Trendy "low-buy" challenges can be good for your wallet and mental health
Want to reduce spending without quitting consumption cold turkey? A "low-buy" year is trending for this very reason — and it can have a positive impact on not only your finances but also your mental health.
A modified version of previously popular "no buy" pledges, the low-buy version attracts a wider audience who finds the flexible approach more accessible and manageable.
Money isn't just about numbers — it's emotional, Dr. Clifton Berwise, clinical psychologist and clinical strategy lead for digital content at workforce well-being platform Modern Health, told CBS News.
"It's tied to our sense of security, our goals, and even our identity," he said, adding spending habits can have an impact on mental health in multiple ways.
"Overconsumption and mental health are deeply connected, often creating a cycle where some of our emotions can drive spending, and that spending can impact our well-being," he said. "Feelings like sadness, shame or even excitement can lead to impulsive spending and overconsumption — those small buys that seem harmless in the moment but can result in long-term financial stress and emotional strain. Over time, this can fuel guilt, anxiety, and a sense of losing control."
These challenges allow people to take back some control over their finances by spending mindfully or focusing on saving.
One TikTok user, whose post has garnered nearly 200,000 views, shared her low buy "rules" included limiting coffee runs to two times a week, not using takeout apps and not buying any novelty kitchen gadgets.
In a post with more than 700,000 views, another TikTok user shared she planned to unsubscribe to any paid apps and reduce her streaming platforms but is still allowing spending on family activities like going to the zoo or museum.
"(Stuff) is clogging my brain, clogging my life and I need it gone, and I need to save better," she said.
Another user with more than 800,000 views focused on specific items and services she wouldn't be buying or would swap for free alternatives, including hair salon visits (by embracing her natural color and trimming at home), new mugs (using what she already has), and books (using the library instead).
"Taking control of your finances can absolutely help you feel more in control of your life overall, and that sense of control is incredibly important for mental well-being," Berwise said. "A big part of financial stress comes from focusing on things we can't control — like rising prices or taxes. But when we shift our focus to what is within our control, like budgeting intentionally and creating realistic financial plans, it can be empowering."
Low-buy challenges can also be an opportunity to connect with other things that spark joy beyond spending.
For example, having a board game night with friends at home or reading a book you've had on your shelf forever. Or, instead of strolling around a store, connect with nature through walks outside.
How to start a low buy challenge
Set a realistic goal
Though many on social media aim for a low buy year, Berwise suggests starting off with a monthly goal.
"Since it's a challenge, it should have a start and end, and I would recommend no longer than a month when you first try it," he said. "Give yourself time to assess how you did and what you could do differently," he said. And if it goes well, you can start again.
Focus on moving forward
"It's not about perfection; it's about progress. If you slip up, it's OK. Treat yourself with compassion and refocus. Small, intentional steps can make a big difference in both your financial and emotional well-being," Berwise said.
Track your progress
Completing the challenge can have mental health benefits of its own.
"Completing these challenges successfully triggers the release of brain chemicals like dopamine and serotonin that signal happiness and calm and reduce feelings of stress," he said.
