Happy September everyone! Welcome to our no-spend month challenge!
I was so happy to hear your enthusiasm when I announced that we’d be having a no-spend month in September. It’s fun to know that there are others out there challenging their spending as well. I’m planning on an encouraging month of sacrifice that accelerates financial progress.
If you’re new to the idea of a no-spend month (sometimes called a frugal fast, spending fast, spending freeze, etc), don’t worry. It’s pretty simple. In fact, in my version of a no-spend month, you get to choose your own rules! We’ll get to the rules in just a second. First I want to look at our “why.”
Define Your Why
Going a whole month without spending might be hard. That’s why we call it a challenge! Just because it’s hard doesn’t mean you shouldn’t do it. Keep yourself motivated with a good goal. Having a solid goal will keep you in line and pull you through when it gets hard. When you’re tempted to cheat think of the reason why you took on this challenge. It probably wasn’t just for fun.
We want to really maximize our September debt payoff. Since our August income was as high as it has ever been during our debt payoff years, we want to use as much of it as possible to put toward our debt. At the same time, having a no-spend month right after a high income month will keep us in check and we won’t be tempted to use our extra income frivolously.
Make Your Rules
The beauty of a no-spend challenge is that you can adapt it to your own situation.
To get the most out of this challenge, you need to set specific rules. “I’m just not going to spend as much” is not a rule any more than “I’m going to eat better” is a diet plan. You can’t keep yourself in check without specific rules.
I suggest writing down the rules and telling someone that will hold you accountable. Lots of you shared your plans in comments to the original post. If you need ideas for possible rules, check out the comments. I’m really behind on responding to comments, but I have read them all and I’m excited for the great things you’re going to do!!
We won’t spend money on food (groceries or eating out), clothes, entertainment, gifts, or household needs (toiletries, baby stuff, home office stuff, etc).
I do have one exception and that is to get new running shoes for my daughter who runs cross country. I thought her old shoes would last through the season, but they are literally falling apart. I had planned to get some in the last couple of weeks, but that didn’t happen.
SixFiguresUnder will have its normal varied blog content on Monday, Wednesday, and Friday. On Tuesday and Thursday I’ll be writing content especially geared toward the no-spend month challenge. Check in here every Tuesday to discuss how we’re doing. I will add a link-up (something I’ve never done before) so those of you who are blogging about your progress can share your posts. If anyone has a post to share today about getting started with your no-spend month, feel free to leave a link to your post in the comments.
Our closed (private) Facebook Group Making Frugality and Finance Fun is a great place to interact with others who are taking the no-spend challenge and who are generally frugal folks. Feel free to follow the link and request an invitation to join. It’s an encouraging group!
What’s your plan?
- I’d love for you to share the rules that you set for yourself.
- Are you in this alone or is your spouse or family in it with you?
- What is your “why”? What are you going to do with the money that you will save by not spending in September?