I’m a big sugar addict, but I’ve realized that eating a sugary treat every day is definitely not healthy for me. It’s also a waste of money and probably killing my teeth. I’m also attempting to spend no money on clothing because we have no room in the RV! Plus, I don’t need to buy any and I’m saving time as well because I’m not looking for clothing.
I believe that by taking part in these two no spend challenges that I can change the way I think about spending money in these areas, be a little more healthy, have a little less clutter, and save some time.
I believe that taking part in no spend challenges can help others as well.
Below are some of the many great reasons to take part in a no spend challenge.
A no spend challenge can be whatever you want it to be.
In case you are wondering, a no spend challenge is when you challenge yourself to stop spending money (pretty easy to understand, right?).
There is no right or wrong way to take part in a no spend challenge. You can completely say no to spending altogether or you can just limit yourself in the areas in which you do not do so well.
You can do a challenge that is for:
No clothing shopping;
No food shopping;
No coffee spending;
No fuel shopping;
No shopping with a credit card;
No eating out;
No Target shopping; and so on!
Some do challenges for a week, a month, a year, and so on. Whatever you think will fit you best!
Some believe that no spend challenges will just cause you to spend the same amount of money once the challenge is over. I disagree with that for the most part and you can read more about why below.
No spend challenges can prevent impulse spending.
We’ve all gone to Target and spent way more money than we originally planned. Going into a store and only needing one item yet coming out with 10 other things is even a norm for some.
By taking part in a no spend challenge, you can prevent yourself from cluttering your life with items you do not need.
I think this is one of the great reasons for why no spend challenges work. By not allowing yourself to go shopping, you are preventing yourself from impulse shopping due to the fact that you will be forcing yourself to think longer about the items you want to buy.
You can find use in the items you already have.
If you are like me, you probably have tons of food in your pantry and freezer that you are not eating. Plus, you may have clothing in your closet that you haven’t taken out of there in forever. This can be applied to many other items in a person’s life as well.
By taking part in a no spend challenge, you may find use for the items you already have instead of letting them spoil or completely forgetting about them. You will also realize what items you probably shouldn’t buy anymore because they are a waste of money.
Related: How To Live On One Income
A no spend challenge can help a person be more motivated.
A good challenge can help anyone and everyone become more motivated. By challenging yourself, you can push yourself and make it more of a game so that you can save more money.
It can make you aware of your spending problems.
Challenging yourself and analyzing your spending can help you be more aware of where your money is going.
You will see how many times each month you almost spent money and think about the ways you can improve your spending behaviors.
It can help you declutter and prevent waste.
By taking part in a no spend challenge, you are still able to buy certain things depending on what type of challenge you are doing, but, for the most part, you are trying to use up the things you already have. This can help you declutter, clear out your pantry, and more.
I’ve done a no spend challenge for pantry and freezer items before and it really helped me save money on food and to also clear out things that were about to go bad.
It doesn’t have to be hard.
There are many ways to take part in a no spend challenge and still have a great time.
Below are some examples:
Look for free days. There are many days where businesses will offer items for free. There’s National Coffee Day, Donut Day, Ice Cream Day, and more.
Look for coupons for free stuff. Similar to the above, you may be able to find free treats, free movie rentals, and more.
Play board games with friends and/or family.
Finally complete a DIY project that you’ve been pushing off.
Have a potluck.
Get your friends to join in so that it is more competitive (plus, everyone can help each other out!).
Visit your local library. The libraries in Colorado are even giving away free state park passes! You can also borrow movies, books, read your favorite magazine, and more.
Go to free events around your town.
Go to a national park when they are free (there are a few days each year when they’re free!).
Take part in mystery shopping so that you can get items and meals for free.
Explore your town and the outdoors.
Related: How To Have Frugal Fun
Have you ever taken part in a no spend challenge? Why or why not? Do you believe they work?