No Spend Challenge? This is Why It Won’t Work

Are you thinking of doing a no spend challenge in the form of a no-spend day or no-spend week to help you save you money? 

Why No Spend Challenges Don’t Work

We like to think that making big, bold moves will help us. We like to imagine ourselves doing a complete overhaul of our lives within days. TODAY I will change. TODAY I will become the person I want to be. I will become more organized. 

Motivation is Temporary

Motivation is temporary. As Zig Ziglar so famously said, “People often say that motivation doesn’t last. Well, neither does bathing that’s why we recommend it daily”. It’s a good quote and true on many levels. The problem is that unlike bathing, we can’t just jump in the shower every time we need a good dose of motivation. It has to come from somewhere, and sometimes even our trusty sources of motivation let us down. 

What is a No Spend Challenge or a No Spend Day?

A no spend challenge or no-spend days or spending fasts or cash diets are times when you make a promise to yourself not to spend money on certain days or certain periods of time. They are all different words for the same basic ideas: taking a specific amount of time to not spend money (hence the no spend). 

No Spend Challenges Don’t Bring Meaningful Change 

You should try to reconcile the two things that you need (or want) to do with your need (or want) to save money and make better financial choices. What you need to do is to be able to make a change that can last and make a real difference- not bounce back and forth between extremes  

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