January is typically the time when you think about your goals for the upcoming year. You make resolutions, or promises, to make changes toward a better you. It’s a great opportunity for a fresh start; the opportunity to do something different, something better, for the coming year.
Gift giving, travel, activities and celebrations can make December an expensive month. A great way to get back on track after the holidays and start off the New Year right is to have a No Spend Month.
Really, anytime is a great time for a no spend month – I encourage you to try it no matter what time of year it is!
If you’ve been reading this blog for long, you know I love no-spend weekends. Having a no spend weekend is a great way to save money, but an entire month is a whole different ballgame. I mean, you can typically get by without going to the store and you can certainly find free entertainment for just two days. But…a month?
A month is an entirely different animal. But it’s doable. And it will likely save you a ton of money! Not only will you save a heap of money but, by going cold turkey, you can see where your money leaks are and just how little you can actually survive on.
My challenge to you, friends, is to join me for my no spend month.
Now, you can’t just jump into a no spend month and expect things to run smoothly. A month with no spending requires a little planning and prep work. And, no doubt, your creativity will have to kick in to solve some problems during the month. But the idea is to stretch yourself and your money. Think of it as a game you intend to win.
I will publish weekly posts throughout the month, with suggestions on what to do and how to get through the month with your sanity intact. The posts will update you on how I’m doing*, what I’m doing, and the challenges I’m facing during my own no spend month.
I need to prepare for this and so do you. So, I’ve put together some guidelines to help with preparations.
How to get ready for a No Spend Month
Set your own “rules”. For instance, I am allowing the purchase of milk and enough fresh produce to get us by. I won’t buy any other groceries. This is a great opportunity to use up what you have in your pantry (I know mine is overstocked).
You may also have to make a rule that you can purchase medication, school lunches, and other necessary expenses unique to your situation. Be very specific about your allowances, just don’t get too crazy with the number of exceptions. Make sure they’re necessities or non-negotiables. And write them down to keep yourself accountable (I’m including mine below).
Maybe you have activities and obligations already scheduled for the month. Don’t let this stop you from participating! Place a spending limit on those activities and write them in as an exception.
During her no spend month, Tiffany, over at Don’t Waste the Crumbs made the rule that if she sold something on Craigslist, she could use the money during the month. What a great incentive to clean out and side hustle a bit!
My exceptions:
- Milk (almond and cow)
- Fresh produce (enough for each meal)
- School lunches for son
- Prescription medication
- Family birthdays (Dad and Mom-in-law – less than $20 total)
- Breakfast for Taekwondo test (less than $20)
- Fuel (to get to work/school and classes only)
Talk to your family. Kids and significant others may think you are trying to torture them. Talk to them ahead of time and get them involved in making the “rules”. Get them excited about meeting the challenge and getting creative. Make a chart to see how much you’ve “saved”! It’s all about attitude here…have fun with it and stay positive.
Prepare for needs (cautiously). You need to ensure you have an adequate supply of certain things, such personal care or health needs (tp, soap, medication, water). Don’t go overboard here, or it could lead to excess spending. Just check your supplies to ensure you have enough to get through the month, don’t stock up for the entire year.
Groceries. As with the previous point, don’t buy enough food to get you buy for several months. Prepare minimally for one month. Clean out the pantry and freezer to take stock of what you have on hand. Think ahead on meals. What’s for lunch each day? Do you have enough coffee (coffee is a must in my house)? What are your bare necessities for healthy eating?
I expect to do more baking and food prep than I do in a typical month. But, I figure I’ll have the time since I’ll be home more! 🙂
Entertainment. Plan a few no spend activities ahead of time (check out this post for some great ideas). This would be a great time to use any gift cards you have sitting around, break out those board games that rarely get played, or DIY a home project with things you have around the house.
Pet needs. Check your pet supplies to make sure you have enough food, litter or medications to get your fur baby through the month.
Plan what to do with the money you saved. Whether you throw that extra money at debt, retirement, an emergency fund, or a planned purchase, make it an intentional choice. Don’t let all the money you save during the month just disappear into thin air. Track it and use it wisely.
Post reminders of your why. Why are you doing a no spend month? The answer could be an overarching financial goal, a vacation, or a dream you want to fund. Whatever it is, post it on the fridge, on the bathroom mirrors, in your car and in your wallet as a daily reminder of why you’re doing this.
Mentally prepare. Get your mind right. Don’t think of a no spend month as a month of deprivation, but as a month of growth and challenge. Be positive. It is going to stretch you and challenge you and it won’t always be easy, but it’s only a month! And just think of the possibilities!
Who’s in?
*To quantify my “savings” for my no-spend month, I’ve added up my average monthly spending on all non-fixed bills for 2016. My average spending is $1650 (not including bills, such as the mortgage, utilities, insurance, etc. and travel-related expenses).
