'No Buy' July: Why Internet Is Talking About This Money-Saving Trend

"No Buy" July is a popular social media trend that challenges people to do a "financial fasting" and avoid buying non-essential items for the month. The focus is to develop mindful spending habits and save money. People often wonder about ways to invest and save money, but just a few know that spending less is also a viable option. The trend is similar to "Frugal February" when people ditch dining out and spend as little as possible on non-essentials while saving more.

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This global trend, also called "low-buy" July, challenges people to limit buys to necessary items like groceries, utilities and healthcare and avoid impulse purchases and shopping for emotional reasons. The followers of the 'No Buy' July trend can also try to find free or low-cost alternatives to non-essential buys, such as borrowing books or swapping clothes with friends.

The trend allows people to allocate funds towards more important goals, which eventually helps in reducing waste and promotes sustainable living by prioritising needs over wants. The trend also helps in developing awareness of how marketing manipulates spending habits.

The trend is not limited to one month, as some people also extend the challenge beyond July. Some even adopt a "low-buy" approach for a lifetime. 

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Seven easy steps to participate in "No Buy" July

1) Set Goals: You can set clear goals that you want to achieve, for example saving money, reducing unwanted expenses, improving shopping habits, etc.

2) What Needs To Improve: You also need to understand where improvement is needed. So track your expenses to determine what constitutes non-essential spending for you. It can be food ordering, dining out, or unwanted subscriptions.

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3) Set Monthly Budget: You can set aside a budget for essential expenses, like groceries, utilities, and house rent or mortgage.

4) Self-Control: The main important point is to have control over the cravings. People need to unsubscribe from promotional emails, delete shopping apps, and limit exposure to advertisements.

5) Look For Alternatives: Instead of purchasing expensive items, one can look for free or low-cost alternatives. For example, instead of ordering food, prefer cooking at home.

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6) Keep A Journal: It is very important to track the progress. Hence, one can use a journal or spreadsheet to monitor spending and reflect on progress.

7) Reward Yourself: Those who are following the trend can also set milestones and reward themselves with treats after completing the challenge with non-material rewards, like a home-cooked meal or a fun activity.