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Feeling overwhelmed by budgeting? Try joining the no-spend challenge. It’s a great way to simplify your monthly transaction review and find creative ways to accomplish tasks without spending money. As an added bonus, you’ll strengthen your money-saving habits and grow your actual savings.
But there are so many temptations it can be hard to stick to a no-spend challenge. I’ve been guilty of losing this challenge within just a few days on sweet treats. Still, there are ways to survive and thrive.
Our article’s tips are common, inexpensive, and easy to use, so they apply to almost everyone. Here are 18 tips to survive and thrive in the no-spend challenge.
Analyze Your Spending
Before you start setting up a no-spend challenge, analyze your spending. It doesn’t hurt to look through your bank statements and see what you spend money on.
It’s difficult to set up a no-spend challenge if you don’t know what you’re spending money on. I’m a pen-and-paper kind of gal, so I prefer writing out all my hidden expenses. Once you know, you can make changes.
Create Multiple Short-Term Goals
While setting up your no-spend challenge, define short and long-term goals. For instance, let’s say you want to spend nothing for 30 days. This is a long-term goal.
Many people prefer short-term goals. It makes time go by faster and can motivate you to finish the 30 days strong!
Thrive on the Reward System
The previous tip and this one are connected. Your short-term goals should end with a reward. Everyone is different. This can be your favorite candy (purchased before the no-spend challenge begins) or a movie day.
I like to reward myself with experiences. If I complete 10 days of no spending, I’ll go to my favorite beach or springs for a day. You can get creative with your rewards.
Join the Challenge with Friends
Sometimes, all you need is another person by your side to succeed. It’s hard to hold yourself accountable.
Another great tip for surviving and thriving in the no-spend challenge is to do so with friends. You can get creative together and find things to do that cost nothing.
Freeze Your Cards
If you are serious about this challenge, you can freeze your debit and credit cards for the duration. Even if you’re tempted to spend, you can’t without having to call or log in to your bank account.
These extra steps get annoying fast. This only works if you pay all your bills in advance using your cards.
Bulk Up
Right before starting your challenge, you may want to bulk up on snacks and miscellaneous items. These items can work as rewards during the challenge.
To save more money, set a budget for your pre-challenge purchases.
Take Daily Walks
Exercise goes a long way. Sometimes, all you need is a nice walk during the day to reset your mind. If you’re feeling tempted to buy something, take a walk.
Walking can also generate you money. Plenty of apps count your steps and give you money for hitting goals.
Use Budgeting Apps
You don’t have to do everything by yourself or with a pen and paper. Apps are also helpful. Many track your spending and divide purchases by categories.
This tip can help you analyze your spending and create goals. You’ll be surprised to see just how much you spend on junk each month or even week.
Color In No-Spend Sheets
Do you like coloring? I do. When I complete no-spend challenges, I like printing out coloring sheets.
There are many coloring sheets available online for free. Each day you complete, you color in the designated section. This is perfect for visual learners.
Window Shop
Window shopping is not for the faint of heart. As someone who struggles with overspending, I try to avoid window shopping. But it can help if you just want to feel the thrill of shopping, without swiping your card.
While window shopping, you can try on clothes and keep them in shopping carts or baskets. Take your time walking through the store, and in the end, put everything away.
Avoid Your Favorite Stores
This is the opposite tip, but it works for people like me. If window shopping is too tempting, avoid shops during the challenge.
Instead, spend time outside or plan outings away from shopping plazas and malls.
Understand Why You Spend
It takes a while to unlearn over-spending. Before even starting the challenge, it’s important to know why you spend.
Is it because of boredom or a need to fit in? Once you know, you can work to overcome the reasons.
Start a New, But Cheap Hobby
Often, boredom is a big reason people spend. I’ve bought way too many unnecessary items when bored.
If you can, start a new but affordable hobby. This can be coloring, drawing, language learning, or air-dry clay sculpting.
Plan Meals and Get Creative
A lot of people fail the no-spend challenge because of eating out. It’s so much easier to order food than to cook and clean up.
To make this easier, get creative in the kitchen. You can even plan out your meals in advance. Your meals don’t have to be fancy. Spaghetti is delicious, cheap, and filling.
Cut Up Coupons
During your no-spend challenge, you can plan ahead by cutting coupons. Couponing is a hobby and an interesting way to save money. Finding the right coupons feels like shopping.
It’s tedious and takes time and a good eye. Pour yourself into this, so once the challenge is done, you’ll have money-saving coupons ready.
Turn Away From Coffee Shops
I used to spend an embarrassing amount of money at coffee shops. The coffee is so tempting, inviting, and warm. Most of the time though, it’s overpriced.
Avoid coffee shops and instead make coffee at home. According to a Statista study, nearly 15% of respondents reported spending $40 or more at coffee shops a month. This adds up quickly.
Attend Free Events
No-spend challenges aren’t supposed to be boring. You don’t have to spend all your time at home trying to beat the challenge.
Look for free events so you won’t get bored and feel tempted to spend. If the events are festivals with vendors, leave your money at home.
Daydream About What You’ll Do With the Extra Saved Money
This last tip is my favorite. When doing no-spend challenges, what helps is to imagine completing your goal. What will you do with the extra funds each week or month?
Are you looking to put it towards debt? Daydream about a debt-free life. Do you want to go on vacation? Imagine the places you want to go. It’s a good thing our imagination is free.
15 Smart Tips for Living Well on a Strict Budget
In today’s economy, strict budgeting has become a reality for many, sometimes involuntarily. With fast fashion and rapidly changing trends, temptations are on the rise. Mastering a budgeting mindset can empower a person to manage their finances responsibly. It’s a step towards achieving self-fulfillment while leaving room for some fun.
An Aldi Insider Reveals 15 Freezer Must-Haves for Solo Shoppers
If you’re a bargain shopper, Aldi is likely on your list of go-to places to buy groceries. Frugal shoppers everywhere love the deals they find at Aldis.
For a solo Aldi shopper, perusing the frozen section involves grabbing fundamental essentials. The ease of Fusia Asian Inspirations shrimp-and-avocado rolls and Kirkwood chicken makes them go-to meal options. Indulging in dessert, they prefer the Sundae Shoppe keto ice cream in peanut butter-fudge flavor.
One Aldi employee offers insights and valuable recommendations on the top 15 frozen section items to enhance the shopping experience. If you’re a regular Aldi shopper, you will love the finds on this list. If you’re not, perhaps this list will change your mind.
The 41 Biggest Wastes of Money
If you’re looking for ways to earn more money to put toward your goals, start by examining your spending habits. By tracking your spending and seeing where every dollar goes, you’ll likely find several instances of spending money you don’t have to. It could be little things that add up or recurring monthly expenses that are an utter waste of money.
Once you eliminate your bad spending habits, that money can go toward your emergency fund, paying off debt, or other essential things. Here are the 41 biggest wastes of money to look out for.
- Read More: The 41 Biggest Wastes of Money
