Wait, did we actually make it through ANOTHER no-spend month? Yes, by the skin of our teeth, with only one day to spare, we reached our goal.
No-spend month has become a twice-a-year event in our house. January and August are our official no-spend months. And each time one rolls around, we get a lot of questions about how it works.
"How do you not spend money?"
Well, for starters, that's not what we do. We do spend money during no-spend month. What makes it a no-spend month is what we DON'T spend money on. This is an important distinction, because everyone approaches no-spend month differently.
Before we get into the "how" no-spend month works, it's actually more important to understand the "why" do one at all.
We primarily do no-spend month to kick bad spending habits that have crept in. Last year, we did no-spend month in August to help save money for a move we were about to make in September. No matter why you do it, you've got to pick a why that resonates with you, otherwise, you're probably not going to stick it out.
So, what DO we spend money on during no-spend month?
- bills
- groceries*
- gas for our cars
- medicine + doctors apt co-pays
Everything else is extra. (*We do have some guidelines for what constitutes as an extra grocery item.)
- eating out
- clothing
- starbucks
- anything off amazon
At the grocery store I don't buy individually packaged yogurt (I get the big container), fancy cheese (like goat cheese), desserts, any kind of bread other than sandwich bread, etc. Groceries is an area where I really focus on cutting out extras, because it's so easy to get into the habit of buying things we don't really need just out of convenience (like pre-bagged chips or baby carrots for lunches). Some people will really cut costs here and basically just eat beans + rice for the whole month. We don't take it to that extreme. In fact this past month I let myself have coffee creamer, something I had given up in all previous no-spend months.
We let ourselves (this is for my sanity) have one eat-out meal a week. Pre-COVID that meal had to be eaten AT a restaurant, could not be fast food, could not cost more than $40 for the whole family, and all four of us had to be present at the table. This go-around we opted for pizza delivery and drive through CFA but kept the budget and "all the family has to be together" rules.
Lastly, we set a goal and pick a prize. Our goal was to have 30 no-spend days. (We started early on July 27th.) If we met our goal, the kids wanted the prize to be a stay up late movie night with popcorn, pizza, and cake. Each day, we tracked our successes (and failures) on a calendar we hung up on the fridge.
My number one tip for no-spend month is if you are married, be sure you and your spouse get on the same page about no-spend month before you start. If you're both not on board with the "why" and the rules you've set for yourself, it's a lot harder.
My second tip is make your rules manageable. I don't recommend making this an exercise in self-deprivation. Remember, we do this to kick bad habits! Or save money.
Do I really need uncrustables for my kids? No.
Do I need that extra pair of shoes the influencer on instagram is showing me? Even if there's money in the budget for it? No.
Do we need to eat out 4 nights a week on top of 3 trips through CFA for lunch during the week? No. No no no. (Salt alone is a good reason why not to do that!!)
And my third tip is track. Get a big fun calendar like ours or use a printable like this one. Hang it up where everyone will see it. Use stickers. Use markers. And if you have kids and you get them excited about the prize, I promise they will remind you to track, and they'll keep you accountable.
Until next time,
<3 Lindsay
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