[KENNEDY FELTON]
As the new year gets underway, many people are setting goals—some for fitness, and some pushing budgeting to the next level with “No Buy 2025.” The social media movement is all about spending less, or in some cases, nothing at all.
They say a penny saved is a penny earned, and for many, saving is a top priority. According to The Wall Street Journal, rising inflation and economic uncertainty are leading more people to rethink their spending habits. Instead of chasing the latest viral products, they’re focusing on what they already own to cut costs.
One stay-at-home mom featured in The Wall Street Journal has cut out things like hair treatments, manicures, and even new water bottles to pay off thousands in credit card debt.
AND SHE’S NOT ALONE. ON TIKTOK, CREATORS ARE SHARING THEIR OWN ‘NO BUY’ RULES – LIKE ONLY BUYING TOILETRIES WHEN THEY COMPLETELY RUN OUT… OR AVOIDING INSTALLMENT PAYMENT PLANS LIKE KLARNA OR AFTERPAY.
But it’s not just about saving money. Social media creators are building entire communities around frugality—sharing tips and strategies to help others embrace a low buy or no buy lifestyle.
“I DON’T TURN ON THE HEAT. I’LL REALLY BUNDLE UP AND I HAVE TWO COMFORTERS WHICH I WRAP MYSELF IN WHEN I SLEEP AT NIGHT.”
For some, frugality means making serious sacrifices like turning off the heat entirely to lower utility bills. While some creators have embraced this lifestyle for months, others are just now joining as part of their New Year’s resolutions. And it’s gaining traction! The Wall Street Journal reports Google searches for ‘No Buy Challenge’ have surged 40 percent year over year, reflecting a growing interest in financial minimalism.
Research supports that Gen Z’s frugality is driven by deeper concerns. A 2022 study from Indonesia found that younger generations are spending more sparingly due to factors like climate change and global uncertainty. The study highlights six dimensions of frugal behavior, including—planning purchases, bargain hunting, and prioritizing durability over trends.
This is all taking place in the age of TikTok consumerism, where people are tempted to buy the latest “must-have gadgets.” With more than a billion active users, the app has become a major driver of impulse buying with hashtags like “TikTok Made Me Buy It” to show for it, while creators advertise their latest finds as a way to put some money in their own pockets through commission.
“IT’S FUSING SOCIAL MEDIA, ENTERTAINMENT, AND SHOPPING…”
So while some users are pledging to spend less, others are being influenced to buy more—highlighting the ongoing battle between financial discipline and social media-driven consumerism.