The Buy Nothing Trend!

A friend recently posted on her social media that she’s embracing the Buy Nothing trend for 2024. The premise of this is pretty straightforward – you literally buy nothing except for the essentials like food and toiletries (only when you run out!). Clothes, books, gadgets – everything else is on the buy-nothing list.

Then I have another friend who decided to sell her car and just use public transportation as well as e-hailing services to get to where she wants. “I don’t want to deal with a loan on something that’s a liability!” she shared when I asked why she decided not to own a car anymore. Plus, not having to go through traffic day in day out was also one of her biggest whys. Same friend – she also decided she won’t be buying a property any time soon and will most likely spend the rest of her life renting. “Everything’s temporary and I don’t want to have any form of attachment or commitment.” She seems to be doing pretty great with these life decisions and is instead using the money she would have spent on repaying loans to travel instead!

Cue the minimalism trend. From clothes to cars, many of us are making a huge commitment to literally not buy anything at all or pay for services that are considered materialistic. For some, the commitment is inspired by a desire to minimise their impact on the planet and to better appreciate what they already own. For many, it’s a way to reset their thinking of what they really need versus what they really want. Also, with the cost of houses and cars rising and with inflation always in sight, the Buy Nothing trend comes in at the right time when many are reconsidering how to make their ringgit stretch longer.

Let’s all get honest now: We can live without things. That extra shirt that’s just like many of what you already have in your wardrobe, another pair of sneakers added to the pile of others waiting to be worn, a new phone when your old one still works well… the list goes on when it comes to “wants”. Plus, we are often bombarded with things to buy, and with the convenience of online shopping, we can get our heart’s desire the very next day with instant delivery!

Now imagine if you bought none of that at all. Not only will you save some serious cash, the mental load of having too many stuff dissipates, freeing up clutter in your mind to focus on other things like experiences, learning new things, and doing things that bring long-term satisfaction instead of the short-term “I get to wear something new today” gratification.

Also, not having a 10-to-30-year loan on houses and cars allows you to enjoy greater financial freedom and stability. Many are finding that without a mortgage, they have a sense of security and peace of mind where they are not constantly worried about meeting payment deadlines. This allows them to allocate their resources towards other pursuits that are meaningful to them – hobbies, travel or personal development.

Some research also states that happiness is derived from experiences, not things. A 20-year study by Dr. Thomas Gilovich, a Cornell University psychology professor, states this conclusion: Don’t spend your money on things for this simple reason: The happiness they provide fades quickly. And for these reasons: What was once new quickly becomes old and boring; the human brain is wired to always look out for new, better things; and no thanks to social media, we are always comparing our “things” with other people, often coming short with what we already own. Simply put: New things are great at first but they soon become old hence we always look for newer things to replace them and that short-term joy we get from consumerism!

We get it – it’s not easy to just stop buying. I’ll be honest; I tried the Buy Nothing trend for three months and then found myself falling back into the trap of new things. Experts’ advice? Take it slow. If you can’t manage a full year without going shopping, maybe start with not buying things you don’t need. It’s also interesting to note there are a lot of Buy Nothing groups on social media where people exchange or reuse pre-loved items. But don’t start hoarding from these groups – that will bring you back to square one of owning things you don’t need!

I’m planning to give the Buy Nothing trend a go again. Are you ready to join me?

Photo by Kelly Sikkema on Unsplash.