No-Spend Challenges
No-Spend Challenges can be a great way to save money, but many (like me) have found them to be counterproductive.
No-spend challenges can help you save money, but they often get very mixed reviews. I was never very good at no-spend challenges. I’ve tried them several times, but every time, I found that I would spend more before the challenge in anticipation of not being able to spend, or I would succumb to the temptation and buy something only to then feel I failed the challenge and quit. This made the challenge feel counterproductive. Here are a few tips I’ve learned to help make no-spend challenges work better for me.
#1 - Have a specific goal, a strong why, and write it down! - Having a specific goal and a strong why could help keep you motivated during those very tempting times of wanting to spend money. They also say you are 42% more likely to achieve your goal if it’s written down, so I suggest writing down your goal along with your why and keeping it somewhere you will see often. I found that if I don’t have a specific goal, then it’s harder to feel like I am getting anywhere in my savings. We always contributed to our savings, but it seemed like our savings amount was always a slow crawl. However, when we had a specific goal of saving for a vehicle and a deadline when we needed the money, I was surprised to see how much quicker we could save. We were motivated and could more easily say no to things we would have thought were needs but were actually wants. Make a goal, know your why, and write it down!
#2 - Start a wish list of items – I am very much a list person. I have lists for all sorts of things to help me remember or even organize my thoughts. When I heard of this concept, I knew it was for me. Starting a wish list of items that come to mind during no-spend challenges could help trick your brain into thinking you are doing something about your wants. This could relieve the stress or itch of thinking you must buy the item right now. This might also give you time to decide if that item is really a need or a want. Knowing how many times I failed no-spend challenges, I knew this was something I needed to try.
Some will make written wish lists, and others use online shopping carts for their lists. They put items in their shopping carts but will not check out or finalize the purchase yet. At the end of the no-spend challenge, go back and review the items you thought you needed (either written or placed in your online shopping carts) and decide if it is still a need.
#3 - Remove saved payment information - On any websites or apps you shop, go through and remove any saved payment information. If it forces you to put in the extra effort of getting up and finding your info, it could help give you time to rethink whether that item is a need or just a want. This tip has saved me money a few times.
#4 - Delete shopping apps - These apps can be a constant advertisement in our faces reminding our brains over and over again about shopping. Get rid of any apps that cause you to shop.
#5 - Review subscriptions - So many of us have recurring subscriptions that we don’t even use. Use this time to review your subscriptions and cancel any that you are not using. This can easily help add to your savings.
#6 - Watch or read about minimalism, cleaning, and/or hoarding (My favorite tip!) - I strive to do what I can to make life easier. I have found that having more stuff leads to more work tending to that stuff with cleaning, dusting, and just staying organized. I feel having less is really more as I get more of my time back. When I watch shows about minimalism, cleaning, and/or hoarding, it helps me to really think before I bring something into my home. Is it going to be worth the extra effort to find a place for it, tend to it, and/or just keep it clean? Before and during no-spend challenges, I will focus on minimalism and cleaning videos and shows to help curb my desire to shop.
Here are some of my favorite YouTube channels or Podcasts on minimalism and cleaning. Let us know if you have any others you recommend.
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Dawn from The Minimal Mom shares her journey and experiences with becoming minimalist with her family of 6. She has lots of tips and tricks along with sharing what she loves and regrets about her journey to becoming a minimalist family.
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Cassandra or Cas from the Clutterbug and host of HGTV-Hot Mess House offers organizing advice along with a fun Clutterbug Quiz to help you know what kind of organization fits you best. How many times do we buy organizers and take the time to organize only to revert to our old ways? I’m a LadyBug. What type of Clutterbug are you?
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Melissa from Clean My Space offers a lot of great cleaning advice on things she’s learned from owning and operating her own cleaning business.
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Kallie created But First, Coffee to share the lessons she learned to be more productive, keep a cleaner home with less time, and live a more frugal life.
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Gabe Bult offers tips on what he’s learned with minimalism, being more financially sound, and more productive.
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Joshua Baker writes all about minimalism and has a YouTube channel full of videos helping people let go of their excess stuff.
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The Minimalists are Emmy-nominated Netflix stars and New York Times–bestselling authors helping people live meaningful lives with less.
The Minimalist Podcast contains full-length episodes of minimalist living.
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Project 333 is A minimalist fashion challenge to create a capsule wardrobe by dressing with 33 items or less for 3 months.
#7 - Track your savings! (Most important tip!)- It can be hard to stay motivated if you don’t know if your process is working. Be sure to track your progress as this will allow you to make any necessary changes so you can get the most out of your no-spend challenge.
ClearCheckbook is an online money management tool that we have used for years. I like it because it doesn’t require you to link or input any account information, and it works great for tracking expenses and savings.
30-Day NO-Spend Challenges Worksheets
I have tried a monthly no-spend challenge many times before only to mess up by purchasing something, and then feel I failed and quit. Use these 30-day no-spend challenge worksheets instead. The goal is to hit 30 days as quickly as possible, but if you mess up, you don’t have to feel like you failed. Just pick it up the next day to continue to your goal of 30 days of no spending and be sure to track your savings progress!
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