Hello hello, Hive fam it's @tengolotodo the male half of @mmonline here.
And a big hello to anyone else seeking a bit of financial freedom!
Ever feel like your hard-earned cash just... evaporates? You work hard and you might even earn well, but by the end of the month your bank account has vanished to zero!
If that sounds familiar, then listen up, because today we're talking about something that you might have seen being talked about on Social Media this month in July ... the No-Buy Month!
What Exactly Is a No-Buy or Low-Buy Month?
Quite simply a "No-Buy Month" is a challenge where you commit to only spending money on essentials for a month usually a calendar month.
It's you hitting a deliberate pause button on all those discretionary purchases. You know the sort of thing – the impulse buys, the "just because" treats, the things you want but don't truly need.
Think of it as a financial detox, a chance to regain control of your finances and see where your money really goes.
It's NOT about deprivation or hardship. You still cover your rent/mortgage, utilities, groceries (though with careful planning!), transportation, and any essential healthcare costs. The beauty of a No-Buy Month is that you set your own rules.
Why Would anyone participate in This Money-Saving Craze?
The benefits of a No-Buy Month go way beyond just saving a few quid. Here's why we at MMO think a No Buy Month is a game-changer...
☑️ Reveals Your Spending Triggers
You'll quickly discover what your "weaknesses" are. Is it the daily bought coffee to go? Online retail therapy after a tough day? Subscription services you barely use? Identifying these triggers is the first step to sustainable change.
☑️ Boosts Your Savings
This is the most obvious one! By cutting out non-essentials, you'll be amazed at how much extra cash you have at the end of the month. This money can then go towards debt repayment, an emergency fund, or a specific savings goal (in my case a fluffing yarn festival weekend for Mrs T).
☑️ Encourages Resourcefulness
Instead of buying new, you'll start using what you already have. That half-used bottle of lotion, the forgotten ingredients in the back of the cupboard, the books on your shelf you haven't read yet. It fosters creativity and reduces waste. If like us then you will actually have a clear of what you don't use anymore!
☑️ Shifts Your Mindset
A No-Buy Month is a powerful exercise in distinguishing between your "wants" and your "needs." It teaches you to be more intentional with every pound,dollar, euro or even Naira, fostering a healthier relationship with money and consumerism. You really will gain a renewed appreciation for what you already own.
☑️ Reduces Decision Fatigue
You know that old adage about doing nothing being very tiring? Well believe it or not, constantly deciding whether to buy something can also be mentally exhausting! By removing the option for discretionary spending, you free up mental energy for other things.
Examples of What to "No-Buy"
Here are some common things that people include in their No-Buy Month:
❌ Eating Out/Takeaways
No more coffees on the go, lunch deals, or Friday night chippies. Get creative in the kitchen, take sandwiches to work, use up all your left overs and tins from the pantry!
❌ New Clothes/Accessories
Shop your wardrobe! I bet you have stuff you haven't worn for ages! Rediscover forgotten gems and get innovative with styling.
❌ Entertainment (Paid)
No new books, no new streaming subscriptions, no cinema tickets and no paid apps. Embrace free activities like walks, library books, board games, or free local events.
You know at my hydrotherapy session on Thursday my female physiotherapist came bounding over to me in the pool. Edward Edward guess what she said in her Irish accent... I have no idea. She is in her late 20s. I saw an owl and two of its babies! No way said I. Yes she said, it was an amazing experience. One of the lads got his expensive camera and we all went to look and watch. And we didn't spend the night in the pub like usual. Now I see why you like nature so much. So there you go, not only did she have fun and am amazing experience but she saved money!
❌ Impulse Buys
Just say no to those little "treats" from the supermarket checkout you know the biscuits the chocolates, say no to random online purchases, and defo say no to items you grab just because they're on sale.
❌ Beauty/Personal Care (Non-Essentials)
Use up what you have before buying new makeup, nail polish, or excessive skincare products. Of course there are products you have to buy but be realistic! Having to buy another shade of nail polish is not needed!
❌ Home Decor/Gadgets
Resist the urge to spruce up your living space with anything new. Work with what you've got. Learn to reuse and recycle, it works wonders!
Making Your No-Buy Month a Success
☑️ First of all you need to carefully plan the month.
For example I cannot do June July or August. It is our wedding anniversary, then Mrs T's birth month then mine. It is when we do things in the sun and outdoors.
☑️ Set Clear Rules
Define what's essential and what's out. Write it down!
☑️ Tell Someone
Accountability is key. Share your challenge with a friend or family member, or even better with your community. Do you know that on Hive, the Saturday Savers community participate in No Buy months and we share a post from their founder in the references section of this post.
☑️ Plan Ahead
Meal plan diligently to avoid impulse grocery trips or resorting to the all too easy to do takeaways. Just Eat is not your friend in No Buy month!
☑️ Find Free Fun
Discover local parks, libraries, free museums, or simply enjoy activities at home. There are loads of things to do, and no I don't mean increase your screen time on your phone!
☑️ Track Your Progress
Keep a simple tally of how much you're saving. Seeing those numbers grow is incredibly motivating! The proof is in the pudding as they say.
A No-Buy Month isn't just about saving money; it's about gaining clarity, building better habits, and appreciating the abundance you already possess.
Why not pick a month and give it a try? We are doing it in September!
You might be surprised at what you learn and how much you save!
Have you ever tried a No-Buy Month, or a similar challenge? Share your experiences in the comments!
References for Further Reading:
@shanibeer on Hive Can I do a heart healthy no-buy month?
Gretchen Rubin on "No-Spend Month":
https://gretchenrubin.com/articles/what-i-learned-from-my-no-spend-month/
CNET on No-Buy Challenges:
https://www.cnet.com/personal-finance/banking/can-no-buy-july-help-you-save-money-it-can-do-so-much-more/
So, tell us what steps to Building Real Online Income you are taking?
Images all generated on Gemini.
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