For many years now I've appointed February as a designated ‘No Spend’ month. I think it all started as a way to recover from the additional costs of Christmas, the summer holidays, and the back to school spend fest.
It’s also the shortest month.
Last year was the first in a long while that February escaped this challenge as we had other challenges, ones that transcended money.
This year, it’s back...
What is a ‘No Spend’ month?
In very simple terms it’s a month when only the basics can be purchased. That means food, petrol and regular bills. No clothes, cosmetics, shoes, plants for the garden, toys for the cats, extra special notebooks, trips to the movies. No car washes, haircuts or manicures. No takeaway, no ‘treats’.
Obviously, emergencies can arise but the definition of an emergency is strictly limited to health and vehicular; a long awaited DVD release doesn’t count.
While the ‘No Spend’ month will inevitably change your bank balance in a positive way it will change your habits in a positive way, too. You’ll become more aware of how often you get your purse or wallet out when you’re then putting it back, unopened.
Challenge yourself to a ‘No Spend’ month. Or even just a week and see how you go.
Then come back and share your experiences.