How to Do a No-Buy Year

Budgeting and saving money are ever-popular New Year’s resolution. In fact, 46% of those surveyed by Statista cited “saving more money” as a 2026 resolution. If you’re one of the millions of Americans thinking about how to better manage and save your money in the new year, one extremely effective method is the “no-buy" (or “no-spend”) year.

I've seen the benefits first-hand. So to help you reap those same benefits this year, I've put together a guide on how to complete a no-buy year — or half-year, or even a no-buy month — and actually enjoy it.

1. Make your no-buy goals  

Before you start, make a clear goal that will help keep you going. It can relate to debt repayment, a savings goal, or both.

Set a time period, too. Maybe a full year of no non-essential spending sounds too daunting. You could try a single month, three months — whatever gets you started.

A set goal and time period gives your plan structure and a finish line. Without either of those, it’s easy to lose motivation and abandon the venture. Track your progress regularly to stay on track. Trust me, the results alone will be enough to keep you motivated.  

2. Write down your essential expenses 

You'll want to differentiate between what expenses have to be made, and which ones can be avoided during the no-buy break. Lay out your monthly expenses from the previous three to six months and figure out your average spending on essentials like utilities, food, toiletries (toilet paper, toothpaste, soap, etc.), and transportation. You will also need to include fixed costs like rent or mortgage, insurance, debt payments (credit cards, loans), and any other bills you have.  

3. Make a list of non-essential expenses  

On the flip side, in order to encourage accountability during your no buy period, it’s equally – if not more – important to list optional expenses. These can include restaurant meals, takeout and coffee; clothes, shoes, and accessories; entertainment like streaming subscriptions, video games, and events; travel (with some exceptions), and anything else you deem skippable for a no-buy period.  

Note that I didn’t include categories like skincare or haircare because the point of a no-buy year isn’t to abstain from buying anything, just things that are unnecessary. It’s entirely reasonable to buy a new moisturizer when you run out of your current one. But if you already have three different kinds of moisturizer, use them all up before buying a replacement.  

4. Make a monthly budget  

A year is a long time, so it’s easier when you can break it down into smaller, monthly chunks.  

Now that you know which monthly expenses are essential, and what they amount to, you can easily plan out how much you’re going to spend – and how much you’re going to save.  If you don't know where to start, follow our easy guide on how to budget and save money.

5. Make a savings plan  

Your budget will show you how much is coming in and how much is going out, plus what is left over. To avoid using that leftover money on unnecessary buys, make a plan for it.  

If you have debt, set up an automatic withdrawal/payment to the lender that is holding that debt. You’ll be surprised to see just how quickly that debt starts melting away! Again, remember to leave some money in your account for the “unexpected” expenses, perhaps holding that money in a separate high-yield savings account so interest helps it grow.  

At the same time, make a savings plan. It can be tempting to focus only on debt, but having some savings in place is important to avoid leaning on credit cards when things go wrong and running debt back up. Even if it's a small amount per pay check, divert some money into a high-yield savings account, a 401(k), a Roth IRA, an investment account — anything that helps your money grow!  

6. Make your no-buy rules  

A no-buy year sounds great when it’s on paper, but in practice, it requires a lot of discipline, which requires rules. No-buy year rules differ person to person – some people go cold turkey, meaning no spending on anything outside of the essentials, period. Some set guardrails that allow them to spend in a very controlled manner, for example, only going out to eat once a month for buying only one or two new items of clothing every season.

Write down rules that allow you to meet your debt repayment and savings goals by the end of the year — but still feel manageable and fit your lifestyle. You may choose to include one vacation a year, for example, but only if you’re able to save up for it and pay for it with a sinking fund (dedicated savings for that purpose).

7. Gather ideas for no-spend activities 

The hardest part of a no-buy year is working around social gatherings. Plan for it, and make the transition easier by coming up with ideas for social activities that don’t have to cost anything: game nights with friends, walking or running groups, book exchange clubs, indoor movie nights, potluck dinners, the possibilities are greater than you think! You’ll find that it’s the time spent together that you look forward to, not the location or activities.  

8. Give yourself some grace  

Lastly, and most importantly, remember to be kind to yourself. It’s nearly impossible to have a perfect no-buy year, and you might slip up during that time. And that’s completely OK – as long as you remember the goal you set for yourself at the beginning of the year, and continue working toward it.  

Getting close to the goal, even if it’s not 100% completed is still a major accomplishment, and you will still be at a much better spot financially at the end of the year than when you started it.  

A beginner’s guide to a no-buy year 

What is a no-buy year?  

A no-buy year is a year in which you don’t buy anything that's unnecessary. So it’s not a strict $0 spend strategy – that would be impossible, as you still need to eat! But other than the established essentials: living costs, food, transportation, bills, etc. you do not spend any money on anything else.  

What are the rules of a no-buy year? 

The only rules are your rules! Some people might choose to be strict and limit spending to only essentials, and only when absolutely necessary, while others might give themselves more leeway, like setting up a rule that they can buy one or two new pieces of clothing every season, or they can book a vacation if they set up a sinking fund to prepay it.

It doesn't even have to be a year — you could try a no-spend month at first to get used to the idea.

You can find plenty of first-hand experience and ideas on social media like YouTube and Instagram to figure out what would work best for you.

What are the advantages of a no-buy year? 

The most important and obvious advantage is: saving money. By cutting out unnecessary expenses, you can save a lot of money. I’ve seen people claim they saved 60% of their take-home income, others say they managed to pay off $30K worth of debt. That’s a hefty debt repayment or a fat deposit into a savings account.  

Other advantages also include:  

• Mental health: Reduced or no debt and readily available funds for rainy days can do wonders for your overall stress and anxiety. 

• Reduced waste: By using up the products you already have rather than buying new ones constantly, you’re forcing yourself to create less waste and learn how to make something last.  

• Newfound appreciation for existing items: This more directly applies to items like clothes, shoes, or even home decor, but it truly does force you to get creative and find ways for existing pieces to give you joy again. 

What are the disadvantages of a no-buy year? 

I’m not going to lie to you, a no-buy year is hard. The reward is absolutely worth the days of struggle you may face, but it’s worthwhile to be prepared for the cons of embarking on this no-buy challenge: 

• FOMO: You will likely face situations where you’re forced to miss out on dinners, getaways, or concerts and shows, which can lead to feeling left out.  

• Quality of life: While saving and paying off debt will greatly improve your quality of life in the long run, while you’re in a no-buy year, you may feel like your quality of life is reduced without vacations, regular nights out, or what I like to call “little treats.”  

The disadvantages are mainly social and can be easily amended by finding creative ways to spend time with family and friends in a manner that doesn’t involve spending extra money. You could also create a no-buy group with friends to avoid FOMO, because you're all in it together.

How to stick to a no-buy year  

There are a lot of great tips from real people who have done a no buy year (or months) you can find online, so we’ll start by advising you to flood your social feed with people who are doing the same thing. 

There are plenty of budgeting creators online, and others who aren’t experts in anything financial but decided to take back control of their finances by committing to a no-buy year. If you haven’t been exposed to it, underconsumption is a growing online trend, and for good reason – people have had enough of buying and not saving. When you’re only watching content online that reinforces your own new shopping and saving habits, you save yourself a lot of the FOMO and reap plenty of motivateion. It’s like taking a gym class rather than doing it solo – you do a lot more and feel a lot stronger.