Viral 'no spend' challenge encourages saving amid high living costs
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- Опубліковано 28 вер 2024
- A new social media trend called the "no spend" challenge has gone viral as consumers combat the high cost of living. The challenge permits only essential purchases, directing all extra savings toward vacations, retirement or debt repayment.
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#Trends #SocialMedia #NoSpend
I love how the media spins everything as a cool trend instead of a devastating reality.
Lol exactly. You got it!
Absolutely!!
It’s not that serious Ashley
I didn't think of it that way but yes lol, sad and true
Facts. This is a way of life for many not a trend or hobby
feel like I’ve been doing this challenge my whole life
Same here 😊
Yeah I’m REALLY good at this. If the simulation is keeping track, I think I already won! 🥇
Just like social distancing...I've been training for this my whole life 😂😂
haha yeah exactly - its literally how i have lived for years
me too
THIS IS NOT A CHALLENGE, THIS IS REALITY. AN EVERY SECOND OF THE DAY CHALLENGE.
Right! These people are just finally opening their eyes to what majority of us have been doing our whole lives.
Some by choice, most by necessity.
YES it is
Its life now
Thus a challenge💁♂️
@@diegovisoso4587 what a pathetic challenge then
It's called saving money. People have been doing it since money was created.
Except it was way easier before.
Especially today’s younger generations
C
Certainly a large part of the population.
Except for Americans. For the majority this appears to be a revelation
This is not a trend. Financially responsible people that don't earn a lot of money have been doing this for as long as civilizations existed
Don't forget us who make a good income and still save a good bit. 29, earn $120k, work from home. 13% income auto goes to 401k and Roth. Eat out 2x times a week. Mostly eat at home, never buy made coffee, use offer up for nice shoes, etc. drive a paid off used 2016 Altima. my net worth keeps growing and I love it.
Lol who tf spends 1000$ a month eating out?!
They should just go work at a restaurant and eat for free 🤣 Save yah-self $12k/yr. I'm over here like this extra soft sliced potato bread I like increase by $2 so I ain't buying it -on principal and dis foo spending a G on take out. B -eeech! Eat a hot pocket! 😂
For a family of 4, that's eating out 5-8 times a month. Even eating out at chick-fil-a for 4 costs over $50
People with disposable income
It isn’t that much if you think about the cost inflation. Eating out cost $20-30 on average each time x2 meals a day is like $50 x 30 days = $1,500 a month.
She said "we", so I'm assuming she meant at least 2 adults. I know couples who both work full time and buy lunch every day, let say $20 a meal, that's $800 a month already.
If it ain’t on social media, it never happened before. 😂 Not 20 years ago, my grandmother would tell me to give the neighbor some plantains and plums, and the neighbor would give her a live chicken in return. That was lunch and dinner for 2 days. But I digress, we’re in America where everyone has to have their own one of everything.
I think its a dependence on instant information that has reduced the need to delay gratification in folks,
There was a time when most people valued what they owned, took care of it made it last and could loaned to neighbors who understood that concept. Too many return a rusted useless priced of junk that used to be a nice working lawnmower. You have to have your own, sad but true.
Finally, a challenge I have been already doing for most of my life.
oh, im good at this, cus i got no money to begin with... 😂 😂
So get a job, a better job, or multiple jobs if you are able bodied
😂you act like its easy@@firstlast8258
@@firstlast8258 Man, you don't even know their situation...
I remember when people bought homes jewelry vacation cottages sports cars. Now we work to sleep and eat. This sucks.
The cost of living is double if not quadruple what people make in wages . America we're disgusting.
If consumers buy less it’s better for the environment
I like to get my groceries delivered, that way I can take my time going through all the items on sale in the comfort of my own home. By the time I'm done, I usually save enough to cover the delivery fee, tip and a little more. Not to mention I save any gas I would of used, and avoided a store usually packed full of people.
Income disparity is worse than it was during the French revolution. Maybe we should look to history for inspiration on what to do
BINGO!
