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Overconsumption is out, underconsumption is in: a guide to smarter spending

Researched and written by: Aya Kinsey

Cottagecore, kidcore, balletcore, gothcore, and even Barbiecore—these trends have all had their moment. But what about “underconsumption core”? With the rise of “underconsumption core” on TikTok, the era of microtrends and overconsumption is gradually being replaced by its more mindful, older sibling.

Our feeds are now filled with people sharing how they’ve stuck with the same makeup for years, wearing their mom’s old jeans, or even reusing jam jars as cups. This trend is about de-influencing the overconsumption lifestyle for a generation that grew up surrounded by low-quality, unsustainable, and disposable items. Instead, it encourages embracing the idea that less is more, and finding contentment in what we already have.

By applying the principles of “underconsumption core” to our finances, along with our tips, you can live a financially and mentally richer life.

1. Use the 30-day rule

Following the 30-day rule is as straightforward as it sounds. Before making an impulse purchase, pause and wait 30 days before going through with it. After this 30-day period, you'll likely find yourself in one of three scenarios: you completely forget about the item or it sells out, you decide you no longer need it, or you still feel compelled to buy it. This approach ensures you get the best value for your money.

However, it's important to note that this rule doesn't apply to all purchases. It’s intended for discretionary purchases, like getting that new Woozoo fan or a Stanley cup in another colour. By giving yourself 30 days to evaluate your buying decisions carefully, you'll find yourself spending less and saving more.

2. Don’t buy into micro trends

If you’re an avid social media user (as many of us are), you’ve likely encountered various microtrends—whether it’s everything adorned with bows or chapstick phone cases. Thanks to endorsements from major influencers (often for a paycheck), these microtrend items quickly find their way into our shopping carts without much thought. However, it's crucial to understand what microtrends are, as well as their financial and environmental impacts. 

Fast fashion, characterized by a constant stream of low-cost, trendy items (like those from H&M), may seem appealing, but it comes at a high price. These cheaply made clothes often fall apart after a few wears, contribute to overflowing landfills, and release harmful chemicals into the environment. Additionally, the industry relies on outsourced manufacturing in regions with compromised humanitarian standards. Before you pick up your next "bargain" item, consider the real cost behind it. 

Microtrends usually last only a few months before fading away, which means that the trendy new shirt you bought might soon become undesirable and left to collect dust in the back of your closet. These items are often made unsustainably and can quickly turn into wasted money as they go unused. Instead of purchasing from fast fashion websites and brands, consider investing in higher-quality pieces from sustainable brands if you can afford it. These items will last much longer, and if you think of it in "Girl Math" terms, the cost per wear eventually makes the item feel free. Another budget-friendly and sustainable option is thrifting: make a day of it with your friends and hunt for hidden vintage treasures at a fraction of the cost.

3. Make a list

Want to consume less? Make a list to choose from. Much like grocery shopping, when you write down all the things you want, you’re less likely to go off course and buy things on a whim. A list also helps you to prioritize your top few wants and work towards more valuable purchases. 

To help you with this, consider using a high-interest savings account (HISA) as a budgeting tool. When you come across something you want, such as a $30 sweater, put it in your HISA instead. Once you hit a savings goal, you can then choose what you want to do with your money.

For instance, your wishlist could include a $500 weekend trip, a $100 appliance, and that $30 sweater you wanted. Once you’ve saved $500, you could choose to go for the weekend trip or to buy one—or both—of the other items on the list. You’d even have money left over that you can put towards a new savings goal!

While you park your money in a HISA before spending it, interest accrues on your balance. Many HISAs also calculate interest daily while paying it out monthly, so the more carefully you consider your purchases, the more your savings will grow.

4. Get the most out of what you have

A crucial step in saving is recognizing the value of maximizing what you already own. Overconsumption can lead to unnecessary expenses and clutter. Instead of buying the same item in multiple colours or styles, consider sticking with versatile pieces, such as a staple white shirt that matches with more of your wardrobe. By embracing the philosophy “less is more”, you’ll not only reduce waste but also save money. 

Additionally, underconsumption doesn’t mean zero-consumption, so consider getting a high-reward or cashback credit card that aligns with your lifestyle and lets you make the most of your spending. For example, the American Express Cobalt® Card offers excellent rewards, while the CIBC Dividend® Visa Infinite* Card is ideal for everyday gas and groceries.

The bottom line

Overconsumption is out, and underconsumption is in. By embracing the power of less, you’re not just simplifying your life; you’re taking control of your finances. This means making smart choices like consolidating debt, using low-interest or reward credit cards, and avoiding unnecessary purchases. It’s about enjoying what you have and staying mindful of both your budget and the environment. With underconsumption, you can embrace a less-is-more mindset and thrive without harming the planet, or your wallet. 

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