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How to Have a Successful No Spend Month? How Does a No Spend Month Work?!?

If you’re looking to save money in a short amount of time, a no spend month might be the way to go.

Most people are familiar with how these challenges work: For one month or 30 days you agree to ONLY spend money on necessities. This means no needless shopping for clothes, household items, eating out, entertainment, etc. These purchases prevent a lot of people from saving as much as they can. So if you eliminate these expenses, you should be able to jumpstart your savings.

A no spend month can also shed light on bad money habits (the amount you’re able to save might be far more than expected).

However, planning a no-spend month and having a successful month are two completely different things. Before starting, here are a few tips to ensure the most successful month ever.

1. Timing is everything

If you’re not good at saving money, getting through a no spend month can be especially challenging. You might be used to spending money without restrictions. For this reason, it’s important to recognize obstacles that can interfere with having a good month.

Before starting, grab a calendar and look at the next 30 days in advance. Will any of your advanced plans make it harder to only spend money on necessities for a month? Maybe you have family coming into town or you’re taking time off from work and planning a few activities.

If you plan a challenge during these times you’re not likely to follow through. Therefore, choose a month when you don’t have a lot of action. 

2. Make your plans known

I believe in moving in silence – everyone doesn’t need to know your business. Sometimes, the less people know the better.

However, hitting a goal often requires holding ourselves accountable, and some people struggle with this. They need someone to motivate and check in with them. If this sounds like you, telling someone you trust about your plans might help you get to the finish line.

Of course, you have to choose the right person. This should be someone with similar financial goals, or perhaps someone who’s good with saving money. 

3. Create a few spending obstacles

The beginning of a no spend month might go well…and then you feel the urge to spend money halfway through the month. Mentally prepare for this possibility and create a few spending obstacles. For example:

• Remove saved credit card numbers to avoid shopping online
• Freeze your credit card to temporarily prevent spending
• Only keep money for expenses in your checking account
• Leave your credit and debit cards at home (and only bring the cash you need)

4. Don’t skimp on “fun”

A no spend month doesn’t imply sitting at home bored for 30 days. You can have fun, and I encourage this because boredom is a spending trigger. If you keep your mind occupied, you’re less likely to think about stuff.

The key is choosing entertainment and recreation that doesn’t cost anything. One thing I’ve learned over the pandemic is that you don’t have to spend money to have a good time. 

When going to the movies, eating out, bowling, and other activities wasn’t an option, we got creative. We started hiking, crafts, and taking photos to bypass the time…and it was enjoyable. Even though we’re able to move more freely, I still make time for these activities. 

Before beginning a no spend month, think about fun (free) ways to entertain yourself. This way, it doesn’t feel as if you’re missing out on a good time.

5. Don’t allow treats (if it involves money)

I always say NOT to deprive yourself long-term because this can backfire. For 30 days, though, I think it’s okay to deny yourself. Therefore, I discourage splurging on a no spend month (even small ones) because these purchases can potentially set you back.

It takes time to get into a savings routine and to learn impulse control. For some people, enjoying a treat too soon might be all it takes to blow the challenge and revert to old habits.

6. Don’t use mistakes as an excuse to give up

The reality is, you might have a setback. And if so, you might throw your hands in the air and think, “oh well, I tried.”

This ISN’T the way to handle a mistake.

Instead, restart the clock for another 30 days. And if you fall off again, that’s okay too. Restart the clock again. Hopefully with each reset you’ll get farther along in the challenge and eventually make it an entire 30 days.

7.  Meal prep

When I think back to my money saving challenges, food was my downfall. Or more specifically, restaurant meals and fast food.

I’d go to the store and buy items to cook, but then order out because I was too tired to prepare a meal. So I suggest meal prepping at the beginning of each week – maybe plan crock pot meals and then separate the food into freezer bags. On days that you don’t feel like cooking, reheat a meal and avoid ordering takeout.