How To Set Yourself Up For Success During A No Spend Challenge

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A no-spend challenge will be far more successful if you prepare for it ahead of time because your mindset plays a big part. You need to be prepared because this type of challenge is new for many of us.

How To Not Spend Money?

Taking time to consider what’s involved and deciding on certain parameters can help you experience less stress throughout the whole no buy experience allowing you to reach your specific goals in the end. Keep reading for tips to set yourself up for success during your next no spend challenge. 

Know Your Purpose

First, you must know why it is you want to do this challenge. Determining your goal will help you to stay motivated and increase your chances of feeling satisfied in the end.

Do you want to save a certain amount of money to reduce your debt or save for a holiday? Maybe you wish to make it your aim to find free and inexpensive entertainment ideas or learn to have more willpower when it comes to impulse buys. Knowing your purpose lets you be intentional during the challenge. 

Set Your Budget

You probably have a general idea of what you spend on necessities each month. If you don’t, now is the time to figure it out!

Knowing what you need to get by will allow you to determine how much you hope to save during your challenge. How much do you NEED to pay the bills? Don’t forget to be realistic with this goal. You don’t want to sabotage yourself with a goal that’s too difficult to attain. Take it slow!

Leave Some Space

Be sure to allow yourself some wiggle room when planning your challenge budget. Remember, stretching yourself too thin can derail your progress or cause you to abandon the challenge completely because it seems too hard, or extreme.

Be sure to go ahead and add special events or occasions into your budget and list any non negotiables. Be sure to keep things that are important to your wellbeing and life goals.

For example, you may determine your gym membership is worth keeping because it helps you keep anxiety at bay and improves your mood. A budget is NOT meant to make you feel deprived. 

Brainstorm Alternatives to Spending

One of the most proactive things you can do to increase your chances of success in your no-spend challenge is to have some ideas for how you will use your time and plan!

A lot of our free time is used on things that require you to spend money but it doesn’t have to be.. there will be plenty of no spend things to do in your area you’ll just need to stop and think about it.

Many leisure activities such as concerts, trips and dinners out cost money, there’s no getting away from it. We happily drop cash on clothing, electronics and items for the home too in fact, you don’t even have to leave the house to make impulse buys!

Easing boredom with a quick scan of social media, Amazon or eBay. Instead of spending on these things, come up with a list of alternative things you could be doing. A quick internet search should give you a ton of ideas to inspire you or maybe just put your phone down! 

Using these tips to plan for your no spend challenge along with some forethought and preparation means you’ll have a much more successful and enjoyable experience of not spending money!! Let me know how you get on & feel free to PIN to read again later!