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'No buy year' | Challenge encourages us to buy nothing but essentials for one year

For a 'No Buy Year,' the rules are simple, buy nothing except for the essentials, like your rent or mortgage, utilities and food.

SAN DIEGO — Whether it's gas, groceries or rent, we're at a time for record-breaking bills. That's led some to accept a challenging new trend: buy nothing for an entire year. 

Could you do it? Could you only spend money on the essentials, for an entire year?

Experts said a "No Buy Year" could help you save money and the environment. It would mean wearing the clothes you already own, packing a lunch, and making your own coffee.

"My paycheck is basically gone, by the time the weekend is over," Keri Flick said. She and many others CBS 8 spoke to said they couldn't do it. Jasmine Washington said, "I would sign up for it, only because I have a really bad spending habit."

For a "No Buy Year," the rules are simple, buy nothing except for the essentials, like your rent or mortgage, utilities and food. 

"Do you really need it? This type of commitment allows you to slow down and investigate what your true needs are."

In a world where spending money is faster and easier than ever, the "No Buy Trend" is customizable and aims to slow us down, spend less and save.

"I could probably spend less on Amazon and a little less on Starbucks," Flick added.

"I could probably eat out slightly less and eat more at home," Brishen Sellers said.

Those who are on board with no unnecessary spending say they'll have to cut back on social outings, unsubscribe from ads that may be tempting and will only replace a product once its completely run out. 

"I do like to treat myself, because I feel like I deserve it," Brandi Tyler said.

No matter what rules you set for yourself,  it's all about being more mindful of our spending. So whether you take on the full year long "No Buy" challenge, or even just a month, not buying anything may prove to be priceless. 

While you can certainly save thousands of dollars, others are doing it as a way to limit their contribution to the world's waste, all in an effort to help our planet. 

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