Project Pan, No Buy 2025, deinfluencing: The money trends you need to know about this year

This paid piece is sponsored by The First National Bank in Sioux Falls.

Now that we’re in the new year and resolution-setters have made their goals known, you’ve maybe heard some terms floating around like “Project Pan” and “no-buy challenge.”

After we all were constantly tightening our wallets to combat inflation in 2024, it seems that 2025 is shaping up to be the year of underconsumption.

Whether it be by force — less wiggle room in the budget — or by choice — a mass shift toward minimalism and sad beige aesthetics — this year is going to be all about less.

So if you’re interested in joining the underconsumption movement this year, we’re breaking down the biggest 2025 money trends you need to know about.

Project Pan

Although it’s not a new concept, Project Pan is coming back in a big way this year.

For this challenge, participants must use up all their skin care products, hair care products, makeup, fragrances and other cosmetic items before they can buy new ones.

If you buy deodorant in bulk, are a frequent victim of the semiannual sale at Bath & Body Works, like to keep 10 shades of lip gloss on hand or even just forget what you have at home and accidentally buy more of your daily essentials than needed, this trend might be for you.

It’s also a great money-saving goal to set for yourself because using the products you already have on hand means there’s no need to buy new or more.

Search “Project Pan” on social media and you’ll find a wide array of videos in which participants take inventory of their stashes. You’ll also find some helpful tips on how to approach this challenge.

Here are just a few we have to offer:

• Organize your cosmetic items in a way that makes it easier to see what you have. Note, however, that this does not mean spending money unnecessarily on storage solutions for these items; use what you have in that case too!
• Use everything you have to the last drop. Remember that this is about saving money and practicing sustainable consumption and you don’t get bonus points for how quickly you finish the challenge.
• If there are cosmetics in your stash that you just don’t like, it might be time to let them go. For new and unopened cosmetics, find a place in your area that accepts these kinds of donations such as homeless and women’s shelters. For used or opened items, see if you can pass them off to a friend or family member where it is sanitary to do so.
• Keep a record somewhere of the items that you got rid of, did not like or had a hard time using up. That way, you can avoid spending your hard-earned money on those products again.

No Buy 2025

The No Buy 2025 challenge is a lot closer to Project Pan than it sounds, although it takes that trend a step farther.

While it doesn’t mean you can’t spend money on anything in 2025, this challenge is about spending only on necessities or items you need to replace.

The best aspect of the No Buy 2025 trend is that everyone gets to make their own rules. You can decide what you will or won’t spend money on this year such as entertainment, new clothes, takeout or DoorDash, coffee shop lattes — and the list goes on.

For example, someone who works on their feet all day probably will need to replace their shoes a few times throughout the year — but maybe that person will choose not to spend money on new shoes for any other purpose.

If you’re interested in doing a No Buy 2025, these tips can help you start:

• Decide what you’ll be cutting out of your spending in 2025, and then put it in writing. Whether that’s a paper list hung on your refrigerator or a note in your phone, make sure you have a record of your goals so you can hold yourself accountable.
• Consider pairing Project Pan with your no-buy challenge. You can add cosmetics to your list by committing to replacing them only when you run out completely.
• Think about whether you want to make an exception for thrifting. Some participants are allowing themselves clothing purchases as long as they are thrifted or purchased secondhand.
• If you want to take the challenge a step further, set a goal for what you want to do with the money saved during your no-buy year. Maybe it’s going into your investment accounts, or maybe you’re starting a vacation or concert fund for next year.

Deinfluencing

You guessed it: This trend is in juxtaposition with the celebrities, Instagram models and content creators constantly trying to sell you things on social media.

Deinfluencing essentially is talking yourself out of making unnecessary or expensive purchases. Or, rather, it’s allowing others to talk you out of making unnecessary or expensive purchases.

Before you make a big purchase like a fancy coffee maker or a Dyson Airwrap, do your research!

See if you can find deinfluencing videos or honest reviews on social media. Read product reviews wherever they’re available — especially focusing on what others didn’t like about the product and whether those things would be deal-breakers for you.

And when you’ve successfully talked yourself out of making that purchase, write it down somewhere — including the price — so you can keep track of how much money you “saved” throughout the year.

2025 money trends: What is your ‘why’?

Before taking part in any of these 2025 money trends, you should determine why you want to do so. Without proper motivation, it will be easier to give up down the road.

Do you want to lead a more sustainable lifestyle?

Do you want to save money?

Do you want to declutter your living space?

Whatever your motivation, First National Bank is here to help you along your underconsumption journey in any way we can.

And if you want to have a conversation about what to do with the money you save, reach out to a member of First National Bank’s personal banking team, or stop by a branch. They can’t wait to chat with you about your progress throughout the year!