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StitcherReady to challenge yourself for a No-spend October? As we bid farewell to this month, we will soon feel the festive spirit of the remaining holidays of this year. The biggest obstacle to success in this challenge is your commitment and discipline, but the Frugal Friends believe in you. Together, let’s discover ways to prepare for your next no-spend challenge and the secret to finishing it with success!
Stop focusing on what you are giving up, but rather on what you are gaining.
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Check out some relevant episodes
Using a No Spend Month to Save Money
This article from Forbes highlights ways we can use a no-spend month to save money.
What Jen + Jill have to say:
You can do your no-spend challenge for a year, week, or days; it’s clearly up to you! Prepare, understand, and engage with your goal for starting the no-spend. Jen strongly advises not to take someone else’s essentials and apply them to yours; define your OWN essentials, which can differ from others.
Jill wants you to ask yourself relevant questions to align them with your values and goals. Do not forget to take into consideration the pros (short-term commitment, provides clarity, highlights priorities, and helps with longer-term savings) and cons (can have a ‘diet effect’, only for a month—cannot accomplish bigger goals in a single month) of doing this challenge to better understand the system you have to build in order to succeed in it.
How to Do a No Spend Challenge – Plus 10 Tips to Stick With It!
This article from The Savvy Sparrow gives us a whole list of tips on how we can plan for (and stick to!) our no-spend challenge.
What Jen + Jill have to say:
Permission to be kind to yourself is Jill’s very first and most important tip one should carry as they embark on their no-spend challenge. You will make mistakes or break the rules; hence, planning for it ahead would mitigate the risks of falling into binge spending.
Try using unused gift cards for a no-spend challenge—this is a tip Jen used to do all the time. Bring out your nice mug and snacks when leaving the house to avoid eating out, or plan your meals ahead (while doing so, make a grocery list before going to the store). Get in the habit of tracking your spending and earnings to know your progress. Just try not to do this right before a big holiday or the event you see yourself needing to attend!
Our plans for a no-spend month
Jen has done enough no-spend days in her life, so she only plans to do 16 no-spend days next. While Jill doesn’t really spend much already in the first place, she will only be spending money on their house renovations.
Bill of The Week
Thank you Sara for sharing your bill about a ‘Bill of Sale’ for selling your vehicle AND paying off a credit card, and 2 of your phones!
Thanks so Much for Listening!
If you don’t know it yet, we have a 30-Day No-Spend Challenge workbook to help you plan, accomplish, and reflect on your next no-spend challenge. We wanted to give a shoutout to this friend who gave the workbook a review:
✰✰✰✰✰
I love this workbook!
It’s laid out in an easy to follow format. The questions really made me think why I want to do this challenge.
I’ve tried to do no spend challenges before and having the workbook is making a huge difference for me. Between that and having accountability partners also doing the challenge I know that this time will be much more successful!
Thanks for listening! If you want freebies, saving tips, and values-based spending hacks sent to your inbox every week, head to frugalfriendspodcast.com/friendletter to get the goodies! And if you already get the friendletter start sharing it with your friends to get more free goodies!
Keep leaving us reviews on iTunes or Stitcher, and sending the screenshot to reviews@frugalfriendspodcast.com. And don’t forget to share your favorite quote from the episode by using the hashtag #FrugalFriendsNote. 😉
