If you’re not ready to commit to a whole month, then why not try easing into your savings goal with a simple no spend week instead.
Some people find the idea of quitting spending for a month daunting, but anyone can do a no spend week. It can be a good way of getting a feel for how a bigger challenge, such as not spending for a month or even a year will impact your life.
Quitting spending for a week follows the same rules as the no spend month challenge.
Essentials are in. That includes rent/mortgage, groceries, and bills.
The rest. All of your discretionary spending is out.
So no fancy cafe coffee, no impulse purchases, drinks with your Tinder date will have to wait until next week, and so on. Basically, you need to padlock that purse up and commit to becoming the boss girl of your finances.
Here are 5 Tips for Smashing out a No Spend Week
Eat from your fridge/freezer first.
While groceries are allowed, challenging yourself to use up all of those meals that you squirreled away in your freezer that one time you got super motivated and meal prepped, is a great way to kickstart the week. You’ll even have fun figuring out which meat you used in the super healthy tomato stew dish you just defrosted.
Same goes for the veggie crisper. Throw all those wilted carrots into the crockpot with some stock, herbs, and chicken. Delicious and practically free.
No spend weeks are seriously excellent times to go through cupboards and donate or sell your unwanted goods. You might make some serious cash with that designer handbag you thought was a good idea five years ago but haven’t used since.
Find free alternatives to your favorite things.
Instead of going to the cinema, have a movie night at home. Love reading books? Join your local library. You might only need to go there once if they have an ebook service like Overdrive where you can borrow ebooks for free. What’s your favorite thing? Drinks with friends? Hang out at a park instead. There are plenty of free or low-cost alternatives to whatever is your thing, you just have to look.
Check your local area for events.
I’m always surprised by how many free events that our local council puts on. Especially around school holidays. Jumping castles, book readings, boot camps.
Same goes for the big shopping malls. As long as you avoid actually shopping, you can often watch bands play, sample free taste-testing, or find something for the kids to do. Over Christmas, our local mall had face painting (for the kids – not me), Carols, Fireworks and more. Just for hanging out.
Decide what to do with your savings.
Having a goal in mind for the money you’ll save is the best motivation. Whether it’s to pay down debt or save for something special, know your reason why. That reason is what will keep you strong when you get tempted to buy that super healthy green juice (find out the ingredients and make it yourself at home instead).
You Can Do It!
A week isn’t that long, but it could be the motivation to start a lifetime of better spending habits. Gaining control over your money is one of the most important things you can do to ensure a better future.
Good luck for your challenge.
Let me know your tips below.
More Resources about having a no spend week:
- The easy trick that helped one 26-year-old save $18,432 in 6 months – cnbc.com
- 75 Things To Do On A No Spend Weekend – savingandsimplicity.com