Latest news with #NoBuy2025
Yahoo
4 days ago
- Business
- Yahoo
The 'No Buy' trend is catching on — and leading to big savings
Sometimes, getting your budget on track starts with a detox to wipe the slate clean and build new habits. Many consumers have taken on no-spend challenges to put themselves to the test and see if they can go a day, week, or month without spending money. Others have taken it a step further and adopted a 'no buy' year to cut out unnecessary spending and focus on what matters. Here's what you need to know about No Buy 2025 and how to incorporate it into your life. This embedded content is not available in your region. What is No Buy 2025? No Buy 2025 is a personal finance trend in which individuals commit to avoiding non-essential (AKA discretionary) purchases for a set period this year, which could range from a few weeks to the full year. One example of this trend in practice is 'No Buy July,' where participants challenge themselves to avoid spending money for the full month. 'No Buy July is like a financial detox,' said Hanna Kaufman, CFP® at Betterment. 'For one month, you hit pause on all non-essential spending — think: takeout, impulse Amazon buys, new clothes — and focus only on what you really need.' She explained that it's a challenge that helps people reset their spending habits, get clarity on their financial priorities, and boost their savings without having to make huge sacrifices. But some people are taking it a step further and adopting the trend for the entirety of 2025. For example, a Reddit group dedicated to the no-buy challenge boasts more than 70,000 members who share their personal experiences and tips. Many of those who take on the challenge start by creating a list of rules for themselves that align with their lifestyles. This could include hard rules such as 'no new clothes whatsoever' or 'no new technology,' as well as rules that limit the frequency of certain purchases, such as 'yes to takeout once per month' or 'yes to one nail appointment every two weeks.' Others have posted online about having a 'low buy' year, which means they're limiting the amount of purchases they're making, rather than cutting out non-essential spending altogether. The ultimate goal: Spend less and save more in order to reach larger financial goals, from paying off debt to buying a home. Read more: How the 30-day savings rule can help you stop impulse spending and save more money Why it works You may wonder why creating a simple budget isn't enough. While it certainly can be for many, some people need the extra motivation that comes from a challenge. 'Challenges work because they give you structure with a finish line,' Kaufman said. 'You're not saying 'no' forever, just 'not now.'' Kaufman added that joining a no-buy challenge also helps you break longstanding habits, like reaching for your phone to shop when you're bored, because you have the time to ask yourself whether you truly need or want an item. 'Plus, there's a little psychology at play — our brains love a good goal, especially when there's a sense of community and accountability behind it,' she said. Read more: 5 psychological money hacks to cut spending and increase savings There's also the added bonus of having built-in accountability partners, be it through close friends, family, or global online communities that are all working toward the same goal and experiencing similar pain points and victories. If your budget has been off track and you're struggling to get your spending under control, embarking on a no-buy challenge can be a good way to reset and remind yourself of what's important. Up Next Up Next How to participate in No Buy 2025 If you're thinking of getting on board and joining in on No Buy 2025, there are a few steps you can take to set yourself up for success. Create your no-buy rules The spending parameters you set should be unique to your situation. After all, no one knows your spending habits and pitfalls better than you. What are your nonnegotiables? What can you afford to cut out? Be honest with yourself about what you absolutely need, versus what is simply nice to have. It's also important to be flexible. For example, cutting out all non-essential purchases completely may be demotivating after a while, whereas limiting your 'fun' purchases to once per week or month will make you feel less deprived and motivated to stick to your plan. Set a savings goal Having an end goal in mind can make it easier to stick to the challenge. Imagine what you hope to accomplish. Perhaps your goal is to pay off your car loan, save for a down payment on a home, or set aside enough money to start a business. Knowing your 'why' can help you avoid veering off track when things get difficult. Find free joy Just because you're avoiding spending money doesn't mean you have to deprive yourself of the things that bring you joy. 'Replace shopping habits with low-cost (or no-cost) fun: picnics, hikes, library runs, or finally watching that streaming series you've ignored,' Kaufman suggested. Keep track of your progress Watching your savings increase over time can be a constant reminder that your no-buy challenge isn't limiting you; it's helping you get closer to reaching your financial goals. Consider using a budgeting app or spreadsheet to track your progress over time, and whenever you're feeling deflated, you can remind yourself how far you've come. Forgive the slip-ups You're aiming for progress, not perfection. If you have a moment of weakness and end up splurging, use it as an opportunity to learn. Then get back on track. 'If you cave and buy a latte or a concert ticket, don't quit the challenge,' Kaufman said. 'Reflect, reset, and keep going.'
