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INTRODUCTION
Saving money doesn’t have to be stressful, and a no-spend month can be a great way to jumpstart your financial goals. It can help you save money for an emergency fund, cut spending, or develop a saving habit. Not only can a no-spend month save you money, but it can teach you a lot about your own spending habits. Last November, I took on the challenge of a no-spend month to save $1,000 for a trip the following year. While it wasn’t perfect, it taught me valuable lessons and helped me align my spending with my goals. Here’s what I learned and my top tips for anyone considering a no-spend month.
MY NO-SPEND MONTH EXPERIENCE
A no-spend month can be a powerful tool to save money quickly. When I decided to try a no-spend month in November, my goal was simple but ambitious: save $1,000 for a trip the following year. I teamed up with my partner, who became my accountability buddy. Then, we talked about the rules for the no-spend month, like what counted and what didn’t.
I decided to cut out eating out, spending some of my“guilt-free” time on coffee, and shopping online (especially on Amazon). And, to ensure money wasn’t accidentally spent, any savings went to our sinking fund for travel. Any saved money went straight into a high-yield savings account, where I could see my balance grow. I even got a little bonus: a refund that we happily added to our travel fund.
Of course, life threw a curveball when I had to replace my car tires—an unavoidable expense that could have derailed my progress. However, I avoided using credit cards because I had already saved money during the challenge.
This experience taught me that a no-spend month isn’t about spending nothing—it’s about being intentional, aligning your spending with your goals, and finding ways to make progress, even if perfection isn’t possible. Ultimately, I didn’t reach the $1000, but I got closer to the goal because of this experience. Plus, doing it right before December helped curb my holiday spending urges. It was a challenge not to overspend once the month ended—I wanted to splurge on coffee and meals.
RECAP
The Goal: Save $1,000 for a future trip.
The Plan: Avoid unnecessary spending (clothes, eating out, coffee) and cut back on “guilt-free” spending.
Challenges: Needed to get new tires for the car.
Result: Successfully avoided credit card debt for car tires. Used a surprise refund added to our travel fund.
Based on my experiences with the no-spend month, I would recommend it. Here are some lessons and tips I'd like to share for your own no-spend month.
TOP 10 LESSONS FROM MY NO-SPEND MONTH
1. It’s Not About Spending on “Nothing”
Unexpected expenses will happen, like my car tire replacement. The key is to handle them without guilt or using credit cards. Prioritizing savings during the no-spend month helped me keep enough cash to cover expenses like tires without using credit cards.
2. Accountability Matters
Talking to my partner and making him my accountability buddy kept me motivated and less tempted to cheat. Also, moving money that we saved to another account helped me visualize my results and make it less likely I would spend that money.
3. Planning Makes All The Difference
You have to plan out your no-spend month. Set rules ahead of time on what you will not spend money on. Then, plan how to avoid your spending triggers or temptations. Instead of eating out, meal plan and stick to a shopping list. Make coffee and bring it to work. Curate your closet to put together new outfits instead of buying new clothes, and stock up on essentials beforehand to avoid impulse purchases during the challenge.
4. Focus On Saving Intentionally
Spending money on new tires during the no-spend month was a setback, but at least we didn’t have to rely on credit cards. The refund we received later became bonus money for our trip. The no-spend month helped me become more intentional with cash, which worked for me and my goals.
5. High-Yield Savings Accounts Are Awesome
Seeing my savings grow in a high-yield account gave me tangible proof of my progress. Watching the balance increase inspired me to keep saving beyond the challenge. A high-yield saving account just means it earns more interest on money in the account. For example, lets say you have $1000 in a high-yield saving account with 3.5% interest, but your friend has $1000 in an regular account with 0.01% interest. Your high-yield account grows to $1,035.00, earning $35.00 in interest. Your friend's money grows to $1,000.10, earning just 10 cents in interest. You would make an extra $35 in one year with your money just sitting in a high-yield saving account.
I have a high-yield saving account at Amex which has no minimum or fees, and is FDIC insured, but there are several banks that have great low/no fee, no minimum, FDIC ensured accounts.
6. A Spending Reset Is Refreshing
Curbing November spending helped me avoid overspending before the holidays. It was a great way to realign my budget before the busy gift-buying season. Plus, it gives more insight into spending triggers and helped me spend more intentionally.
7. Impulse Spending Can Creep Back
After the challenge, it was hard not to overspend on small things like coffee. After limiting myself for a month in November, I wanted to spend on those things in December especially for Christmas gifts. Setting clear post-challenge boundaries can help maintain the progress made during the month.
8. Align Spending With Goals
The experience made me reflect on what matters, like prioritizing my trip over eating out. This exercise also revealed that we needed to save more for car repairs. After this experience, we decided to add more to our car and emergency fund savings so that if we do a no-spend month again, we won’t have to worry about car expenses draining our savings.
