I’ve always been a fan of no spend days. In fact, this blog has its roots in a No Spend Challenge back in 2011. For me, there’s something quite satisfying about knowing I haven’t spent a single dime extra in a given day.
Notice in that sentence how I typed the word ‘extra?’ That’s because I am a firm believer that no spend days and no spend challenges need to be about the extra, miscellaneous purchases that can wreak havoc on our budget–they’re not about the fixed expenses we must pay such as mortgage and rent payments, utilities, debt payments, etc.
How Does a No Spend Day Work?
For me, a no spend day means that I haven’t mindlessly thrown my money away. That means no meals out, no frivolous purchases of tea (not a coffee drinker–have actually never had it!), gum, magazines or any other small impulse purchase that’s easy to rationalize when it’s just a few dollars. It also means that I’m not shopping for clothes, spending money on entertainment or even filling my gas tank.
Isn’t That Cheating?
The argument with no spend days is that if you don’t spend the money one day on something you need (case in point, filling the gas tank), won’t you just spend it the next?
It’s true that in the case of the gas tank, I’d absolutely be filling it eventually. But the point of a no spend day is to get your miscellaneous spending under control AND to become more aware of your spending habits. By forcing yourself to not spend a single dime on a given day, you’re inherently learning more about yourself and your financial habits.
Benefits of a No Spend Day or No Spend Challenge
In addition to learning more about your spending habits, a no spend day can help you identify the leaks in your budget–those pesky nuances that, left undetected or changed, can send the best of intentions and budgets spiraling out of control.
By becoming more aware of your habits, you can seek alternatives that cost less. You can also develop strategies to help overcome impulse shopping and mindless spending. Remember, free costs you nothing but time and energy–something that is free usually has a positive impact on your budget!
Giveaway Time–Free Money!
I’m excited to be taking part in another giveaway–for even MORE cash! Enter now for your chance to win $100. And if you haven’t already entered, don’t forget about my other giveaway for $25.
What do you think about No Spend Days?
Jen Smialek
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I love no spend days! I try to have a few every week. Then I'm not tempted by clearances and "deals" that I don't need but might want when I'm in a store.
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Exactly! I find that when I enter the day with a "no spend" mentality, it's much easier to ward off temptation
I'm not sure I get no spend days. I have plenty of days that I don't spend money and it's not something I'm trying for necessarily. M-F I go to work, gym and come home. I don't spend money because I'm at work and then the gym. The most I spend during the week is maybe $1.25 coffee once or twice per week and if I have to get gas.
My recent post Luxury Cinema Date Night
That's great!!! I think the concept is best applied for those who have a spending impulse or those trying to figure out where their money goes.
I like them because it gives me a great mindset for the day and it's motivating to record a $0.00 at the end of the day in my spreadsheet
I've done a few no-spend days, but funny enough, not intentionally. DH and I have an allowance each week, and outside of that, try not to use our debit cards. It's a nice feeling to get to the end of the week and still have my crisp, unbroken $20.
Having an allowance for 'frivolous' things made me more aware of where I spend my money too, in many of the same ways a no-spend challenge does!
My recent post Eeek!
I love it! I've written about the concept of a n adult allowance, and I agree with you–this is a great strategy/motivator!
I like your definition! The traditional definition never made any sense to me. I lose, if my rent gets deposited on a certain day? PISH POSH.
My recent post Save now, spend later (plus $100 giveaway)
Hahaha…amen!
I have a lot of no spend days, problem is my wife never has a no spend day! But we do tend to balance each other out which is nice. Happy to co-host this with ya!
My recent post Tips To NOT Overspend in 2013 + a $100 Cash Giveaway
Haha…that's great about the balance though! And yes, happy to co-host. Looking forward to more in the future!
I use the no spend days as a way to reevaluate my purchase decisions. I do go shopping on no spend days, but since I am not spending anything that day, I will go back home and think about the things that I wanted to buy. I will see if they fill any needs and get to sleep on it for a night or two. This helps me differentiate between the wants and needs.
My recent post No Spending Challenge Giveaway
This is a great idea!!! I'll have to try this when shopping for my office reno
I count any day I spend money that's not a bill when I do a no spend month or day or whatever… because it will often force me to make meals from what I have in the house & it keeps me out of stores that would tempt me with other items…
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Yes! I'm the same way, and I like the challenge of avoiding temptation
I save the most when I am super busy and don't have time to go anywhere or do anything!!!
Hahaha…I know that feeling!
I have never purposely tried to do no spend days, but I really don't spend a lot of days anyway. Recently I have been on a cash only diet and that makes me really evaluate all my purposes. I see that is similar to the no spend days concept. Yes, I might buy whatever I was planning to buy some other day, but most of the time, postponing alone is enough to curb any impulse expending and also gives me time to think if I really need an item.
I agree–I usually try to shop without buying then decide what's actually worth going back for. Taking this approach has saved me hundreds!
I don't do no spend days on purpose. But sometimes I do have days when I do not spend a penny. Feels good then! This year I am on a no shopping challenge, self-imposed. We will see how it goes.
Wow, good for you! Good luck and I'll be interested in seeing how it goes–I don't think I could do it unless I absolutely had to
I think it is a good way for us to try containing those impulse buys…as long as you commit to not spending money it is easier to keep away from those online sites that seem to call my name at times….also coming up with ways to entertain without spending money has made me more creative.
Yes! Impulse buys are the worst! So easy to lose track of.
I have never really formalized it like this but I like the idea. There are days when I don't spend any money but there are other days where I could be more careful. I have been working at more concious spending and I have been improving.
My recent post Friday Links – Still Swamped Edition
That's great that you're making improvements…keep it up!
I think a no spend day would really make me consider what I need.
My recent post Giveaway – Give Him Some Giveaway – food gifts for the man in your life
Exactly! It's a built-in reminder to carefully analyze your purchases before you make them