What is a no-buy year? And why is it harder to do than you think it is?

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What is a no-buy year? And why is it harder to do than you think it is?
No-Buy YearShopping
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BANDAR SERI BEGAWAN: A security guard was recently sentenced to a maximum penalty of five years’ jail, with five canings following his guilty pleas towards a charge of sexual assault on an Indonesian woman.

The rules of a no-buy challenge are self-imposed and simple: Make a list of the non-essential items you won't spend money on for a set period of time and stick to it. — Photo: Filepic

"I commend anyone who realises they’re just buying too much because North America is very consumer-focused and there’s too much waste,” said Carrie Rattle, the CEO of financial coaching company Behavioral Cents. Before starting her no-buy year, Mia Westrap, a Ph.D. student in Southhampton, England, took a close look at what she spent money on during the previous few months. She decided that unnecessary food and beverages were her weakness.One of the fun parts of a no-buy challenge is that there are no set rules. Individuals choose what to include and exclude.

For her challenge, she chose to not buy new clothing items and prioritized spending on experiences with her loved ones. Wadsworth also started her challenge by doing it month by month. If you impulse buy, it might be helpful to write down the things you want to purchase and take some time to think further about the utility of the item.

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