Who wants to join me for a no spending challenge next week?

[laurend1985]

You are not to spend any money unless it's in your budget like gas or meds and you have one free day. We are going to do this mini challenge twice a month.

1. 6 days of no spending unless it's in the budget like gas or medicine.

2. You have one day free to spend on whatever.

3. Shop for all your food this week-end and fill up your gas tank.

The challenge starts Monday, August 20, 2012.

[bjl584]

Interesting concept, but I will have to pass. I focus more on the saving side of the equation when it comes to my finances. I save and invest a set amount every month. As long as that number is being met I could care less what I spend on. Unorthodox maybe, but it works for me.

[breathemusic]

I'm in. I've been letting my spending creep up. Buying too many lunches at work instead of packing, etc. I need to work on it again!

[laurend1985]

Okay, that's 2 so far. Who else is in?

[BuckyBadger]

Okay, the thing that I don't really understand about "no spend days" is that everyone talks about "stocking up" before doing them. Doesn't that kind of defeat the purpose? If instead of going shopping on Wednesday, I go on Tuesday, I'm still shopping. I'm still spending the same money I'm just doing it on a different day.

Is it just psychological?

Anyway, I'm with bjl. We save first, and we save a lot. The rest of it -- we spend. On any day we want, for anything we want ;-)

[kork13]

You are not to spend any money unless it's in your budget like gas or meds and you have one free day. We are going to do this mini challenge twice a month.

1. 6 days of no spending unless it's in the budget like gas or medicine.

2. You have one day free to spend on whatever.

3. Shop for all your food this week-end and fill up your gas tank.

The challenge starts Monday, August 20, 2012.

Pardon my bluntness, but is this supposed to be financially beneficial in some way? (I know -- Shun the non-believer!! SHUUUUUUN!!! )

I guess I just don't get it...

Regarding #1: What do you call "in the budget"? Everything should be "in the budget" somewhere, whether for critical things like groceries and utilities or frivolous like a Big-Gulp at 7/11. If anything doesn't fit in the budget, there are bigger problems -- you're spending beyond your means.

#2: No comment...

#3: If you're going to buy everything this weekend so you don't have to buy anything next week, what's the difference? You're still spending the same money.

Sooooo.... am I just crazy? What's the deal here?

[laurend1985]

I mean don't spend and break the bank. Buy your regular groceries but stopping for a latte during the week is a no no or buying a dress because you want it is a no no. Some of us here aren't not as disciplined as some of you guys.

[breathemusic]

I think stocking up on things like groceries is actually cheaper if you plan it out ahead of time. I walk by my grocery store every day between my bus stop and my house. The downside of living a block from the grocery store is that I tend to buy crap almost daily and much of it is unnecessary.

The no-spend week is also great for forcing yourself to get back into packing lunches and such.

I agree that a no-spend DAY is a bit pointless. But a no-spend week is more challenging.

[feh]

I mean don't spend and break the bank. Buy your regular groceries but stopping for a latte during the week is a no no or buying a dress because you want it is a no no.

This is every week for me, so I guess you can count me in.

[laurend1985]

That's 3, yipee.

[rennigade]

You plan on not using electricity, water, any other utilities?

Unless you "live off the grid" its nearly impossible not to spend.

[GREENBACK]

Unorthodox maybe, but it works for me.

I'd hardly call it unorthodox. It's a lifestyle that keeps you from having to do things like not spending any money for a week. I do the same as you and never have an urge to suddenly shut my wallet for a period of time. No offense to the O.P. by the way.

[PetMom]

The OP has a good idea.

Anyone watch The Learning Channel's 'Extreme Cheapskates'? They had a guy, Jeff Yeager - google, he has a blog, who did this as a financial fitness sort of thing. He even rode around town on a bike (no gas needed) and found change because they were on final day of their no spending week and they needed a cheap meal.

When you fill up for the week - you find out where your gas bill might be going up by doing extra unplanned errands.

When you bought food you have to make your lattes at home or take your lunch.

This also is a good way to find out where spending is going.

Doing a no movie or dinner out (even if date night) just adds money to the EF.

Those broke neighbors that keep asking for a loan? Just tell them you are on a no spending challenge (that would be the best reply ever). No spending day - now no spending week - the marathon of no spending discipline.

[ella101]

A challenge

Don't buy if you're hungry because there's a tendency that you could buy unnecessary foods. I am doing that and it really helps the budget.

[twest]

Count me in Laurend 1985 I am going to give it my best shot.