Great idea and something we should try out just for the pantry clearing effect. I’m sure we could live on a month based on what’s in there and if we didn’t eat it, it should probably be tossed.
I think I have to many trips to give it a whirl in January, but maybe that nice short feb month
My pantry is overflowing, so this is exactly what I need to get it cleared and start over!
It’s funny, my husband asked me why I didn’t consider February for this challenge since it’s a shorter month. I get the sense he’s a little hesitant.
I am doing this for February 2017. Check it out at http://www.wifewriter.com
Great to hear, Kate! Good luck to you and I’ll click over to check it out. Thanks for sharing! 🙂
For us, talking about the challenge before it was an issue. I don’t think Jon and Little Bit really understood I was serious until a couple of days in, and then it was a shock to the system.
We may go along this time with you…we’re overstocked in the pantry and freezer, and I’ve also gotten a bit more prone to impulse spending the last couple of months. Maybe I need to adopt the side hustle rule…anything extra we get is spendable…and try to clean out our clutter, too.
Yay! Yes, join me, Emily! I like the idea of living off side-hustle $$$ for the month. You can really make the month what you want it to be.
My husband and I have been discussing it for a couple of weeks. He knows I’m dead serious (and so do the kids). My son is a tad bit concerned about what the food situation is going to be like. I know I will have to bake more than I usually do to keep him fed! 🙂
I might be crazy, but this sounds like a fun challenge! Sometimes you need to stop bringing things into the house so you can get creative and use up the oddball items in your pantry and freezer.
I think you are crazy, Mr. CK! I must be too, ’cause I’m excited about it (though the end of January might find me feeling differently). I’m am totally at the point that I need to stop grocery shopping and eat up what we have before it goes bad. It will definitely take some creativity though!
Wow this sounds like a crazy yet amazing plan! I’m very interested to reading about your progress. Personally, I think I would have way too many exemptions to make this successful haha!
It is a bit crazy, but I love a good challenge, especially when it saves me money! 🙂 You know, you could just pick one thing not to buy and see how that goes? I always like to experiment with my routine to see how it impacts my pocketbook.
A no spend month!? That’s definitely a challenge. I’m not sure if I could handle a no spend month, especially since my birthday is in January and I’m going to want to party. But maybe I could try a no-spend on going out to eat at restaurants month, because that’s my biggest money drain.
Yes! You could totally just cut out the restaurants and see how it goes (and how much you save!). Or, you could write in your birthday as an exception… 🙂
Amanda – I am IN! Though admittedly, my goal will be quite a bit more conservative because I would really love to succeed. I will keep all groceries and lunches, etc. But no ordering or dining out, no indulgences for the children (they are making out quite well for Christmas!), no clothes, accessories, trinkets or home shopping for myself, no movies and no trips to the bakery for treats after school! The only last exception is an expensive thing – a ski trip. But if I can just even it out with my savings, I’d be very happy. We are still debt free and just about done with Christmas expenses (only thing left to buy is an octopus for my Christmas Eve octopus salad) and I have never felt so good at this point in the year. I am very motivated to go further in January!
YES! So, so happy you will be joining me, Linda!!! That’s the thing about the no-spend month – you can make it what you want and write in your exceptions. You’re right, the other things you cut out will even out your savings with the ski trip thrown into the month.
And, congrats on staying debt-free!!! I think the stress level is definitely lower when you go into the holidays knowing you won’t have regrets after it’s all over.
I love you rules and plan to follow as well!! Cut out the unnecessary trips to target and the drug store. No fast food runs! If I don’t need it don’t buy it! A few minutes this ago I wrote “needs” on my debit card to remind me that I only need to spend on needs. The ink has worn off and so has me sticking to that plan:-(
Thanks for the comment, Katrina! And, you know, even if you falter one day, it doesn’t mean you can’t get right back to it the next day. Cutting all unnecessary trips to the stores and fast food runs could add up to some great savings over a month! Let me know how it goes! 🙂
This is a great explanation of how to plan. I will be traveling for much of January, so I will not be joining you on this challenge, but I am definitely interested in reading about how it all goes!
Thanks, Matt! It would be nearly impossible to do while traveling!
January is typically our “No Junk Food” month but the “No Spend Month” is a good idea as well. Especially since the 1st quarter is always the busiest time of year for credit counselors.
I’m sure the credit counselors have their fair share of business in January! I’ve done a no-spend month in January before. It’s typically cold and nasty outside in Iowa, plus life just don’t seem as busy for us. I love to reset the finances and goals, so I’m looking forward to it!
Love this idea. We’ll be joining you by having a low-spend month. I’m going to quantify too by averaging our toiletry, pet, grocery and gas money for 2016 and setting a goal. Thanks for the challenge!!