Yahoo
22-07-2025
- Business
- Yahoo
The 'No Buy' trend is catching on — and leading to big savings
Sometimes, getting your budget on track starts with a detox to wipe the slate clean and build new habits. Many consumers have taken on no-spend challenges to put themselves to the test and see if they can go a day, week, or month without spending money. Others have taken it a step further and adopted a 'no buy' year to cut out unnecessary spending and focus on what matters. Here's what you need to know about No Buy 2025 and how to incorporate it into your life. What is No Buy 2025? No Buy 2025 is a personal finance trend in which individuals commit to avoiding non-essential (AKA discretionary) purchases for a set period this year, which could range from a few weeks to the full year. One example of this trend in practice is 'No Buy July,' where participants challenge themselves to avoid spending money for the full month. 'No Buy July is like a financial detox,' said Hanna Kaufman, CFP® at Betterment. 'For one month, you hit pause on all non-essential spending — think: takeout, impulse Amazon buys, new clothes — and focus only on what you really need.' She explained that it's a challenge that helps people reset their spending habits, get clarity on their financial priorities, and boost their savings without having to make huge sacrifices. But some people are taking it a step further and adopting the trend for the entirety of 2025. For example, a Reddit group dedicated to the no-buy challenge boasts more than 70,000 members who share their personal experiences and tips. Many of those who take on the challenge start by creating a list of rules for themselves that align with their lifestyles. This could include hard rules such as 'no new clothes whatsoever' or 'no new technology,' as well as rules that limit the frequency of certain purchases, such as 'yes to takeout once per month' or 'yes to one nail appointment every two weeks.' Others have posted online about having a 'low buy' year, which means they're limiting the amount of purchases they're making, rather than cutting out non-essential spending altogether. The ultimate goal: Spend less and save more in order to reach larger financial goals, from paying off debt to buying a home. Read more: How the 30-day savings rule can help you stop impulse spending and save more money Why it works You may wonder why creating a simple budget isn't enough. While it certainly can be for many, some people need the extra motivation that comes from a challenge. 'Challenges work because they give you structure with a finish line,' Kaufman said. 'You're not saying 'no' forever, just 'not now.'' Kaufman added that joining a no-buy challenge also helps you break longstanding habits, like reaching for your phone to shop when you're bored, because you have the time to ask yourself whether you truly need or want an item. 'Plus, there's a little psychology at play — our brains love a good goal, especially when there's a sense of community and accountability behind it,' she said. Read more: 5 psychological money hacks to cut spending and increase savings There's also the added bonus of having built-in accountability partners, be it through close friends, family, or global online communities that are all working toward the same goal and experiencing similar pain points and victories. If your budget has been off track and you're struggling to get your spending under control, embarking on a no-buy challenge can be a good way to reset and remind yourself of what's important. Up Next Up Next How to participate in No Buy 2025 If you're thinking of getting on board and joining in on No Buy 2025, there are a few steps you can take to set yourself up for success. Create your no-buy rules The spending parameters you set should be unique to your situation. After all, no one knows your spending habits and pitfalls better than you. What are your nonnegotiables? What can you afford to cut out? Be honest with yourself about what you absolutely need, versus what is simply nice to have. It's also important to be flexible. For example, cutting out all non-essential purchases