9. Saving and Spending Intentionally Are A Mindset Shift
A no-spend month teaches you to value what you have and think critically about every dollar. It forces you to consider your spending triggers, your current savings, and how to save and spend more intentionally. It is easy to spend money when you can just click a button or use a credit card. However, because of the no-spend month, I learned to take a pause with my purchase so I could spend money to align with my goals.
10. Celebrate The Wins
Even though I didn’t hit the $1000 saving goal in a month, saving more money was a definite win. Also a win: being able to cover for new tires without using credit card debt! Every dollar saved brings you closer to your goals. Take time to acknowledge the effort you put in.
10 TIPS FOR A SUCCESSFUL NO-SPEND MONTH
Overall, I am glad I took the no-spend month challenge and will likely do it at least once a year. This saving challenge helped me clarify my priorities and spending triggers, identify areas where we needed to save more and show me how to increase my overall savings. Here are some tips from my experience with the no-spend month to help you become successful.
1. Be Prepared For The Month Before Starting
Stock up on essentials and plan for upcoming expenses like rent, gas, and groceries. Creating a budget or spending plan is a great way to ensure your income pays for your expenses ahead of the month. Apps like Simplifi can help you track your spending and plan for your expenses during the no-spend month. By preparing for things you need, you will have a better chance of saving money during your no-spend month.
2. Make A Plan For Spending
Plan out what you want to spend money on. Essentials include having a safe place to live, getting to and from work, and having nourishing meals and clothes. However, don’t pause your monthly savings or investment contributions. Treat these as non-negotiable expenses. Also, consider “spending rules” for the no-spend month. For example,
- Wait 24 hours before purchasing something you didn't already plan for.
- Avoid using your credit card for the no-spend month.
- Set out what you are going to avoid spending money on: Eating out, impulse buying, clothes, etc.
- Don't go grocery shopping when hungry.
- Pay for everything in cash for the month that you set aside in the beginning of the month.
- Avoid online shopping.
3. Find Easy Cuts To Your Budget
With the no-spend month, you can choose to “not spend” money by cutting expenses. Look for quick wins to maximize savings during this challenge. Here are some options to consider:
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- Cut subscriptions. Try apps like Rocket Money to help save money on subscriptions.
- Trim allowances.
- Save your change.
- Use coupons. Try Ibotta to help you save money on groceries.
- Try using cash back site to save money like Rakuten, Capital One Shopping, or Honey.
4. Have A Plan For The Money You Save
Decide where your saved money will go, such as to a travel fund, a wedding fund, or pay off credit card debt. Knowing the purpose keeps you motivated to save money. Once you know why you are doing the no-spend month, take the savings and move it to a sinking fund for that goal like your wedding fund. This way, the savings won't get spent accidentally.
5. Track Spending
Record every dollar spent during the challenge to stay accountable and identify patterns. Tracking your spending can also help you adjust for future challenges. I use Simplifi to help me track my spending and identify areas to cut to save more money. Budget apps are great to track spending, track your net worth, and save more money. Find an app that works for you.
6. Pause Your Challenge For Emergencies
You can handle unexpected expenses like car repairs guilt-free. Take care of the immediate needs you have. Although it feels like a setback, you know you can save money with no-spend month and it is a blessing to cover for emergencies if they arise. The goal isn’t to avoid all spending—it’s to be intentional and prioritize.
7. Plan Your Meals
Meal planning helps avoid last-minute takeout temptations and keeps grocery trips focused. It’s also a great way to use pantry items and reduce food waste. Programs like the $5 Meal Plan can help you save money with easy-to-use grocery lists and meal plans to save more money.
8. Make Your Coffee
Small sacrifices can add up quickly. Invest in a quality coffee maker or learn to make your favorite drinks at home. You can also use sites like Swagbucks to earn gift cards for Starbucks.
9. Avoid Temptations
Avoid Amazon, social media, and any triggers that lead to impulse buying. Setting app limits or deleting shopping apps can help.
10. Avoid Binge Spending After The Challenge
After the month, ease into regular spending to avoid undoing your progress. Create a plan to transition back into a balanced budget. Keep planning out your purchase for the month so that you don't drain all the savings progress you just made.
CONCLUSION
A no-spend month can be an incredible tool for saving money, shifting your spending mindset, and aligning your financial habits with your goals. While it’s not always easy, the savings make it worth it. Doing a no-spend month helped me save money and exposed ways I can improve my budget. A no-spend month can be transformative for you too, and I hope these lessons and tips support you. No matter your saving goal, whether saving for a wedding, a dream vacation, or building wealth beyond the wedding; a no-spend month could you need to save more money.
Are you ready to try a no-spend month?
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