@@A-Wesker-5 Are you saying you think the French revolution was an act of terrorism?
Didn’t know this is a new challenge. I have been doing this for 28 years
40 years here, lol.
Spending doesn't have to be bad for your bank account. 1.) Buy used 2.) Think about the resell value of the item you are buying. If you buy a used item for $200 and sell it for $200 a year later, you won't lose any money buying it. 3.) If you have to buy an item new think about how long it will last you. I recently spent $100 on a men's wallet. I was tired of the $30 and $40 ones falling apart after a few years so I found one that for 2.5 times the cost had a lifetime warranty and was handmade with full grain leather. It is substantially better built and will last much longer than the cheap ones. In the long run, I will save spending a little more upfront.
Good advice! My only additional recommendation would be to keep the receipt in a safe location and be sure whoever guarantees the item will be around longer than a year. One woman has replaced her Sears lifetime battery 18 times in 50 years. That’s value, lol. She has a lifetime warranty on her brakes that have been replaced multiple times free. She has either 530,000 or 580,000 miles on her car and has kept receipts and warranties for 50 years, lol.
Its not just for tha bank account, most of use already have way too much stuff included food in the fridge, we just don't need to shop more than once a month.
@@kenyonbissett3512 wow that's really awesome where did you you hear of this women? I would love to hear more on this!! As I too hope to do the same thing. I am financing my car and this car note ain't no joke I too will drive it till I can't drive it no more!!! 😅
@@vanessa6236 UA-cam video, YT algorithm
Reason why this is trending is because we’re broke in reality, inflation, cost of living too high. You think we just love this TREND?! spending is a luxury , but tight wallet/purse is called managing our or your money.
I love it when people cosplay being poor lol. Meanwhile it’s real life for most in the USA. Shame.
Poor is a state of mind. I eat 3 meals a day, have a roof over my head and clothes on my body. I am rich compared to 80% of the world.
This has been going on in simplicity forums and budget groups for over 25 years. This wasnt "invented" in 2013 thats just when somebody took it to facebook. I rember people doing it on the sadly gone simple living forum. I used to do this when I was young now its everyday living. My only thrill is library book sales
This has to spread like wildfire across the country, across the board.
Can’t help but notice mainly women are advocating on this challenge..
We cut of Pro Sports, Concerts, buying new cars etc. You will be surprised how much money can be saved, just with sports alone. Cloths are the same way, Older cars are just as good if not better etc.
Except for a 3 month trip to Europe in 2022, that's what I have been doing. I feel like I already have everything I need anyway.
It sounds like this TikTok "No Spend" sudden notice is a cold-turkey approach. Many people are used to only using money for their needs - so, it's really not a "wonder-incentive".
Problem with "cold-turkey/no-spend approach is, if you do it at will, without any foresight planning, you can dip into a typical "over-spend" phase - because you see the "no-spend" as reward for not spending. That's just a hormonal / adrenalin rush kicker - which is not productive in the long run. I think if splurging or continual spending is a result of impulsive buying or emotional spending, and if you want to save money - you need to do your homework: Review your spending habits, review your cashflow pattern, review your priorities and set out goals that don't suddenly impact your spending patterns. Try it out for a short period, review if any changes need to happen, and develop your spending.
I think credit card "No Spend" should be more of a specific spotlight area to condone - rather than blanketing "no spend" in general.
When you're poor it's not a challenge. It's life lol
I've been doing the no spend challenge for years. I only buy what I need and if something needs replaced.
Lol as a poor person this social experiment is my life😂😂😂I love how rich people just see this as a trend
Wow ! ! ! That is a fantastic idea... C'mon people we can do it.. Discipline is the key
Tell me you don't know about responsibility without telling me you don't know about responsibility
I made a video about this called “Savings Challenge”!.!.
Buy nothing and share groups are the best thing about facebook right now
I'm broke! And jobs have become more scarce. Of course this is enticing but also demoralizing
My area has jobs. Perhaps consider moving to an area with jobs.