completely may be demotivating after a while, whereas limiting your 'fun' purchases to once per week or month will make you feel less deprived and motivated to stick to your plan. Set a savings goal Having an end goal in mind can make it easier to stick to the challenge. Imagine what you hope to accomplish. Perhaps your goal is to pay off your car loan, save for a down payment on a home, or set aside enough money to start a business. Knowing your 'why' can help you avoid veering off track when things get difficult. Find free joy Just because you're avoiding spending money doesn't mean you have to deprive yourself of the things that bring you joy. 'Replace shopping habits with low-cost (or no-cost) fun: picnics, hikes, library runs, or finally watching that streaming series you've ignored,' Kaufman suggested. Keep track of your progress Watching your savings increase over time can be a constant reminder that your no-buy challenge isn't limiting you; it's helping you get closer to reaching your financial goals. Consider using a budgeting app or spreadsheet to track your progress over time, and whenever you're feeling deflated, you can remind yourself how far you've come. Forgive the slip-ups You're aiming for progress, not perfection. If you have a moment of weakness and end up splurging, use it as an opportunity to learn. Then get back on track. 'If you cave and buy a latte or a concert ticket, don't quit the challenge,' Kaufman said. 'Reflect, reset, and keep going.'
Int'l Business Times
15-07-2025
- Business
- Int'l Business Times
The "Wow Effect" Is No Longer Enough: How Businesses Can Stay Successful in the Age of Rational Consumption
Innovator Olga Osokina on how AI has changed the relationship between consumers and brands, why emotional reactions matter, and what makes the Labubu case worth studying. In recent years, the global trend toward conscious consumption has gained momentum. In 2025, its popularity surged—tens of thousands of people joined the No Buy 2025 initiative, aiming to go a year without impulsive or irrational purchases. And while this trend has a positive impact on the environment and mental health, it poses a challenge for businesses: traditional sales tools are losing effectiveness, and the cost of customer acquisition is rising rapidly. Olga Osokina, CEO of UME Tech, has developed a fundamentally new approach to working with consumer behavior. She explores the intersections of artificial and biological intelligence, integrating neurobehavioral analytics and cognitive architecture into marketing, sales, and product development. Olga is the winner of Innovator of the Year (International Business Award), Entrepreneur of the Year (Stevie Awards), and Innovation Leader of the Year (Global Innovation Online Awards, 2025). She also served as a judge at the Consumer Electronics Show alongside representatives from Meta, Amazon, and Netflix. Previously, Olga founded Mirri—a sensory learning platform for children with autism spectrum disorders. The results of its use were presented at several scientific-practical conferences, including those on inclusive education. This experience became the starting point for developing the biointelligence model in the business environment. From Emotions to Decision-Making Neuropatterns Olga Osokina notes that for a long time, marketing relied on the "wow effect" —the drive to trigger a strong emotional response. But today, that's no longer enough: "The modern consumer's brain has become 'immune' to one-sided stimuli. To achieve engagement, we need to understand how the brain processes emotions, visual signals, and price anchors. What works best is an emotional sine wave, a sequence of shifting states where peaks of interest alternate with relaxation and doubt. This dynamic is what activates conscious decisions, not impulses." Under Olga's leadership, the UME Tech team conducted a series of behavioral tests involving 214 users in an e-commerce setting. During the experiment, the following were tracked: glucose levels via CGM (continuous glucose monitoring), neural activation through wearable sensors, behavioral data: clicks, scroll