Browsing Tag

frugal

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Korea’s growing ‘no-spend challenge’ trend has people saving more amid rising inflation

  • South Korea’s “no-spend challenge” trend has citizens saving more, with some boasting their zero-expenditures on social media.
  • On Instagram, there are currently over 3,000 posts using hashtags such as “no spend,” “no-spend challenge” and “no-spend day.”
  • One user, @jjeon_bu, dedicates their entire account to posting what appears to be weekly updates on their ledgers.
  • Their bio reads, “a new employee in their 20s who dreams of financial freedom.”
  • Each post is broken down into “income” and “expenditures,” with an explanation of some of the costs, including “books,” “appointment with friend” and “former savings.”
  • Koreans, especially those who belong to the Millennial and Generation Z age groups, are making an effort to cut out what they deem to be “unnecessary costs.”

South Korea’s “no-spend challenge” trend has citizens saving more, with some boasting of their zero-expenditures on social media. 

On Instagram, there are currently over 3,000 posts using hashtags such as “no spend,”  “no-spend challenge” and “no-spend day.”