUR INTERNAL DIALOGUE. ...
  4. REMOVE TEMPTATION. ...
  5. SLEEP ON IT. ...
  6. HAVE AN UNRELATED GOAL.

What to put on a no-buy list? ›

Think of potential purchases along these four categories:
  • Stuff you have but never use (definitely don't need more)
  • Stuff you already own, love, and use (already have it!)
  • Stuff you use that's seen better days (hmm, this could use an upgrade) ✅
  • Stuff you don't have but really need (ding, ding, ding) ✅
Nov 7, 2023

What are the rules for no buy July? ›

The rules for no buy July

Just like any other challenge, there are no hard and fast rules. The rules can be catered to your own personal situation. The premise is to avoid any unnecessary spending. This can be clothing, toiletries, dining out, activities, etc.

What is the rule of 5 no buy? ›

The rule of 5 rules

Tiffanie suggests the following: You can buy no more than 5 items this year (clue's in the title, duh) Socks, undies, tights, etc don't count (but obviously don't go crazy) Shoes and accessories DO count.

What is the one month rule in buying? ›

A simple yet effective strategy, the 30-day savings rule is something anyone can implement in their financial routine to help curb impulsive spending. The rule, which encourages people to pause and reflect on nonessential purchases for a month before making them, can lead to substantial savings growth.

What is the difference between low buy and no buy? ›

A no buy period is more restrictive than a low buy period. With a no buy period, you're only allowed to spend money on essential expenses like food, rent, transportation and healthcare. With a low buy period, you can also spend money on discretionary expenses, but you set restrictions on certain areas of spending.

How to not spend money in January? ›

Here are some of the rules you'll need to follow if you want to do no-spend January correctly.
  1. Rule 1: No coffee shops. ...
  2. Rule 2: No online shopping. ...
  3. Rule 3: No entertainment. ...
  4. Rule 4: No eating out. ...
  5. Rule 5: No buying clothes.
Dec 19, 2023

What is no buy in January? ›

Now, I have no idea if "No-Spend January" is actually a thing (it doesn't quite roll off the tongue), but it's based off the "No-Buy Year" Angela Szot (@vomitgrocery on TikTok) did last year, which went viral! Essentially, I decided I would go an entire month without spending money on anything but essentials.

What are the no spend February rules? ›

LIMITED DINING OUT. During No Spend February, the goal is to only dine out twice, and both times on the weekend. That's typically when we'll take the kids out to eat for breakfast or lunch anyway. There will be no fast food trips unless the kids are spending their own money or gift cards.

What is the January money Saving Challenge? ›

No-spend January is a great way to give your savings a boost while developing solid financial habits. Just make sure you open a high-yield savings account before you take part in the challenge. That way, you won't just save money; you'll put the money you save to work.

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