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7 Things you will Learn from a No-Spend Month

Posted by Kristin Perissinotto on Jan 29, 2019 5:14:00 PM
Kristin Perissinotto
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We have been talking all month about no-spend January (or any month!), or challenging yourself to a no-spend day each week. We are wrapping up the month with seven lessons you will learn after cutting unnecessary spending for one month.

saving no spend credit card

 

  1. You need less than you think. The idea of not buying anything you don’t absolutely need can be daunting, but after completing a no-spend month, your understanding of what you need and what you want are vastly different.
  2. Planning is crucial. Most people who have tried and failed a no-spend month will tell you they didn’t plan enough. It is absolutely necessary to put a detailed plan in place before embarking upon a no-spend month. You won’t be successful if you haven’t worked out details like the difference between a need and a want.
  3. You can have fun for free. You will have discovered how many free activities are available in your area, and what kinds of things you can get up to on the weekends without reaching for your wallet.
  4. Eating simply saves money. Making simple meals at home that don’t involve odd spices or specialty rice can save you a lot of cash. Chances are, you will find they are plenty tasty as well!
  5. Staying at home will make it easier. It will be tough to avoid spending on unnecessary things when you are out and about. Sometimes staying at home for the weekend will be the best and easiest way to stick to your challenge.
  6. Saving can be rewarding. Although there will probably be times in the month that you feel like your day could be improved by a new pair of shoes, or treating yourself to lunch out, you will find that, by the end of the month, you will be immensely satisfied with yourself for building your savings.
  7. You can do anything! This one is a little cheesy, but it is important to feel proud of yourself after completing a no-spend month. In a world filled with advertising and countless products to buy, making it through a month without caving to it is quite an achievement!

Tags: Affordable Living, Personal Finance Basics, Build Savings

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