No spend challenge: Rules, Tips and what I learned
You probably seen such no spend challenges being taken-up in Instagram. Some people decide to go total bonkers and Instagram being the perfect place to show off those shoes, showing off the amount can even motivate you (and others!) to save more.
C’mon, showing off isn’t necessarily a bad thing… if you show off how much money you saved and how you’re going through your #debtfreegoals and #financialfreedom , you find more people like you! That just encourages you more!
How this concept came into being
The best concept of a no spend month can be seen during the World Wars. In America, as able-bodies men and animals were being supplied to the wars, agriculture slowed down.
New manpower was required to sew uniforms and build ammunition — and basically, that’s how women started working, and that’s how the skirt came into being.
With all the machinations, poor industry standards and minimum wages, people had to start being creative. They had to make the best out of waste. They had to learn how to become frugal and save as much money as possible. The government encouraged these behaviours, and they started “Meatless Mondays” and “Wheatless Wednesdays” campaigns.
Examples during Depression
To cut out consumption of goods and supply as much help as they could to the army, the Government put up posters and educated people on how they could help America and maintain that unity and pride about them. The first step was to bring awareness about unity in tough times.
There are so many other great examples, small or big, that the US government brought the whole nation together. Now, this post is not about how great they were, but it just pays to tell you that all the bits (citizens) and pennies (small repetitive expenses) count up.
No spend usually means
Now, contrary to popular belief, a “no-spend challenge” does NOT mean literally not spending a single penny. I’d like to think of a spending freeze challenge as “purge challenge”. Or pantry challenge.
Remember: bills such as rent, electricity, loan payments DO NOT COUNT under the no spend challenge.
Now, I wouldn’t say I have been disciplined enough to go through the whole month and spending as less as possible, but I do something quite similar.
Let me explain.
The 10th of every month is payday (yay), so, in the beginning of each month, I use only the things which I have in my home. It usually means purging or consuming all the eatables first, because they are perishable items. So these 10 days, I avoid buying milk (it’s essential, but I want to finish all the things) as much as I can and make food at home only.
What challenges come in way
The worst barrier on your way to a zero spend month is money itself.
Money is such a taboo in the society that you feel so ashamed to talk it out loud. Your friend’s birthday is around the corner, and you forgot about it UNTIL last night, so you gotta buy a gift for her….
OR you had a really really bad day at work and just want a drink and doze off…
And the lack of motivation itself is a major mood-killer. If you think you would fail anyways, then you’ll never be able to get ahead.
How to fix them
If you want to fix problems, you need to cut those problem-causing elements right at the source.
And as you go through a no spend challenge, you will see that the best way is to communicate openly. Talk to your family members or your close ones about this challenge, and how they can help you complete it,.
No spend challenge rules
Have a support system open. Tell your partner or best friend about this challenge and ask them for emotional and psychological help as you walk down this road.
It is extremely necessary to be shamelessly upfront about why you started this in the first place. Whenever you feel like giving up, or whenever you see a great sale coming up, ask yourself these questions:
