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- เผยแพร่เมื่อ 25 มิ.ย. 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
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
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
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💁♂️
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!
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.
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?
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.
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.
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.
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.
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 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.
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 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.
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.
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!
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...
This is good to see. $$ is our power. The less we spend the more they lose!!
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
It’s not a trend ….. it’s actual reality because a lot of us are struggling.
Own less stuff. Do more things.
We spend the least on everything so we’re relatively richer. We do free things. Already did a lot of fun things in past, tried it all once.
Fish with fewer licenses.
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,
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.
How about increasing people’s salary , stabilize rents, lower grocery prices
It's simple.
America: Business > People
I only eat 1 meal a day now.....
😵💫 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.
So budgeting and saving, normal and systematic components of regular finances, are becoming viral.
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.
It’s the way people used to live. You might dine out once or twice a month. You definitely had less clothes. One car families.
Smaller homes. Gardens.
Try to grow a garden even if it is a patio garden.
I haven’t been on vacation in three years and certainly have never gone every year.
Many people don’t understand the role of church in their lives.
At one time, the Catholic Church owned vast amounts of land in Europe. People could farm the land, build a home, and live even without much means.
Even today, people in a church community provide a support system for each other. You also realize the importance of a spiritual life. I know atheists who go to church every Sunday just for these reasons.
I’m a Protestant believer and a spiritual base keeps you grounded in what is really important.
The goal used to be to save ten percent of your income.
You should have five streams of income. They may be small, some of them, but it definitely helps pay the bills.
It’s almost as if the gal and people are advocating degrowth communism???
In addition to what you do, I have also kept a 3-12 month pantry and freezer. 3-4 month in youth and senior, 12 month when I had a family. The 3-4 month allows me to buy groceries at their lowest price in the sale cycle. Over time I know what those prices are. The 12 months were 3-4 months at the lowest price and the remaining 8-9 months were a savings/emergency fund. I also made gift packages for those in need, short or long term. During the C-19 crisis, I was fine. And even now, with inflation my budget was only up a little as I got the lowest price and switched out foods with other food as prices rose on this but not that. Buy eggs in the spring at $1.53 a dozen and freeze for up to a year, still fine for cooking and scrambling. I keep meat to $1lb, carb $1lb and veggies $1.50lb and fruit to $1lb average for all. Add in a little gardening and planning and I can still each steak and shrimp occasionally.
Income disparity is worse than it was during the French revolution. Maybe we should look to history for inspiration on what to do
BINGO!
@@cr77702 Are you saying you think the French revolution was an act of terrorism?
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.
I've been living like this for a couple of years now. You only spend if you've got some
It's called being middle class. All of us have been doing this for a a couple of years
The cost of living is double if not quadruple what people make in wages . America we're disgusting.
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.
Grocery prices are STILL increasing. Meat prices jumped 20-60 cents a lb depending on what cut at the wholesale store this week its crazy
True statement! Especially chicken and ground beef.
Buy sale priced at regular stores. Boneless, skinless chicken breast $1.69lb, thighs $0.99 though I’ve gotten them for $0.69lb. Ground round sale $2.99lb.
And shrinkflation!! Our butcher cut two burgers from their packs just a few days ago, same price. I actually inquired & he was honest.
Stop buying garbage you don’t need
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.
I remember when people bought homes jewelry vacation cottages sports cars. Now we work to sleep and eat. This sucks.
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!
Inflation is corporate price gouging. Just stop buying stuff you don’t need.
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.
We have been living like this already I have $50 for groceries for our 3 person family this week
Depending on your area, sounds like plenty. Even room for a homemade or sale ice cream dessert
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 am very happy that am now a minimalist. No challenge for me. It naturally comes to me. Best thing I’ve ever done❤
Immigrant families: "This is a challenge?" ,,🤔
If consumers buy less it’s better for the environment
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.
I hope ppl buy on this hype bc that’s the only way corporations bow down-without our spending they’re nothing
Didn’t know this is a new challenge. I have been doing this for 28 years
40 years here, lol.
The “Buy nothing” groups 😂
When you're poor it's not a challenge. It's life lol
Ahh, I believe I've waited on a few of yall before in regards to the tip. 😂😂😂
What if rent was reasonable tho
"you will own nothing and be happy"
0:31 how do you even eat a thousand dollars of food in a month, dang i'd be on that 600 pound show
$1000 a month?? My family of 4 doesn’t even spend that much.
