A British woman has detailed how she spent an entire year buying nothing but the bare necessities and saved £22,493 ($37,100) in the process.

Londoner Michelle McGagh spent 10 years working as a personal finance journalist, but despite that, rarely paid close attention to her own spending.

Writing in London's The Daily Telegraph she explains that taking out a hefty mortgage in 2013 led to some belt tightening and an extended period of living without most of her possessions while she and her husband renovated.

That led McGagh to re-evaluate her relationship with money and consumerism. Inspired by Buy Nothing Day, she pledged not to spend anything for a year.