#BadassBudgeting Tip of the Day: Participate in No Buy or Low Buy Challenges
What is a No Buy or Low Buy Challenge? A No Buy Challenge is when you challenge yourself not to purchase any non-essential items or items outside of your allocated budget. A Low Buy Challenge is when you spend minimal amounts of money on non-essential purchases or purchases outside of our allocated budgets.
Where did I learn about No Buy and Low Buy Challenges? I first learned about a No Buy or Low Buy Challenge from watching Christina Mychas' YouTube videos. She has a channel on topics such as capsule wardrobes, shopping your closet, and most famously the No Buy or Low Buy Challenges.
I've loved following along as Mychas' (a Pharmacist in Toronto, Ontario Canada) would find alternatives to spending such as "shopping" her closet for new outfit ideas and creating a capsule wardrobe of classic clothing pieces. Mychas' describes a No Buy Challenge as a shopping detox where we are given ownership and responsibility to stick to only our needs and eliminate our wants. This may be extreme for some people so enter the Low Buy Challenge.
A Low Buy Challenge keeps non-essential spending to a minimum, forcing us to be mindful and intentional with our money and where it goes. It makes us think twice about our wants and keeps spending to our truest needs (grocery budget, gas budget, etc).
So I encourage you, try a No Buy or Low Buy Challenge! You'll be surprised at how much money you can save and soon be in position to re-evaluate where all your money goes! Let me know what you think of the No Buy or Low Buy Challenge and if you've ever tried one before! Signed, Filipina Budget Girl.