I did my first ever no spend month in January of this year. It was right after the holidays and I felt like I bled money the whole month of December, and I needed to regroup.
So I restricted my spending for the entire month of January and was happy at the amount of money I saved.
February came, and low and behold, I noticed the same spending habits coming back to life:
- random trips to Target resulting in over $100 worth of “stuff”
- Amazon visiting my house every day
- Me being on a first name basis with my Fed Ex guy
- Books on top of books from Barnes and Noble and Amazon…
- Target online…
Need I say more? The goal of my no spend month is to cut out all of this frivolous spending. I’m grown, spending like I don’t have sense doesn’t make sense. Especially since I have savings goals that we need to hit this year.
So I decided to put myself back on a no spend month and this month, and really take the time to appreciate that I DON’T NEED ALL THE THINGS. I personally won’t be spending money on anything that isn’t necessary. What can I spend money on?
Necessities: groceries, personal hygiene, my eyebrows, bills, any payments that help me run this blog efficiently, anything that the house NEEDS, Pookah needs, and emergencies.
No books unless they come from the library, no shopping for clothes ( the exception being a few things I will need for a trip to Orlando late in March), no random coffee runs, no browsing on Amazon, and no visits to Target unless I can’t get it anywhere else.
Want to join me? Here are the rules.
- No spending outside of bills and necessities.
- Necessities mean things like: groceries, toothpaste, new underwear if they have holes in them etc.
- Non-necessities: a new pair of jeans because they are on sale, that cute t shirt I saw on Instagram or that thing on Amazon your friend told you to get.
- Necessities: Any automatic bills that already come out of my account that are business related or bill related.
- Non Necessities: those shoes I saw on clearance.
3 Tips to help you succeed:
- Know how much money goes in and out of your household on a regular month. How much do you spend on groceries, gas, household utilities? Plan for it so that you know HOW much you will HAVE to spend so that you know how much you have the potential to save.
- Write down what you CAN’T live without. Everyone has that ONE thing that they must have. Maybe it’s date night for you and your significant other. Maybe its that once a week specialty coffee, maybe it’s a massage once a month. You can be specific: swear off eating out or that Starbucks run or shopping on Amazon. Just have a plan on what you will and won’t spend money on.
- Have a plan for the money that you will save. That could be a trip you want to take, a savings goal, or a dream you want to make a reality. Post notes to your self everywhere reminding you of your goal. I personally have a little note in my wallet that says: Do you NEED this? And a photo of the vacation I’m planning with all the money I’m going to save by doing no spend months throughout the year.
So that’s it. I’m going into this month focused because I have goals this year. GOALS.
So..who is going to join me?