depth, response speed, and CTA choices. The study was carried out in 2024 in partnership with experts in behavioral economics and neurophysiology. The pilot was not a clinical trial and was not intended for medical diagnosis; the goal was to validate hypotheses about how emotional scenarios influence behavioral engagement and motivation to act. All data was anonymized and collected in accordance with internal ethical standards of UX analytics. "We found that when an emotional scenario is built on contrast—for example, an anxious audio background at the start followed by a visually warm scene—engagement increases by 23–26%. And not due to impulse, but due to internal confirmation of choice," Olga emphasizes. AI as a Barrier: How the Brain Resists Algorithms Olga stresses that AI technologies, intended to enhance communication, are increasingly triggering subconscious resistance among consumers: "People intuitively sense when content is generated by an algorithm rather than a human. The sales funnel stops working, even if the communication appears personalized." Osokina's team developed neuro-oriented engagement scenarios based on cognitive rhythm—not aggressive swings, but a deliberate activation of trust. This creates the sense of "I made this decision myself," instead of "I was manipulated." Digital Avatars and Neuro-Negotiation in B2B In 2024, UME Tech introduced AI-avatar technology—digital brand ambassadors adapted to the audience's psychotype and cultural context. At launch, they helped companies nearly eliminate costs for paid audience acquisition. "Later we scaled this approach to the B2B sector. By applying speech dynamics patterns, visual trust markers, and negotiation tempo, we helped clients increase average contract value by 15–20%," Olga shares. The Labubu Case: Not a Product, but a Symptom of the Environment This case is presented not as a pop culture reference but as an example of how a product can resonate with the audience on a cultural and neural level. Labubu demonstrates how a brand can become an interface of cultural tension. As Olga Osokina notes, its image is built on the principle of semantic incompleteness: it's both cute and strange, fluffy and toothy. This activates a projection mechanism—the consumer fills in the meaning themselves, triggering the effect of an unfinished gestalt. Combined with a scarcity model (limited releases, exclusive collaborations), this creates predictive coding of desire. The toy tapped into already-heated themes—mental health, the inner child, and kidult culture—and became a neurosymbol of returning to oneself. Even the packaging became part of the engagement: an ASMR effect when opening, minimalist visual encoding, tactile material—all of which activate the ventromedial prefrontal cortex, the area of the brain associated with intuitive confidence. "Labubu is not hype—it's an environmental marker. It's not sold—it resonates. This is a new type of product power," concludes Osokina. The Future Belongs to Cognitive Interfaces According to Osokina, the cost of customer acquisition in 2025 has irreversibly increased and will continue to rise. The winners will be the brands that learn to activate not surface-level interest, but deep intention. "The future lies in cognitive extrapolation. When a person lives their ordinary life, but the system has already 'heard' their desire. This is not manipulation, but a return to oneself through an interface," Osokina summarizes. UME Tech's model is based on a multidisciplinary practice: behavioral economics, cognitive architecture, marketing, and AI analytics. It's at the intersection of these fields that solutions are born—not only adapting to the market, but anticipating its evolution. Olga Osokina emphasizes: "It's important to note that I consciously use terminology from neuroscience, cognitive psychology, and artificial intelligence within the framework of applied humanistic analysis. These terms do not replace clinical or academic definitions—I respect the boundaries of each discipline. My goal is to integrate knowledge from adjacent fields to find practical solutions for business and society."
Winnipeg Free Press
10-06-2025
- Business
- Winnipeg Free Press
Want to crush your debt? Financial experts suggest trying a money crash diet
Crash diets are extreme and unhealthy, but the financial version might actually make sense. Scott Terrio recommends them to his clients sometimes, as manager of consumer insolvency for Hoyes, Michalos & Associates Licensed Insolvency Trustees. The firm helps people filing for bankruptcy, or making deals to avoid it, with offices across Ontario. Terrio sees clients with a lot of debt, but if it's a relatively modest amount — maybe $5,000 or $10,000 or so — he tells them to try an 'extreme austerity program.' The premise is simple: Aside from rent, groceries and internet, cut absolutely all other spending, and live like a monk. Commit to this lifestyle for a handful of months, or more if you can; the short timespan will make it more tolerable, Terrio said. No takeout, no Uber, cancel your subscriptions, get a cheap phone plan, tell your friends you can't go out to restaurants or bars, he said. Pick the winter months when you're not tempted by summer patios. After a stint with the crash diet, you can take a break and return to normal life. If you aren't able to tackle all of your debt in one go, you can resume the crash diet later on in the year to reduce it further or eliminate it for good. On this plan, you can gain more ground on your debt in a much shorter time — especially with high-interest debts such as credit cards. Extreme austerity can save years on your repayment plan, Terrio said. 'Putting $300 down on your credit card is [nothing],' he said. 'But putting $700 for a few months is going to help you.' 'The downside is that it sucks, but you're on a mission,' he added. 'When you do all this, you will have taken what is a blip in your life of 12 months and fixed the problems that would have otherwise taken up 20 years of your life.' It's definitely not for everyone, Terrio said, but it's very effective for those with discipline and financial goals. Robin Taub, CPA and author of The Wisest Investment, sees the potential in a hard reset. A short-term crash diet can change habits and help 'subscription creep,' when you lose track of smaller monthly recurring payments, she said. Taub likened it to a recent experience where her credit card was compromised and she was issued a new card — all those websites and subscriptions didn't have her new card info, so she found herself updating them all individually. 'I was just reminded: Do I really want to give them my new credit card number and keep paying for this?' The answer was often no, Taub said. 'They really do add up without you noticing — it becomes a bit of a habit, and you're not as mindful of your spending. I think the idea [of a crash diet] is to regain that awareness and mindfulness around your spending.' Frugality trends with similar premises have been circulating on social media for years, Taub pointed out. Loud budgeting involves telling everyone you are on a strict financial plan so you don't feel pressured to spend money socially, while 'No Buy 2025' is a movement to make it through the year without buying any non-essential items. Cutting spending is also about sustainability, Taub said, which resonates with younger people. This demographic is also just simply feeling the pinch of the cost of living. 'A lot of young people are feeling this way,' Taub said. 'My kids say to me: Every time they walk out the door, it costs them $100, whether they're buying groceries or trying to do something fun with their friends. It's just really expensive these days.' Sean Cooper made the news for his extreme frugality — the Toronto-based mortgage broker and author of Burn Your Mortgage went viral for paying down his mortgage in just three years. Cooper owned his home outright at age 30. A major part of his financial plan was collecting rent: He lived in the basement of his home and rented out the rest of the property. But in addition to a strict budget, Cooper picked up side jobs as well. 'Earning an extra source of income is great,' he said. 'There are so many different opportunities to earn income these days. So it's looking at a skill and how you can make money from it, whether it's making YouTube videos or freelance writing or freelance web design, even pet sitting, dog walking — just find something that you enjoy and try to monetize it.' Make it hard to spend money, Cooper advised. Don't bring your credit card when you go out, take your credit card info off your phone, delete the info from online shopping sites, apps, and subscriptions. 'Do you really need five streaming services?' Cooper said. 'There's so many free streaming services you can watch.' After the crash diet, you might have found new useful habits, free hobbies, or the realization some past spending wasn't serving you. Another perk? A higher credit score. 'If you're paying your debt this aggressively, you're also rebuilding your credit,' Terrio said, 'because you're not only addressing 35 per cent of your score — which is transaction history — you're also addressing another 30 per cent of your score, which is credit utilization, because your debt is coming down.' 'So you can watch your credit score go crazy … You're pulling the two biggest levers of your credit score at the same time, over a short period.' This report by The Canadian Press was first published June 10, 2025.
Yahoo
10-06-2025
- Business
- Yahoo
Want to crush your debt? Financial experts suggest trying a money crash diet
Crash diets are extreme and unhealthy, but the financial version might actually make sense. Scott Terrio recommends them to his clients sometimes, as manager of consumer insolvency for Hoyes, Michalos & Associates Licensed Insolvency Trustees. The firm helps people filing for bankruptcy, or making deals to avoid it, with offices across Ontario. Terrio sees clients with a lot of debt, but if it's a relatively modest amount — maybe $5,000 or $10,000 or so — he tells them to try an 'extreme austerity program.' The premise is simple: Aside from rent, groceries and internet, cut absolutely all other spending, and live like a monk. Commit to this lifestyle for a handful of months, or more if you can; the short timespan will make it more tolerable, Terrio said. No takeout, no Uber, cancel your subscriptions, get a cheap phone plan, tell your friends you can't go out to restaurants or bars, he said. Pick the winter months when you're not tempted by summer patios. After a stint with the crash diet, you can take a break and return to normal life. If you aren't able to tackle all of your debt in one go, you can resume the crash diet later on in the year to reduce it further or eliminate it for good. On this plan, you can gain more ground on your debt in a much shorter time — especially with high-interest debts such as credit cards. Extreme austerity can save years on your repayment plan, Terrio said. 'Putting $300 down on your credit card is [nothing],' he said. 'But putting $700 for a few months is going to help you.' 'The downside is that it sucks, but you're on a mission,' he added. 'When you do all this, you will have taken what is a blip in your life of 12 months and fixed the problems that would have otherwise taken up 20 years of your life.' It's definitely not for everyone, Terrio said, but it's very effective for those with discipline and financial goals. Robin Taub, CPA and author of The Wisest Investment, sees the potential in a hard reset. A short-term crash diet can change habits and help 'subscription creep,' when you lose track of smaller monthly recurring payments, she said. Taub likened it to a recent experience where her credit card was compromised and she was issued a new card — all those websites and subscriptions didn't have her new card info, so she found herself updating them all individually. 'I was just reminded: Do I really want to give them my new credit card number and keep paying for this?' The answer was often no, Taub said. 'They really do add up without you noticing — it becomes a bit of a habit, and you're not as mindful of your spending. I think the idea [of a crash diet] is to regain that awareness and mindfulness around your spending.' Frugality trends with similar premises have been circulating on social media for years, Taub pointed out. Loud budgeting involves telling everyone you are on a strict financial plan so you don't feel pressured to spend money socially, while 'No Buy 2025' is a movement to make it through the year without buying any non-essential items. Cutting spending is also about sustainability, Taub said, which resonates with younger people. This demographic is also just simply feeling the pinch of the cost of living. 'A lot of young people are feeling this way,' Taub said. 'My kids say to me: Every time they walk out the door, it costs them $100, whether they're buying groceries or trying to do something fun with their friends. It's just really expensive these days.' Sean Cooper made the news for his extreme frugality — the Toronto-based mortgage broker and author of Burn Your Mortgage went viral for paying down his mortgage in just three years. Cooper owned his home outright at age 30. A major part of his financial plan was collecting rent: He lived in the basement of his home and rented out the rest of the property. But in addition to a strict budget, Cooper picked up side jobs as well. 'Earning an extra source of income is great,' he said. 'There are so many different opportunities to earn income these days. So it's looking at a skill and how you can make money from it, whether it's making YouTube videos or freelance writing or freelance web design, even pet sitting, dog walking — just find something that you enjoy and try to monetize it.' Make it hard to spend money, Cooper advised. Don't bring your credit card when you go out, take your credit card info off your phone, delete the info from online shopping sites, apps, and subscriptions. 'Do you really need five streaming services?' Cooper said. 'There's so many free streaming services you can watch.' After the crash diet, you might have found new useful habits, free hobbies, or the realization some past spending wasn't serving you. Another perk? A higher credit score. 'If you're paying your debt this aggressively, you're also rebuilding your credit,' Terrio said, 'because you're not only addressing 35 per cent of your score — which is transaction history — you're also addressing another 30 per cent of your score, which is credit utilization, because your debt is coming down.' 'So you can watch your credit score go crazy … You're pulling the two biggest levers of your credit score at the same time, over a short period." This report by The Canadian Press was first published June 10, 2025. Nina Dragicevic, The Canadian Press
