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The latest money-saving trend taking over is the "no-spend month," which encourages TikTok users to cut out all non-essential purchases for a set period. The no-spend rulesThe "no-spend" challenge can last for a week, a month or even a full year. On its face, "the no-buy challenge is as much pragmatic as it is symbolic," according to Gregory Stoller, a professor at Boston University's Questrom School of Business. "The potential complication with the no-buy challenge is to what extent people are willing to honor their commitment," Stoller said. Rather than hop on the latest extreme fad, "it comes back to setting a budget and setting expectations," Rossman said.
Persons: Gregory Stoller, Ted Rossman, Stoller, Rossman, Paul Hoffman Organizations: Boston University's Questrom School of Business, Finance, Bankrate, CNBC
Before passing on a movie or dinner date, consider that turning down those invitations can "lead to frustration and emotional distress," he said. watch nowThere may be better ways to cut back, Hoffman advised, without sacrificing time with the people close to you. This seems like a good idea "with a relatively low ceiling," according to Matt Schulz, chief credit analyst at LendingTree. In this case, if you had $5,000 in a high-yield savings account earning 5%, you would have made roughly $250 in interest in a year. 'Cash stuffing' also forfeits interestAnother envelope method, called "cash stuffing," advocates for dividing up your spending money into envelopes representing your monthly expenses, such as groceries and gas, to stay on budget and out of debt.
Persons: Paul Hoffman, Hoffman, you'll, Matt Schulz, Bankrate.com Organizations: Getty, Federal Reserve, FDIC
Yale University is being sued over what students say is "systemic discrimination" against students with mental health disabilities. The officials never discussed alternate accommodations with her that would have allowed her to stay at Yale while she sought mental health treatment, the lawsuit says. The advocacy group, which is led by Yale alumni and current students, fights for better mental health accommodations at the school. Its policies are harshest "on students with mental health disabilities from less privileged backgrounds, including students of color, students from poor families or rural areas, and international students," it says. "The need for student mental health and wellness support continues to increase, and Yale remains committed to responding to this need," Peter Salovey said.
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