I’ve read about a lot of no spend challenges and I thought I could take one on. I even signed up for a newsletter to help me with the challenge.
So far the emails have given me tips that I already know and attempt to follow. The big tip however is don’t spend on extras that you haven’t already saved for. I’ve already fallen on this one by going out for an impromptu team lunch, purchasing bake sale pans and a tray of cupcakes at an event. I was originally very skeptical of no spend challenges, mainly because of the title.
No spend is a bit of a misnomer it’s really a necessary spending plan. Necessary spending changes from person to person. This month I feel I need new boots. Need is a fairly strong word.
Will I die without it? No but I only have one pair of black winter/fall shoes. If I have more than one I won’t wear out my current pair too quickly. I also have a lot of clothing that would look much better with brown boots. Therefore it’s in the budget.
After the first week I know that a no spend challenge is not for me. As you know I tend to give myself strict limits and then feel awful if I don’t maintain them. If I had taken the no spend challenge I would have felt terrible about the additional expenses this week.
My current weekly spending plan works for my needs. I am grateful that I explored the no spend as it highlighted that my current tool is the right one for me.