@@kenyonbissett3512you know moving is expensive soooo you want them to just pick everything up and have enough money for the move + security deposit to a new place??
@@MMMM-ui3ct I’m aware. But many broke people frequently have very little to move, pack a suit case or car. But the key to saving for a security deposit is a job. With no job she will lose her home also.
A lot of you are missing the point. Yes, many people do this out of necessity, not out of a trend. I myself have been positively influenced by this “trend” on TikTok. I am 29 years old and have followed influencers since I was 14, before the term “influencer” was used regularly. It caused me to expect perpetually manicured nails, new clothes for each season, seasonal decor, etc. My parents could not afford these things for me growing up except on special occasions, but when I became financially independent, I went crazy and accrued a sizable amount of credit card debt because I wanted to obtain all of the things my parents couldn’t afford to give me. These spending challenges from people in similar circumstances as me have encouraged me to be mindful of my spending and treat myself in meaningful ways rather than spending impulsively. I have tackled half of my debt so far. All this to say that yes this is a trend, and yes it resonates with some people.
Leave it to the internet to finally make budgeting and saving money a “viral trend”. As if it’s not something people have been doing with their money since money was invented.
Don’t think this is a challenge you need, lol.
I think this trend is on a national news channel because corporations are freaking out about it. They need overconsumption to grow for their shareholders. I think it's a good trend for the social media influencers who overspend to have content for their channel. It gives them another thing to talk about. Why do you think the Marie Kondo method was so popular on social media? These influencers are inundated with stuff they buy and from sponsorship deals to get views. I think regular people make well thought out purchases with the occasional splurge at the grocery store. A no-buy really doesn't need to be a thing. It's just common sense.
a thousand bucks eating out sheeeeesh
Guessing that’s 3 meals a day, 7 days a week.
$1000 every month eating in garbage restaurants that is insane. This why this people are broke. lol
Ive been doing this for years
Even started growing my own food this year.
Consumer spending fuels our economy.
Although I support this many of our jobs depend on consumer spending. This challenge is more than living beyond your means. This challenge is about restructuring how you spend.
People making lite of this are also the people complaining that their favorite restaurants or department stores are closing.
We are a service economy. This impacts a lot of our jobs. Judge, demean or criticize at your own peril. Your company could be the next to close because people don’t have enough money to splurge every now and then.
Wait, what? This social experiment started with someone named Rockefeller? 😂😂🤣
Amen! Great idea!
Pfft. I’ve been doing this for 3.5 years.
😂
ONLY 3.5 years? Pity...
Way to go! I know it's not easy. Going to cut down on spending myself
@@krisk3363you should increase biden says you have the money and the economy is the best it has ever been
This is not do much a challenge but out of financial necessity and boycotting corrupt corporations.
Utilize coupons! And discount stores to cut back also reward programs are helpful too
And discounted gift cards.
THAT GOES FOR ANYONE AND EVERYONE WHO IS HOSTILE GUY WHICH MEANS UNFRIENDLY NO MATTER WHO YOU ARE THAT'S WHAT MY TEAM IS WORKING ONNNNN SO PUBLIC IF YOU COULD SPEAK UP AND GIVE THE GUYS A HAND THAT WOULD BE COOL OF YOU AND VERY UNDERSTANDING
Coming from a country (Dominican Republic) where this is called normal life so I don’t understand why is so shocking to Americans and they called “Challenge”😅
Not to be negative but are we seeing segments about no-buy and no-spend trends in US media because we’re being prepared for serious economic recession? Like a recession so serious we have to go back to a barter system
Next thing you know, there is going to be a no eating challenge
It's so difficult to not window shop when working in fulfillment! Nice idea though.
On planet Earth, we are constantly encouraged to buy, consume, discard, and then start all over again. Regardless of upheavals, we remain highly targeted and malleable advertising subjects. All ads are very welcome. In a word, it's the Middle Ages. Too bad for the climate.