I'm glad they're giving themselves goals and challenges... some of us have been at it for years.
I've been doing this most of my adult life.
I’ve been doing this on my own without realizing there’s a community on TikTok about it. It’s sort of like how long can I go without spending money and usually it’s for a few days until something comes up like necessities and I have to spend. But honestly, a penny saved truly is a penny earned. Don’t underestimate what you might save if you cut out certain things from your life from time to time
It's funny how this is called a challenge
Can’t help but notice mainly women are advocating on this challenge..
Hopefully for some of them, this 'challenge' will be a gateway for long-term positive changes.
What about the people with no money. They can't spend anything!!! This is not a trend.
A budget. That's what is needed. I've been on a budget for 5 years. All but one debt is gone. No mortgage. I've cut my food items, as the cost has gone up. Still keeping it below 300 a month, but it's no frills for sure!
Tell me you don't know about responsibility without telling me you don't know about responsibility
Remember everyone: every time you spend your money, you are paying with your time. You need to work to get that money, and you can’t get back the time you spend working. That is the TRUE currency - your time. It is up to you to decide how much your time is worth. No matter what people say or do, life is NOT about working and saving pennies. We made up the concept of pennies and sold one another the idea. Life is about living and enjoying each moment with your loved ones. It is about simple pleasures like how the sun looks on their face, not material gains. Material gains are an addition to the experience, NOT part of the experience we call life. Some people are lost in the sauce and you can’t change their minds about money, but we all have a set amount of time on this earth and no attitude or amount of work ethic can change that. Enjoy your time here while you can.
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
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.
Wait, what? This social experiment started with someone named Rockefeller? 😂😂🤣
Solves nothing. Lol. The merchant still gets dubbed
Minimalism is the new Luxury. Peace of mind and Financial Stability are the real flex. People who do not seek validation are the ones who can save more. They do not care about what others drive, wear or where others go or spend their vacation. Focus and Balance are the key to life. ^_^
There calling being broke a no spend challenge 😂
"extra cash"?....haven't had any for the last six years...
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.
I’ve been doing the challenge for about 5 years now.
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
Really? This is a "challenge"? News flash, it's called BUDGETING and also living within your means.🙄
Nothing new. People in Venezuela, Argentina, Cuba, Lebanon and many other third world countries have been doing this for decades.
That’s called my every day life
I've been doing the no spend challenge for years. I only buy what I need and if something needs replaced.
I might try this... but i honestly just purchased bedside tables and bedsheets lol
This "trend" is about as useful as new year resolutions.
Remember what Bezos said, "Every amazon customer and employee made this happen." If we the people can do that for one person, imagine what we can do for ourselves.
The stock market is meaningless to almost all Americans.
The top 10% of US households own about 93% of the stock market's wealth, with the richest 1% owning 54% of public equity markets.
Lol as a poor person this social experiment is my life😂😂😂I love how rich people just see this as a trend
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.
This is such a dumb idea. You don’t do “challenge”, you change your habit. The guy said exactly right, revenge spending will follow right after the challenge. People still don’t understand why they are always broke, it is their behavior and spending habits. Not until they accept a lower lifestyle standard, they will stay broke for rest of their life for the most parts.
Speak for yourself 🤓 🖕
Oh wow this is nothing new talk to a few older people we've been doing this for years
@terrie001 Lady almost sounds like she’s advocating defrosts communism with “ask and recurve” and “there is enough stuff” already produced to share. Kohei Saito’s book Slow Down anyone?
If you look at it as a method to change your spending patterns, there will not be “revenge” spending. If you implement other strategies to buy needed and eventually “want” items then no.
This was big in 1970 with Earth Day to do the no spend month at a time and bartering.
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.
Amen! Great idea!
Doing this all my life!!!!!!
I made a video about this called “Savings Challenge”!.!.
Wow ! ! ! That is a fantastic idea... C'mon people we can do it.. Discipline is the key
I do it without being a challenge 😂😂😂 need to laugh to not cry!
Buy nothing and share groups are the best thing about facebook right now
Yall be doing yourself a favor by learning to grow a garden, learn to can your vegetables and eat out of your cupboard instead of a restaurant. Go to the store, head for the meat section ( if you eat meat), see what's on sale, plan meals around that.
Save money. Kids...they eat what they have, theyll live.
Not for nothing, i learned to make my own soap, lotion, make up, juices, and haircare products. Next i wanna learn how to sew.
$1000 every month eating in garbage restaurants that is insane. This why this people are broke. lol