How To Achieve A Successful 'No Spend Month'

Monday, April 15, 2019

How To Achieve A Successful 'No Spend Month'

You may have seen others talking about a No Spend Month so today I'm going to explain to you what it is and how you can successfully commit to your own No Spend month.  

Basically a No Spend Month is when you commit to only shopping for the essentials you need without any recreational or extra spending.  This means your gas, groceries, medications, and anything else that's a basic essential need that you budget for each month.  This also means no eating at restaurants, no shopping for clothing, no impulse buys, and no fun purchases.

So how exactly do you do this successfully? on.  

Choose the right time. 

If you have a month where there's lots of holidays, events, birthdays, or a vacation, you definitely shouldn't plan that as a No Spend Month. That's going to make it way more difficult for you and practically impossible so just don't set yourself up for failure.  I always try to choose a quiet month where not much will be going on like in the Winter time. 

Be open. 
Let your friends and family know what you're doing so they can be understanding and supportive.  This will also remind them to not plan any occasions for dining out with you involved since you won't be spending money on that for the next 30 days. 

Write your rules. 
Get a piece of paper and write down some rules for yourself and place it somewhere you'll see it often.  Maybe your front door will be a great reminder or perhaps you want to set it as your phone wallpaper and desktop background.  Maybe you want it in your wallet as an instant reminder to avoid spending unnecessarily.   Make sure you remind yourself that you can ONLY spend on absolute necessities.  But also keep a list of what you can't spend money on. Drill it into your own brain. 

Accept emergencies. 
So what if a pipe bursts in your house? Does that mean you've failed the challenge?  I guess it all depends on the person but in my opinion NO because having plumbing that works is absolutely necessary so in my eyes it's okay to spend money on an emergency.  Other emergencies could be you going to the doctor's for being sick, an emergency vet trip, or a broken headlight on your car. 
How To Achieve A Successful 'No Spend Month'

Plan your month. 
Think of things you can do FOR FREE to occupy your time and write them down in a list so if you feel bored and stir crazy you can choose one of these activities to do.  Master the art of meal planning when you plan your dinners for the entire month so you REALLY can't go astray and eat out.  Remember that in order for a successful No Spend Month you need to plan ahead.  Also, don't forget that if you're afraid of getting bored you can always READ FREE BOOKS at your local library!  Also you can get a free meal planning printable kit in my Home Management Binder.  Seriously, it's all free. Get it here

It's okay to fail. 
So maybe you don't make it the entire month and you slip up...that's okay.  The best part about the No Spend Month challenge is that you can try it again on another month!   

Be productive.  
You know what doesn't cost money? Cleaning your home!   Consider decluttering your closet and purging your home. 

So what do you do at the end of your successful No Spend Month? 
What was the point of it all? Well not only does it help you practice NOT spending money but if you use my budget system then you're different envelope and savings categories may have some money in them that you DIDN'T touch.   You can either keep it in those categories or if it's something like Restaurant fund you can take the money you saved out and use it for something else!   It's also proof to yourself that you CAN be disciplined with money. 

Have you ever done a No Spend Month?  How'd it go for you? 

Oh and here's 36 more ways to cut your spending each month.

How To Achieve A Successful 'No Spend Month'

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1 comment:

  1. I haven't done one of these in a long time.


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