Libby Brooks, left, and Ashlee White are trying to reduce their spending this January. Libby Brooks/Ashlee White
Libby Brooks and Ashlee White are both attempting a “frugal January.”
This challenge is about reducing monthly expenses. White suggests sticking to realistic rules.
Brooks said that “challenges like these can help limit the amount of consumption.”
This is a machine translation of an article from our US colleagues at Business Insider. It was automatically translated and checked by an editor.
Libby Brooks, 27, recalled not feeling like cooking when she stopped at a pharmacy one evening. There was a Mexican fast food restaurant nearby, she said.
“I was really tempted to just grab something to eat on the way home,” Brooks told Business Insider (BI). “I don’t have to cook at home. I can save some time this way.”
More conscious consumer behavior through controlled spending
But she resisted the siren song of the Mexican fast food joint. Instead, she found something to eat at home because “no takeout” was one of the few rules she set for her No-Spend January challenge.
“I think this is a perfect example of a case where convenience would have prevailed in a normal month where I might not pay as much attention to these rules,” Brooks said.
Brooks and others are trying to limit spending as much as possible in January. They do this by setting rules to reduce spending or purchases that month. People like Brooks share their experiences with the challenge Tiktok.
“I just realized that a lot of people are tired of having so much stuff,” Brooks said. “Challenges like these can help limit monthly, weekly or daily consumption.”
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It is always possible to try the challenge
Ashlee White, 29, is trying the challenge for the first time and reports on her Tiktok-Account. She said she tried something similar in August but it didn’t go well as she quit after a few days.
White said the January Challenge is going well. She attributes her success to having little things to look forward to, like eating out once a week or having a special sweet drink.
“I think that not cutting out all the fun expenses will work out better this time, and that I can realistically incorporate that into my spending habits going forward,” White said.
Even though January is already a few weeks old, you can still try to reduce your spending. “You can go 30 days without spending and just see how it affects your bank account or spending habits,” White said.
Below you will find tips from Brooks and White for anyone who wants to take part in this challenge.
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Determines spending areas in advance
Brooks said to figure out which areas you spend the most in before trying the challenge to figure out what personal rules you should set. Clothing and eating out are the two main categories she spends the most on, Brooks said. But for someone else, this might not be something they want to spend their money on at all.
Brooks noted that accountability is important in this challenge. People can do this by telling friends and family about their plans to spend less money. This can stop them from “inviting you to expensive activities if they know in advance that you’re trying to complete this challenge,” says Brooks.
Recording a video about the challenge every day can also help create commitment. Brooks said that her success is “probably a product of the fact that I post on social media, but I would say anyone can do this even if they don’t do anything with the video.”
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The rules should not be unrealistic
The rules White set for January are realistic for her life, she said. Her rules include eating out only once a week, one special sweet drink a week and “absolutely not spending any money on clothes because that is my biggest consumption excess.” Another rule states that she must be able to make-up. up that she needs for her work as a hair and makeup artist.
White advises others to keep their rules for the challenge realistic and not completely forego things that are part of their daily routine. For example, you can resolve to drink less coffee, but not give it up completely. One of the rules White laid out is making coffee at home.
“I thought the ‘no coffee outside the house’ rule would be my biggest problem,” White said. “That was the easiest part because I just make sure I always have a drink with me when I leave the house, and then when I’m out and about I’m like, ‘Oh, I don’t have to stop and get something; I already have something.’”
Brooks has also set rules for spending. “I try to avoid all unnecessary expenses,” Brooks said. “For me, that means buying new clothes, eating fast food out or just a quick meal instead of cooking at home, and not buying unnecessary or expensive entertainment like concert tickets.”
Find a way to track progress, such as a calendar
Brooks keeps a January calendar on the back of her study door. In it she enters what progress looks like in this year’s January Challenge. “Personally, especially when faced with financial challenges, I am most successful when I try to make a game out of it,” says Brooks.
Brooks not only writes down the day, but also writes down the things she wants to purchase at the bottom of the sheet. She also wrote down the rules for the challenge on the calendar.
Brooks uses a calendar to keep track of the challenge. Courtesy of Libby Brooks.
If you see something you want to buy during the challenge, write it down and wait
Above all, White recommends using the Notes app and writing down the things you want to buy. “Then you let it rest for a few days,” says White. “Don’t automatically buy something because after a few days you will probably completely lose interest in what you were planning to spend your money on.”
White plans to continue this strategy even after the competition ends. “I think I’m definitely going to think a lot more about my purchases, especially the ones I didn’t think about before I bought them,” White said. “I think this will completely change the way I spend money.”
Think about what you can do to avoid breaking a rule
If you want to take on the challenge, you may have to go to the office like Brooks, who works at a large company. Making your own lunch can be a big help in reducing expenses.
“I tried to prepare for this challenge by washing an apple the night before and placing it on a cutting board with a knife and a plastic bag next to it,” Brooks said. “I don’t necessarily prepare my entire lunch, but I’ve already taken the first step so I can get started.”
She also prepares her coffee – with everything in the coffee machine set up so that all she has to do is press a button.
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