It has the "essentials" caveat, so that could be the emergency supply kit _(like governments recommend you have, or build slowly)_ and so it is also pretty-much the _"try not to use up or deplete things too much"_ challenge _(so you don't dip into the emergency supply kit other than stock rotation like use-by-date rotation)._ Thereby, such challenges _(a bit like Lent via pancakes)_ entail one last stock-up before the "spending-fast" gets going for the person doing the challenge _(knowing glue and stitching could mend things)._ Writing things down (paper or computer) like a list or spreadsheet of items and date events tends to be the way of things, to get organised.
My comment has no hate in it and I do no harm. I am not appalled or afraid, boasting or envying or complaining... Just saying. Psalms23: Giving thanks and praise to the Lord and peace and love. Also, I'd say Matthew6.
why are people telling us to budget groceries and eat less. selfish.
I'm sure Caleb Hammer endorsed this.
Cut back on unnecessary expenditures and use that money toward a gym membership. The sheer number of overweight children astounds me every time I go grocery shopping. Feeding them must be quite expensive.
If I did that my total expenses every month would be around $1,650. It would be MUCH higher if my partner wasn't here to split expenses with me. 😬
Great challenge.
If they invested the difference | save in bitcoin
That could be a pivotal moment for them over the next few years. ⚡️
$1k per month on eating out? 😱 I simply can't imagine doing that. I wonder what she spends in other areas like cosmetics.
GEN Z SUCKS
$1k a month to eat out?? what?
I have lived a very simple and minimal life for a very long time. I am now at the age of 40 and have a paid off house and cars. Have cash in the savings account. Only buy when we need and its very little. It's amazing how fast all those little things that we think we need can add up! My mindset with material things is 100% different now than they were at the age of 20! I wasted so much money when I think about it. Yes, I know we only live one life and need to enjoy it. But we all have to have a happy medium. I have no always had this mindset! But I feel so much happier in life having it now!
I received two game systems on buy nothIng simply by asking
You well find the less bs you have the happier you actually are.
Honestly, this isn't too difficult for me to follow because I'm dirt poor anyway, so it won't help me save much.
Funny thing I started doing this this week😂
Welp there goes all the value we've been building for investors.
Meanwhile, I have lived within my means and get to eat out whenever I want. It's called a budget....
Money Hoard Challenge , especially for content creators that flaunt such a thing
Target, pulled another fake black Friday Stunt. 💅 Girl bye..! them, price's haven't change.
I do this not because I cant afford it, but more because I hate giving these corporations my money more and more by the day. None of the advertising or gimmicks works on me.
We should all resent the fact that they casually ask us to trade time with our loved ones for the crap they are trying to sell us.
While I was learning and changing my mindset. I turned it into a game. I’m not a creative writer so it was Who Gets to Keep My Money, Me or the Corporations?
Yeah seriously, like they need more money. For me, I'm kind of forced not to buy non-essentials because of my financial situation. If I did have disposable income though, I think I'd still thrift and I'd frequent more small businesses. I hate the waste that companies like Target and other large retailers create. So much useless junk.
Me too. Fight consumerism
To me it was a mind shift. I started seeing any offer, ad and shops as traps. And it is true. With distancing myself from this consumerism I realized not only I was able To save more Than I ever had, while growing a sort of pride of myself, like I woke up from a zombie like state breaking the cycle of wake up/go to work/ spend all your Money/repeat!
As an investing enthusiast, I've kept aside a good sum of capital to invest for financial independence and early retirement, but my concern right now is the market rally being propaganda. Is this a good time to buy stocks, or do I wait for the crash?
The stock market can appear as a bewildering cauldron of fake news for new investors. I would advise using a CFP, giving him/her 2/3, and then investing the 1/3 on your own, but only if you have time to track stocks and educate yourself.
