Not Only Buy Challenge, Life Tips Are More Saving In 2025

Illustration of financial planning (Doc. Wise)

JAKARTA - In early 2025, Indonesian netizens were still busy voicing the No Buy Challenge 2025 trend, where people were invited to reduce excessive consumption. This trend began to spread on social media at the end of 2024, with content sharing items that were deemed not very important, as the content creator @axelbertus did on TikTok.

This invitation is seen as an effective way to deal with uncertain economic conditions, the potential for an increase in the price of basic goods, as well as a new government policy that has an impact on people's purchasing power such as an increase in VAT 12% and a new tax scheme in 2025.

However, not only by reducing the goods purchased, but there are other financial management methods that can be applied to create a more efficient and wise lifestyle in spending.

With the right financial management, the Indonesian people can better manage expenses and also save money. The key is to evaluate your spending habits and change these habits gradually but consistently. These steps will lead you to more controlled spending habits," said Elian Ciptono Head of Southeast Asia Expansion and Country Manager Wise in Indonesia.

Wise, a global technology company that creates the best way to send and manage money internationally, shares 6 practical tips to help people implement a saving lifestyle.

Before determining which expenditures will be reduced, first monitor the price fluctuations of basic goods and evaluate daily expenses. The increase in prices will certainly have an impact on the overall budget in the long term. Therefore, it is important for you to become a smart buyer. Always compare prices in various stores or service providers. You may not need to reduce these expenses if you find cheaper alternatives.

After adjusting the price of your daily needs, rearrange your budget. Pay attention to what are the biggest expenses and consider if you can still do your daily activities comfortably without these items. With this strategy, you can still control expenses without feeling depressed.

The cost of administrative transfers and top-up funds is often considered small, but the impact can be significant if it is carried out continuously. To be more efficient, make large transactions or use a platform with low administrative costs. In international transactions, pay attention to mark-up costs on the exchange rate. Make sure you monitor the exchange rate so you can make transactions when the exchange rate is cheap, and select a remittance platform with middle exchange rate and rend fee.

If you try to change everything at once, you will most likely find it difficult to maintain that change. Start from a simple step, such as reducing one type of expenditure and then slowly adding another reduction. For example, try to reduce buying coffee in your favorite shop. After successfully lasting for 3 weeks, you can start adding to other reductions. This small habit can have a big impact on your spending habits during 2025.

You can also consider buying wholesale for items that are not easily damaged such as canned food, bathing needs, and others. Especially when there are discounts or promotions so that you are more efficient in the long term.