Great, Laurie! So glad you’re joining! I like the idea of quantifying it – measurable progress is always motivating to me. I’ll have to list out the budget category items I included in average “spending” in a future post.
I always think about doing no-spend months or six months or maybe even a year, but I’m not sure what else I would cut! Don’t get me wrong…there are definitely little extras that I could trim down. But I spent so long over-correcting the crazy impulse spending that I wouldn’t buy anything, even when the soles were wearing out in my gym shoes. But then it kind of sounds like I’m making excuses, huh?!
Hmm…I really like this list, though! Maybe, maybe! 🙂
I completely understand, Penny! 🙂 I’m the same way – I super glued the soles of my sandals last summer to see if I could make them last a little longer (got 2 more months out of those babies!). It will be interesting for me to go through the month because it feels like I’ve cut almost everything I can too. The thing I know I need to do is clean out the fridge, freezer and pantry, so this will force me to do that, for sure!
I REALLY like the potential of adding the Craigslist sale as an opportunity to make extra to use throughout the month. I feel like side hustles typically go better if there is an incentive, and in a no spend month there is HUGE incentive to clear out some of your stuff!
It would be awesome to get through an entire month on Craigslist sales alone! If I get desperate, I may start selling…it seems like I’ve sold almost everything I can, but I bet in a desperate moment, I could come up with several things I can live without.
This sounds like an amazing challenge. I especially like the wrinkle of selling Craigslist items to fund purchases outside of your exceptions list.
This seems like a lot of fun and something that we’ll try. Thanks for sharing!!!
It’s great you’re willing to give it a try, MSM! Keep me posted on how it’s going!
I remember you commenting on your ‘no-spend January’ on one of my posts a couple months back, you weren’t kidding! 🙂
I’m not sure if I can pull the whole family into this, but I’m thinking I will give it a shot on a personal level. So, no coffee/eating out, or other personal discretionary spending. I think I’ll need your weekly updates for inspiration to keep me going.
Do it however it works best for you, MMM! 🙂 Updates will be on Thursdays, along with suggestions on what to eat and what to do!
These are great ideas 🙂 love that graphic too! I always have no spend months, by accident! I don’t have any money to spend, lol. My best advice is to avoid the temptation – stay out of the shops.
Thanks, Francesca! 🙂 Avoiding the temptation is the key, for sure! In fact, I have a post on spending triggers toward the beginning of January to help us all with this temptation. With online shopping, it’s not as simple as just staying out of the stores!
I would love to clean out my fridge and freezer. Regardless of how much I will save, by cleaning out my freezer, I am already saving money as I don’t have to throw out food. I will set a goal for myself to only eat out once a week. Can’t wait to start.
– Leo
Awesome, Leo! Thanks for joining me! I like to score all the grocery sales, so it’s good for me to go a month without buying much food in order to use up what I have. Keep us posted on how it goes for you!
You are more advanced on the “bad-ass” scale than I am, Amanda. I’ll do a partial join, if that’s OK? I’ll do a no-spend-on-meals-or-snacks-out month. As always, we are just leaking through December. Ugh! January, we’ll get back into shape again.
Thanks, Ruth! I like the “bad-ass” classification! 😉 I’m just glad you’re doing a partial join! I think doing a no-spend-on-meals-or-snacks-out is a great idea. Keep us posted on how it’s going.
When I first read the post, I was thinking what..? Not spending at all? Then I realised there’s a list and it really looks quite achievable!
I must say I’m quite intrigued to see how this goes for you. Wish you all the best and I’ll be looking forward to your updates!
It’s definitely achievable! 🙂 You just set your own standards and exceptions, or focus on one no-spend area. Many participants are cutting out going out to eat – definitely doable and can save quite a bit of money!
I’m a bit intrigued to see how it goes for me to! Hopefully it’ll go well…it’s the food I’m most concerned about. Stay tuned!
At first, I doubted a little. You can understand why I had doubts about it, it’s not surprising, isn’t it? But after I read the article and the tips, I must say I can do it. Saving money is important. But sometimes we don’t even realize that we are spending a lot of money, which can be avoided. I will share the message with my parents and my siblings.
Thank you for sharing such an amazing tips with us.
Thanks! A whole month can seem a little daunting, I admit, but you can customize it to make it work for you. Thanks for sharing and stopping by! Let me know how it goes! 🙂
I am in on this challenge!! I have been looking online for someone who will be doing it at the same time, then I found you!! Hurray! Most of the other ones I have come across have been past ones, so I am looking forward to this and checking back in.