@@MelindaMatsuda First two years, I lost money until I got my sea legs. My portfolio is well-matched by a certified financial planner for every season of the market, and just recently hit 7 figures after 5 years of subsequent investments. I'm retired and never leaving the market.
@@elegboozioma7267 Congrats! The market to me is like a lucrative chess game, incredibly difficult to outperform, it's all about understanding how the world moves, its history, and psychology... mind disclosing info about your CFP? I'm quite curious.
@@ShellyHuerta She goes by the name ‘Victoria Carmen Santaella’ I suggest you look her up. To be honest, I almost didn't buy the idea of letting someone handle growing my finances, but so glad I did.
@@elegboozioma7267 I feel thrilled about this, curiously inputted Victoria Carmen Santaella on the web, and spotted her consulting page ranked top. I've seen commentaries about advisors but not one looks this phenomenal.
If this becomes a majority habit for all Americans, low prices will be flooding and deflationary pressure will be eventually present.
Goods deflation is sorta already happening.
Inflation is hanging on in services.
@@SigFigNewton when you've had an incredible amount of inflation ushered in, in the past 2 to 4 years, and now that incredible amount is finally stopped escalating and has perhaps slightly started to fall, that is not at all worthy of being labeled deflation in my books.
@@badmanners7652 well, it’s the definition
My grandparents, who lived through the Great Depression, just called this living.
Many of us now going through this second great depression also call it living
@@hippoge7987 what 2nd Great Depression is that?
I call this living too 😅
with the bad economy, credit card debt, student loan, mortgage hike and feds USD 36 Trillion in debt, this is essential
Bro the economy ain't bad the problem is corporations are profiting more then ever. I'm not suggesting things are affordable they aren't, but if the economy were bad McDonalds and similar wouldn't be posting record profits.
@@GeorgeWashingtonLaserMusket sorry to break your enthusiasm, but McDonalds and Starbucks making money from China...
on contrary to numerous outlets shutdown in a merica, McDonalds and Starbucks opens up hundreds stores in China
Let me guess gen z? 😂 you obviously have no idea how national debt effects you.. because national debt is irrelevant to premise of this video or savings in general. Our GDP is 25 trillion, we could pay our debt off after a few years BTW..ALL of which doesn’t affect you in day to day.
0:55 Some people struggle to afford even the essentials; while others brag about being able to save, some just want to survive.
Bidenomics
I grew up as a child/teen in rhe 70's and 80's eating out was a treat we did a couple times a year. Going to the movies was once a year . Entertainment was in your backyard with your neighbors. Clothes you got at Christmas time. Every purchase was planned and thought out. Your money stayed in a savings account untill you knew what big purchase you were going to make. Nowadays there are so many tempting places for money to go and we live in a i want it now gratification society.
So very True!!
Absolute truth!
Love how the reporter used "lacrosse stick" as an example. You know.....a typical wealthy family sport. These media outlets are so outta touch with the common American.
Uh, lacrosse is now in 1000’s of public schools.
This is good to see. $$ is our power. The less we spend the more they lose!!
The working poor “no spend” is easy for them, especially cutting out fancy vacations
seriously. they're even stuck in the work mentality. most can't or don't know how to relax. it's something I personally had to learn and I'm a re-entry student.
Never occurs to a lot of people to ever own more than two pairs of shoes.
But we can keep pretending that when people are poor it’s due to bad spending habits if you want,
I love this trend! Consumption and consumerism is disturbing on social media. So many content creators/influencers have literally 500 bottles of perfume, 50 stanley cups, etc
Why yall hating on this? This is the very thing that puts power back in the hands of the people. Regardless of you can afford it, not giving your money away to gigantic corporations that will use that money to make your life worse is a win for everyone.
The point Is people are having to do this whether they'd like to or not because everything has become so expensive under trump and joe biden.
I love how the video frames the economic situation as a "spending spree" rather than a real cost-of-living crisis.
The real deal is that Americans have been on a spending spree for years. And now that we need to tighten up, everyone is in a panic. I'm guilty of it. I've been on a strict budget the last 5 years and glad of it, otherwise i would be in a bad spot now.
