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

[laurend1985]

Remember the challenge starts Monday.

[laurend1985]

@breathemusic
@feh
@twest

The no spending challenge starts today.

[bjl584]

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.

I can see this strategy being beneficial for someone just starting out with budgeting or for someone that may have gone off track a bit, but for people that have a handle on their finances this definitely seems unnecessary.

[twest]

I guess for me I am kind of like you bj1584. I do set aside about 30% of my bring home pay every month and then spend the rest on whatever we want or need. I put that toward retirement, general savings and extra on mortgage. However I am always looking at ways to save more. I guess I am funny that way. I feel like in some areas I just spend and don't think about it. So sometimes I think a no spend week will help me see if there is something I might can do even better.

[bjl584]

I guess for me I am kind of like you bj1584. I do set aside about 30% of my bring home pay every month and then spend the rest on whatever we want or need. I put that toward retirement, general savings and extra on mortgage. However I am always looking at ways to save more. I guess I am funny that way. I feel like in some areas I just spend and don't think about it. So sometimes I think a no spend week will help me see if there is something I might can do even better.

I agree that it may help you get back on track or help inspire a few ways to save more. The problem I see with doing this is that people will tend to "stock up" on various items before the no spend week starts. Fill up the gas tank, fill up the fridge and pantry, pay some of the bills early, etc. Doing that will not accomplish anything.

[BuckyBadger]

I agree that it may help you get back on track or help inspire a few ways to save more. The problem I see with doing this is that people will tend to "stock up" on various items before the no spend week starts. Fill up the gas tank, fill up the fridge and pantry, pay some of the bills early, etc. Doing that will not accomplish anything.

That's my issue with the whole thing. So many times people on the blogs write about all the things they're paying for/buying ahead of time so that they can say they had a "no spend" day/week/whatever.

I think it makes more sense to focus on the actual things that you're trying to accomplish rather than the *technicality" of not opening your wallet for a day. Don't want to waste money on food? Pantry Challenge. Save money on clothes? Dedicate a day to mending, culling, and Goodwill. Things like that make more sense to me.

[twest]

That's my issue with the whole thing. So many times people on the blogs write about all the things they're paying for/buying ahead of time so that they can say they had a "no spend" day/week/whatever.

I think it makes more sense to focus on the actual things that you're trying to accomplish rather than the *technicality" of not opening your wallet for a day. Don't want to waste money on food? Pantry Challenge. Save money on clothes? Dedicate a day to mending, culling, and Goodwill. Things like that make more sense to me.

Yea I definitely see where you are coming from on focusing on certain areas. I do agree that things should already be in our budget and if not then there is a bigger problem. We didn't do any stocking up this weekend but I can see where you would question "what good does that do" Because it is still spending, just on a different day.

[laurend1985]

I didn't stock up on anything. I'm just saving extra money and keeping myself focused. If you don't like it don't participate.

[BuckyBadger]

I didn't stock up on anything. I'm just saving extra money and keeping myself focused. If you don't like it don't participate.

I'm not We're just having an interesting discussion about the concept of the "No Spend Day." Not contentious, not mean. Just discussing.

[disneysteve]

There is another site where folks do no spend days/weeks/months. I think the benefit is that it makes people think about everything they spend, and that's never a bad thing. Do I really need this? Is this in my budget? Can I afford it? Those are questions we all should ask ourselves anytime we reach for our wallets.

Personally, I wouldn't participate because I don't follow a spending budget and I can't tell you today what I'm going to need to spend tomorrow or 3 days from now. So this wouldn't work for me, but it does seem to motivate a lot of others and I'm fine with that. Good luck to those who are doing it.

[laurend1985]

I'm doing real well on this. I haven't spent a dime since Sunday. This is getting me back on track.

[breathemusic]

So first of all, I totally failed at my no-spend week. I didn't do my grocery shopping for the week over the weekend since I had a guest in town, so I had to do that later on in the week, which meant I bought lunch at work on Monday. Fail. lol.

But in response to some of the other comments about stocking up and paying bills early defeating the point, I guess I disagree. I think you can stock up on groceries and pay bills early and fill up the gas tank ahead of time and it DOES still meet the purpose. The point of doing those things early is that you plan out your week. You plan your meals and you get what you need to pack lunches, etc. Buying groceries for the week and then sticking to your grocery plan and packing your lunches is almost always cheaper than buying groceries on impulse and having to buy lunch at work. So yes, you spent money early, but the point of a no-spend week is that by planning out your spending ahead of time, it costs less than spending in the moment.

[Like2Plan]

I'm doing real well on this. I haven't spent a dime since Sunday. This is getting me back on track.

How did you do this week? I think it is great that you are setting small goals and trying to meet them. I don't mind cheering you on if it helps.

[laurend1985]

I did great and I went through the week without spend a dime. I"m doing it again this week.

[bjl584]

I did great and I went through the week without spend a dime. I"m doing it again this week.

2 weeks? That would probably strain me a bit. Good luck doing another week, just resist the urge at the end to go out and spend a large chunk of money to get caught back up with things.