No extra spending for an entire month sounds impossible. It’s certainly challenging, but nowhere near as hard as you think, as long as you have a plan. Here are six rules that will help inform your plan and make this “no-spend” month surprisingly simple.
Organize Your Budget and Goals Before You Start
Why are you doing this in the first place?
Write down your “why” and keep it somewhere obvious and unavoidable, ideally something you can see first thing in the morning.
This is also the time to create a new budget; your existing one won’t work. Remember to build in a small contingency fund to give yourself breathing room, just in case life throws something wild your way.
Keep Everyone in the Loop
A no-spend month will also inevitably lead to you declining invitations to dinner or other occasions. That’s okay, and all part of the process, but that doesn’t mean you shouldn’t let others know. Doing so will not only make your life easier, but you’ll have others on your side to encourage you and possibly even come up with alternatives to accommodate you.
Sidestep Temptation from the Jump
Remembering your why usually isn’t enough to keep you from spending. It’s best to remove temptation wherever you can. This might include unsubscribing from emails or turning off notifications. You could even consider going on a social media cleanse for the month, especially if you’re prone to buying things that cross your feed.
Get Real
What is a want and what is a need? The goal of your “no-spend” month is to differentiate between these two things. Every time you’re about to spend money, ask yourself if the thing is something you absolutely need to survive or function.
If the answer’s no, then it’s a no for the rest of the month. Be honest with yourself; it might be hard at first, but remind yourself that you’ll always be able to spend on the things you need, so it’s not deprivation so much as it is reprioritization.
Embrace Free Stuff (More Than Ever)
We love free stuff! And this is the month you’ll rely on it to have fun.
Be creative with your downtime and research all the exciting things you can do in your area without spending a dime. This is also the time to be resourceful and utilize the things you already have, like that adult coloring book collecting dust in your closet or those baking supplies you bought when you were obsessed with the idea of making bread. Because guess what? It’s bread-making time.
Schedule Weekly Check-ins
This is not easy, especially if it’s your first time.
Check in with yourself once a week and take stock of what’s working (or what’s driving you bonkers). Remember that while it’s crucial to hold yourself accountable and stick to your guns, you can always adjust your plan if needed. This isn’t about causing undue suffering; it’s about learning, so don’t beat yourself for slipups or throw out the entire plan just because you aren’t doing things perfectly.
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