Regina
Yay Regina!!! 🙂 So glad you found me! I’ll be doing at least weekly posts on how it’s going and suggestions. BUT…if you get stuck in the meantime and need some encouragement or support, by all means let me know! I may need some support to! I’m excited and a bit nervous at the same time – the food is going to be most challenging for me!
I need to do this. To hold myself accountable, I am posting my commitment publicly. I can pay down a few bills completely without feeling stressed about money next month. Thanks for setting up the challenge.
Awesome, Jocie! 🙂 So glad you publicly committed and are joining us! I have a large insurance bill due in January, so the no spend month will help me better handle it too. Please keep me posted on how it’s going. I look forward to hearing your progress!
2016 my Challenge was to eliminate purchasing clothing. I limited myself to a small rolling rack. I will purge my closet this next week donating to women’s shelter and church. I accept the no spend month as my 2017 Challenge and have invited my family to participate.
That’s awesome, Dee! So glad to have you along for the ride! We just made a huge donation after purging as well. Keep me posted as we go through the no spend month and let me know how it’s going. Tomorrow is the kickoff!
This sounds like a good opportunity to clean out the pantry and freezer after the holidays. Then, clean out the closets and storage areas. I don’t do Craig’s List, nor Ebay, but I do donate to Goodwill and deduct the donations from my taxes each year. It results in a $ savings in the long run. We rarely go out to eat or order take out because I usually cook. We don’t go out to movies or spend money on entertainment outside the home. So, doing a no-spend month will mainly focus on cleaning out the closets, the pantry and freezer for us.
Exactly, Ruth! I desperately need to get through my pantry items, as they’ve been accumulating to the point of overflowing. My deep freeze isn’t too bad, but I have two refrigerator freezers that need cleaned out as well.
I just took a donation to the thrift store last week – I itemized the value of the donations so I can deduct the amount on our taxes.
Your no spend month sounds similar to mine. We don’t go out to eat much (though we did over our winter break!) and entertainment expenses are minimal. The thing that will challenge me the most is the food, especially as I get toward the middle/end of the month!
Let me know how it’s going for you! Thanks for joining in!
I would think that in preparation for the spend free month you blow your budget the month before to make sure you don’t run out of food. Our pantry is pretty spare as we try to only eat fresh food from WholeFoods and go to the store every day. Any suggestions?
I went over my budget on groceries a little the month before, but it was more due to the holidays than stocking up. Maybe you could go with the cheaper produce (in season is cheaper) or try a different store to challenge yourself. As far as organic goes, Aldi and Trader Joe’s have a decent selection of organic, natural foods. If you happen to have a Fresh Thyme Market near, check that out too – I score some great deals on organic produce when I shop there.
I am going to try this in February. I will have to convince my husband! (I think as long as he can purchase bait for fishing each week, he’ll be okay.) We are going to Disney World in March, so it would be nice to save money in February to use at Disney. That definitely will convince my daughter.
Yay, Elena! So glad you’re going to give it a go! Sure, write in the bait as an exception for your husband. And Disney World is fantastic leverage to convince your daughter. I have to say, my kids are handling it much better than anticipated. I talked to them about it beforehand, but wasn’t sure if it really sunk in. They’ve been great sports – so far. We are starting to run out of some snacks (but I’ll make them cookies!).
Thanks for all of the refreshing ideas & challenges. I recently realized that i can save about $100. each month by
drinking my coffee black instead of with coconut milk! There’s lots of ways to save if you take a good look around your kitchen, make a plan and focus on necessities! Thanks for sharing!
Thanks, Gloria! It’s true – there are more ways to cut back than we realize at first. I think we just get into a routine of spending on certain things, so it’s good to shake it up and challenge all our spending now and again. The no spend month really helped me realize the little things I spent on that I could do without – and that savings has carried over two months now. It’s great you are able to save the $100! Thanks for stopping by and sharing! 🙂
Hey Amanda,
Thank you for your awesome post! My husband and I did no spend February and we had tons of success! I wrote some of the details out in my blog. If you have a second, please take a look. I’d love tips on saving or blogging.
Congrats on the no spend month, Liz! I’m tossing around the idea of doing another one in May. I’ll definitely check out your blog. Thank you! 🙂
April is a heavy spending month for me with property taxes and income taxes so I’m going to do a no-spend month for May. I am great with grocery shopping and sometimes save more than I spend, and get good stockpiles of staples and frozen meats, vegetables and fruits. I could do a no-spend month several times. I am going to try every other month. I have confidence that I can do this challenge. I think it will be entertaining and imaginative. Thank you for posting.
I am doing a modified no spend month in May too, Barbara. I know you can do this – especially if you’re good at stocking up! I’ve noticed the pantry and freezer are starting to fill up around here, so I’m spending as little as possible on groceries and extras in May too. Let me know how it goes for you! 🙂