- Some people are embracing “low-buy year” to curb their consumerism and slash their debt.
- After an era of doom spending, many are tired of being strapped for cash.
- They say capsule closets, Vinted sales, and “Project Pan” promote mindful consumption.
Some people are getting serious about curbing their consumerism and needless spending by committing to a “low-buy year.”
While “doom-spending” was a tactic some used to make them feel better about the economy and geopolitical issues in post-pandemic 2023, it looks like that era is over.
Now, what’s hot are capsule closets and “Project Pan” — just two of the methods heralded as ways to save rather than spend during a low or no-buy year and help people develop a more mindful approach to consumption.
Elysia Berman, who documented her journey out of $48,000 worth of debt on social media, told Business Insider that the trend may be related to people tiring of the “pressure to keep up.”
“I think people are feeling a bit burned out,” says the New Yorker.
There’s a cost-of-living crisis, and while spending mindlessly was fun for a while, people are sick of being broke and owing thousands to credit-card providers and buy-now-pay-later apps.
“They’re tired of being sold to and taken advantage of,” Berman added. “People don’t want to be defined by their possessions anymore.”
The reality of micro-trends
Debt and personal finance have become huge on social media, particularly TikTok, in the past couple of years. There, you can find raw and candid conversations about salaries, savings, debt, and ways forward.
Ellen Robinson, who lives in London, noticed that the number of beauty products and clothes she’d been purchasing had been steadily creeping up in the past few years due to services like TikTok shop.
Rather than actually wanting the items she was adding to her cart, she was getting a rush from what that stuff represented.
“I was sort of buying into things because I wanted the lifestyle that thing portrayed in my head rather than the thing itself,” Robinson told BI.
Black Friday in November was a turning point for her because all the discounts felt “really in your face.” She’s also grown skeptical about the latest fashion micro-trends that disappear from social media feeds as quickly as they emerge.
“I feel like everybody’s now become more aware of how fast the trend cycles are moving,” she said. “Every couple of weeks, we’re like, it’s now the fisherman trend, it’s now the cute cat trend, or whatever, and I think people are just exhausted by it.”
Although she’s always been interested in sustainability, Robinson has stepped up her efforts and plans to purchase just 12 items in 2025. “Rather than not buying anything at all, I’m being a little bit more considered and buying myself one piece a month that fits into my wardrobe in a variety of different ways.”
The ‘one in, one out’ rule
Mia McGrath told BI that her low-buy year is about “becoming conscious about what I consume.”
The Londoner works in fashion, which means she’s under added pressure to look on-trend. However, she’s unsubscribed from the brands she likes and no longer receives tempting messages about their latest offers.
McGrath also follows the “one in, one out” rule and will only buy something new after getting rid of something else. She recently purchased a cashmere sweater, but only after she sold five items on Vinted.
To help others stick to their rules, McGrath recommends finding non-material things to consume, such as audiobooks or experiences with friends. “Maybe it’s traveling more or something that’s intangible that still means a lot to you — and reconnecting with that side of you that didn’t always see shopping as your only form of fun.”
Marika Thurlow, who is UK-based, is sharing her weekly purchases on TikTok to keep her accountable.
Rather than immediately make purchases, she now screenshots them and then comes back to them a week or so later.
More often than not, the urge to buy has disappeared. “It’s funny how your brain works. You just forget about things,” Thurlow told BI.
Rewiring the dopamine hit
Rashi Grover, who lives in Ontario, Canada, became wise to the realities of the dopamine hit from buying new makeup or clothing because it wouldn’t last.
“We click add to cart, and then for a few days, we’re excited about our order,” she said. “Then, as soon as it arrives, we play with it for maybe 30 minutes, and then that’s it, done.”
Growing up watching content on platforms like YouTube, Grover said she and many of her peers thought it was normal to aspire to have huge collections of makeup and clothes like the influencers they looked up to.
Now a little older and saving for a house, Grover realized she needed to stop. The fast-fashion hauls that were so popular during the pandemic now feel so wasteful, she said.
“I bought so much junk off Shein. A couple of months ago, I was going through my closet, and I was just so ashamed of myself.”
Instead of being tempted by makeup, Grover has been participating in “Project Pan,” which forbids buying more beauty products before finishing those you have already.
“It’s learning and distinguishing between a want and a need,” she said. “Do I really need this, or should I just be satisfied with what I have?”
Future you will thank you
Getting into debt is easy. Everything is “stacked against us” in this regard, according to Amos Nadler, the founder of Prof of Wall Street, who holds a doctorate in behavioral finance and neuroeconomics.
“It’s a battle to stay on the straight and narrow,” he told BI, especially with relentless marketing and something called “present bias.”
Our brains have evolved to heavily discount the importance of things the further away they are. That’s why it’s much more appealing to buy something right now rather than abstain for several months to get yourself out of debt.
Yet it’s possible to develop an appetite for saving rather than spending, Nadler said. Rules such as a “low-buy year” are a good place to start.
When Berman spoke with BI, she had just learned she had been laid off. But she was thankful she had started taking her finances seriously and has paid off more than $35,000. A year ago, “it would’ve been a totally different story.”
“These little financial lessons, they compound over time,” said Berman, who recommends a low-buy year to everyone — not just those in debt. “Future you will be grateful to past you for reining it in.”
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