Kim (28), who works for a public relations agency, started carrying lunch boxes last month. This is to reduce the daily lunch cost. Coupons settle the price of coffee that costs a lot. Purchases of daily necessities are also paid with points collected through AppTech.
"When I looked at the expenditure details through the household accounting app, I thought I should reduce food expenses because even if the transportation cost is fixed, it is mainly for lunch and coffee," Jang said. "I heard that the recent challenge is in vogue." He said, "It's hard because of consumption habits, but I feel good because the financial situation seems to be improving."
Recently, the "No Expenditure Challenge," which does not spend a penny a day on soaring prices, is emerging as a trend. In particular, those in their 20s and 30s, who were represented by "You Only Live Once" in the past, are immersed in "App Tech" that receives points by performing what the app requires, such as walking pedometer and reviewing receipts, instead of reducing consumption.
According to a survey, the consumer sentiment index (CCSI) in August was 87. It fell 7.7 points from the previous month (94.7). The consumer sentiment index comprehensively shows consumers' sentiment on the economic situation, and if it is less than 100, it means that it is pessimistic. Analysts say that consumer inflation has risen to the 6% range, causing consumer sentiment to shrink.
Such contracted consumer sentiment led to a "no spending challenge" that practices "zero won" in daily spending and certifies it to online communities related to SNS or financial technology. In a financial technology-related community in Daejeon, posts related to the unexpected challenge are also receiving a lot of attention.
Lee (27) said, "I skipped breakfast and made a lunch box with ingredients at home. "I was able to reduce transportation costs by riding a bicycle, and I drank free coffee provided by the company," he said. "I didn't even make dinner plans for the challenge." "It's already been three days, and I'm satisfied with the fact that I'm reducing my unconscious spending."
More and more people in their 20s and 30s are collecting money in other ways instead of reducing consumption. Pedometer apps that accumulate money when walking on pedals, or receipt review services that provide points by posting receipt photos and reviews after visiting offline stores are popular.
A 21-year-old Choi said, "Apps like Toss pedometer and Monimo are really useful because they make money just by walking. "I think it's easier for college students without cars to see benefits," he said. "In the past, I heard that coupons or points at restaurants or convenience stores are stingy, but these days they are smart." Smart consumption habits have spread like a trend."
In response to this phenomenon, a local economics professor said, "As prices become too expensive, consumers are closing their wallets, choosing cheaper ones, or lowering their expectations," adding, "Consumers tend to choose to find the best path for cost-effectiveness, and in this situation, many consumers seem to be in the process."
