If you’re interested in taking a deeper look at your spending and identifying how you can cut back, a No Spend Period is a great exercise!
Find out what kinds of things you’ve been spending your money on, how you can make do without, and how many different things you can do without spending a cent!
A No Spend Period is all about taking a look at what you normally spend money on, and seeing how you can really do without. It’s about getting creative with your spending and making do with what you have. It’s also great for recognizing how many things you typically spend money on in a day, week, month… that are actually a want instead of a need.
A No Spend Period can be any amount of time you feel comfortable with.
A couple suggestions for a No Spend period:
- No Spend week: try it out for a week and see how it goes, you can always stretch it out
- No Spend month: this takes a little preparation because you are bound to run out of some fresh items in this time, but it can be done!
- No Spend day: pick a specific day of the week or month that you commit to focus on not spending
There are a few things you can do to make sure you have a successful No Spend Period. It’s all about planning ahead.
A No Spend period forces you to get creative with what you have. Since you can’t run out to the store and grab something something whenever you need it, it helps to take an inventory of what you have and how you can make it all work.
It’s a great time to make it to the bottom of your freezer, make bread instead of buying it, or craft something instead of buying it.
I mainly do a no spend period when our freezer has gotten too full. I find that I have a habit of buying the same food each week and these no spend periods get us out of our same old habits and start getting creative.
Spend a little
Make a plan before you start. Spending a little before your no spend period begins will help you stick to it and feel successful.
The key is to not go overboard.
I make a plan to fill up on gas and buy milk and eggs. I almost got bread as well, but I thought I’d see if I would actually make our own bread like I always talk about doing.
Find things you can do that don’t cost money
A No Spend Period is a great time to get back to basics and see what you can do without spending a dime.
It’s a fantastic time to plan trips to the park or the library, go for walks, find out what’s happening in your town, etc.
These are just some of my ideas off the top of my head. I also found this list of 25 Free Acts of Kindness to do with Children from Sweet Tea and Saving Grace and this other great list of 75 Things to Do on a No Spend Weekend from My Debt Epiphany.
We really enjoy each time we do a No Spend Period. We’ve done No Spend Weeks, and a No Spend Month, which ended up a No Spend three weeks.
This month we’ve decided to do a “Clean Out the Pantry” No Spend Period. Since it’s November, we’ll definitely be spending on Christmas presents, but it is time we get to the bottom of our freezer and the back of our pantry.
A No Spend Period is a fantastic exercise. However you choose to do it is up to you.
What do you think? Ready to give a No Spend Period a try?
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