Day 5: Schedule a no-spend month
A no-spend month is where you commit to only spending money on essential items like groceries, bills, housing expenses, and gas. That means cutting out ALL non-essential expenses like eating out, shopping, buying from Amazon, Starbucks lattes, food delivery, and anything else that falls in the "extra" category. Trust me, these small expenses can add up quick, so it's important to be mindful of where your money is going!
To help you succeed in a "no-spend month," I've got some tips for you:
1. Schedule your "no-spend month" when no major holidays or events are happening, which can often lead to spending.
2. Learn how to make your favou
rite coffee and alcoholic beverages at home. Not only will you save money, but you can impress your friends with your newfound skills!
3. Have some unused gift cards lying around? Use them during your "no-spend month" to purchase essential items like groceries or gas.
4. Pack your lunch to bring to work instead of buying it daily. Not only will it save you money, but it's often healthier too!
5. Find an accountability partner who can help keep you on track and motivated during your "no-spend month."
6. Spend less time online and on social media, which can often lead to impulse buying and unnecessary spending.
7. Set a savings goal for yourself and use it as motivation to stick to your "no-spend month" plan.
8. Unsubscribe from emails and texts that tempt you with sales and new arrivals from your favourite stores. Out of sight, out of mind!
9. Plan out your meals and grocery shop on a weekly basis to stay on top of your spending.
10. Learn how to do your own manicures and pedicures at home, which can save you money on salon appointments.