This is actually working to some extent to bring prices down.
Stuff is still up compared to pre-pandemic, but in the past few weeks, I'm seeing a LOT of very good sales at grocery and big box stores. Things that were $20 a couple months ago are now all of a sudden more like $13 and change. 12-packs of soda that were $9.99 with few to no sales for the past year are now popping up regularly with deals like buy 2 get 3 free. I don't drink much sugar soda, but I like the bottles of Mexican coca-cola and for a long time lately you couldn't touch a 24-pack for under $40. Now I'm finding it for $32.
I think retailers are getting really scared that their endless rapid price hikes are going to change consumer habits in deep and permanent ways. If people get truly frugal and buy only the bare minimum of what they need, big retail is toast. It's clear that a lot of what was passed off as "inflation" was really just opportunistic price gouging and profit taking. Retailers don't make their real money on bare bones necessities. They make it on discretionary items, stuff that nobody truly needs. Junk food, fast food, the latest and greatest gadgets, impulse seasonal items etc.
The way to roll back stupid prices is not to pay them.
I only eat 1 meal a day now.....
It’s not a trend ….. it’s actual reality because a lot of us are struggling.
Stop buying garbage you don’t need
"So, I'm a shopper, so this does not sound fun for me."
Well good for you for being rich enough to just buy useless stuff daily... Maybe don't brag about being a shopper on a "NO SPEND" video???
It's like talking to Alcoholic Annonymous and saying; "BOY THAT SOUNDS LAME, I LOVE ME A GOOD PARTY."
YIKES.
My first thought is they need psychological help and hope they get it.
Downsize your life......Know a need verses a want.........Stay clear of debt.......Always save money for emergencies.....keep a balanced view in life........plan and Count the cost......Prepare meals at home/do meal prep...........learn to be patient..............IT WORKS PEOPLE!
Immigrant families: "This is a challenge?" ,,🤔
😵💫 what a world. People have to take part in trending challenges to not waste money.
People are social creatures. It would be great if we all made smart decisions on our own, but many times we need some ol’ fashioned peer pressure to get things rolling
Anything (legal and moral) that helps, lol.
@@zenquantum1246 This.
The key is to spend less not stop completely.
Utilities have tripled in costs no one has money to spend
Retailers need to feel the pinch so they lower their prices.
Houses now cost over x8 average American wages, college had increased by nearly the same amount.
wrong, spending zero = save more
@@JeikuAnimeReview I understand your point. I would also say it’s possible to graduate college debt free in 4 yrs by working full time summers, living at home and going to local community and state colleges unless your degree requires 5 years like a few in my state.
And, if you are willing to relocate you can find affordable, livable and safe homes that may require updating over time. Does it take effort, yes. Planning? Yes. But, it can be done. It has been done by others. People look around their immediate area and are overwhelmed. The internet has unlocked a world of information to investigate and find opportunities as never before.
Just spend on essentials
@irememberla6460 I feel though that everyone should flourish in wealthy countries. Flourishing requires requires some degree of cultural experiences. Eating out is a cultural and social experience and well as a sensational one. But eating out is against bare minimum. Thus something more than bare minimum and spending on essential things is required for human flourishing.
So budgeting and saving, normal and systematic components of regular finances, are becoming viral.
I am very happy that am now a minimalist. No challenge for me. It naturally comes to me. Best thing I’ve ever done❤
We unite on the "No spend challenge" but we can't come together to fight the corporate and political greed that is killing us. We deserve to be poor.
Keep voting the way ur voting
@@lanacastillo49 Thanks for proving me right.
It's called being middle class. All of us have been doing this for a a couple of years
Inflation is corporate price gouging. Just stop buying stuff you don’t need.
How about increasing people’s salary , stabilize rents, lower grocery prices
It's simple.
America: Business > People
I've been living like this for a couple of years now. You only spend if you've got some