As 2023 is nearing its end, many people are rushing to make their resolutions for 2024. Some decide to finally make use of that gym membership, others take up a new hobby, like knitting. There’s also a chance to get your finances in order. Starting from the new year, people make a budget and resolve to stick to it for the entire year.
One woman successfully did it in 2023. She decided to make 2023 a no-buy year. TikToker vomitgrocery, aka Angela Szot, shared her no-buy journey online. Angela monitored her finances throughout the year and was able to pay off $19k in debt on a baker’s salary of $45k. To help others do the same, she shared her methods in a couple of videos. Check them out below.
Many people struggle to come up with effective methods on how to get out of financial debt
This woman challenged herself to a ‘no-buy’ year to pay off debt
“Hi, my name is Angela and I have been on a debt-free “no-buy year” journey all of 2023 and I’ve paid off a little over $19,000 in debt. And this is my exact method.
I am not a smart finance girlie. I do not know how to use spreadsheets. I got this $2 notebook from Walmart. And it’s been my lifesaver.”
“I dedicate three pages to a month. So the first page is just all of my bills, my pay days, the hours I get paid and the total and my total debt and savings. Any time I pay off something, I give it a checkmark. And that’s perfect.”
“Page two is my spending categories. And you can make up whatever categories you want. But anytime I make a purchase, I write down what the total was. And I just put it into whatever category I think it fits in.”
“For the third page, it’s just the end-of-the-month total. So I add up all of the money from each category and put them into their finals page. And that’s the whole month.”
“And so at the end of December, I will be able to find out all the money I spent on every single category I put it into. Every single dollar I spent will have a category. I can’t wait.”
Over 300K people viewed Angela’s video on TikTok
@vomitgrocery Replying to @Ana Hartnett Reichardt Author I’m just a girl😫😩 #debtpayoff #debtpayoffjourney #justagirl #creditcarddebt #justagirlintheworld #mymethod ♬ original sound – Angela Szot
The TikToker later shared the rules she set for herself during the no-buy year
Image credits: vomitgrocery
@vomitgrocery Replying to @Lovedbykeiki #greenscreen RULES AND REGULATIONS #nobuyyear #nobuyyearrules #debtfreejourney #creditcarddebt #debtpayoff ♬ original sound – Angela Szot
The woman says she was looking for ways to change her wasteful spending habits
The woman in the videos, Angela Szot, spoke with Buzzfeed and told them why she decided to share her no-buy year journey. Angela said she started noticing her spending habits and realized she wanted something to change.
“I was noticing that I was getting cranky and annoyed with myself about the same things over and over,” the woman said. She then named some of the things that frustrated her: “Food waste, buying art supplies and never touching them once I got home, my plants constantly dying and me retrying.”
“I was sick of myself, and it was time to do something about it,” the woman said. And she certainly did. Angela monitored her spending for a whole year and was able to pay off $19k in debt. I, for one, envy her the willpower and the self-control not to buy new books and pretty candles on random occasions.
Admittedly, Angela told Buzzfeed that this was the most challenging part of her year. “The hardest part of this challenge for me is not buying trinkets and home decor. I’m a homebody, and adding new elements and pieces to my space brought me a lot of serotonin,” the creator said.
Angela also had some advice for people who she might inspire to try something similar. “Make realistic achievable goals and come up with your plan,” the woman said in an interview with Buzzfeed. “Write all of your rules down, make your final purchases that will help you stay true and on track, and then start immediately. But remember that gratification isn’t always instant,” she also added.
Image credits: Lukas (not the actual photo)
A no-buy year should start with a list of dos and don’ts
Just like Angela pointed out in her second video, it’s useful to make no-buy year rules for yourself. The most important thing to consider is that everyone’s list might look different. Just as the reasons why you might be doing this.
Maybe you’re inspired by Angela’s numbers and want to reduce your debt. Perhaps you want to start leading a more minimalist life and be friendlier to the planet. Your reasons for a no-year (or quarter, or month, or week) will correlate with the rules you set for yourself.
You should pick out the areas you spend the most money in. It can be clothing, dining out or supplies for your hobby (mine would be collecting vinyl records – that is one expensive hobby.)
All of these things should go to a ‘no’ list. Another list is for ‘approved’ purchases. That includes food, medication, bills, transportation (gas), experiences and vacations.
Image credits: picjumbo.com (not the actual photo)
Doing a no-buy year can help change your spending habits
Doing a no-buy year is not a breaking new idea. Some personal finance and minimalist living bloggers have shared their experiences with the challenge before. For those who are considering doing it, here is some more advice and opinions from the people who have tried it.
People can tweak their rules and shift some items from the ‘no’ list to the ‘yes’ list. The Happy Philosopher, for example, decided that eating at restaurants, streaming service subscriptions and a few other areas are okay. Aimee Rebecca chose to limit some purchases instead of getting rid of them completely. These included beauty products, takeout and alcohol.
Another participant, Ryan from the Tiny Life blog, found a way to still read tons of books without buying them. He either downloaded audiobooks on his phone or used the library to check out physical ones.
Former fashion designer and Danish YouTuber Signe says her no-buy challenge changed into a low-buy challenge. She couldn’t commit to a strictly no-buy plan because her body was changing considerably after her pregnancy. Therefore, she found that she had to buy at least 2 pieces of clothing each month.
However, most of the people that have shared their journeys online agree on one thing – a no-buy year can significantly change the way you spend your money. People start prioritizing repairing their houses, furniture, and clothing. When the next Black Friday comes around, they find themselves not wanting anything that’s advertised to them.
Image credits: David Gomes (not the actual photo)
People in the comments praised Angela for her simple but effective method
