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You might remember the trend of “revenge spending,” which became popular following the COVID-19 pandemic when consumers splurged on travel, dining, and shopping after a long period of lockdown. Today, the opposite is becoming increasingly popular.
“Revenge saving” emphasizes making up for poor financial habits by being aggressively frugal or restrictive with your current spending.
But is this another fun trend along the lines of a no-spend challenge — or does it signal an unhealthy relationship with money? And how can you incorporate the best parts of revenge savings to boost your financial well-being ?
What is revenge saving?
The antithesis of revenge spending, revenge saving is choosing to set money aside for a rainy day with the same intensity.
Following the COVID-19 pandemic, many Americans wanted to make up for lost time, splurging on travel, experiences, and more. But now, essentials like rent, groceries, and gas cost significantly more than they did a few years ago, thanks to persistent inflation, elevated interest rates, and higher tariffs . So, feeling the sting of regret, many are reeling in their impulsive spending habits and shifting toward a new money mindset known as revenge saving.
It’s important to note that revenge saving tends to be driven by fear or guilt rather than long-term planning. It’s a form of self-protection and control in uncertain financial times.
Even so, the trend does encourage more intentional spending habits and a reset of financial priorities. And data shows that it’s working.
Following a sharp dip from 2020 to 2021, the personal savings rate started recovering in 2024, signaling that consumers are making serious changes to their financial habits.
How to revenge-save your way to financial security
For some people, revenge saving is part of a personal rebrand after a financially reckless phase. It can feel empowering, especially for people who want to take back control of their money.
“The reality is that while revenge spending was popular post-pandemic, the minute you spent, the thrill was over,” said Bobbi Rebell, CFP® and personal finance expert at CardRates.com. “The beauty of revenge saving is that the minute you start saving, the thrill begins and will continue. The benefits grow as the savings increase through contributions, and, if money is invested well, through powerful compound growth.”
So, how can you implement revenge saving in a healthy and effective way?
Find a budgeting strategy that works for you
Budgets are not one-size-fits-all; it’s important to choose a flexible budgeting strategy that aligns with your spending style and needs. Having a strict budget in place may help you save money quickly, but it may not be the most sustainable over time.
There are several budgeting strategies to consider, such as the 50/20/30 rule , zero-based budgeting , and the envelope budgeting method , all of which work differently and all appeal to a different kind of financial personality.
“When it comes to taking control of your savings, adjusting your spending habits is the first thing to assess,” said Holley G. Cary, CFP, vice president and senior financial planner with First Horizon Advisors.
She recommended looking at your budget to find small purchases you don’t really need, such as extra streaming services or coffee runs. Then use those funds toward your revenge savings goal. “Something as simple as cooking a few meals at home versus ordering DoorDash or Uber Eats could save $60 or more a month,” she said.
Start small with a clear goal in mind
There’s no rule that says you have to go cold turkey and not spend any money at all. You can work your way up to saving more than you spend, little by little. Be realistic about how much you can comfortably afford to save and try to increase that amount over time.
“Ask yourself whether you want to set a short- or long-term goal,” Cary said. “Is it to recover from a period of overspending, build a financial safety net, or save for a big purchase? Pick a goal that makes saving feel purposeful.”
Try a no-spend challenge
No-spend challenges are a way to gamify your finances and help you stay motivated.
For example, you can challenge yourself to go 24 hours without spending money, then put the funds you would have spent on entertainment or eating out into a high-yield savings account . Try doing this once a month — or even once a week — and your savings balance will grow at a healthy pace.
Read more: How the 52-week savings challenge can help you save $1,300 in one year
