Like many juniors in college, this year has been a year of firsts for me. I moved into my very first apartment away from home, I’m learning how to cook quick and healthy meals and I have a job that gives me a more disposable income than I’ve ever had. However, this income increase and freedom has caused me to develop some bad spending habits. After checking my credit card statements, I found that I was spending way too much money on unnecessary expenses such as Starbucks, eating out or buying new clothes. After doing the math, I realized that I could have saved for something much more worthwhile if I had been more frugal in my day-to-day purchases. Like most things in my life, my TikTok For You Page somehow knew what I was going through and started suggesting videos of people who were embarking on a “no-spend challenge.” I decided to look into the challenge and eventually ended up doing it. This is my experience embarking on a no-spend challenge.
What is a No-Spend Challenge?
Simply put, a no-spend challenge is where you go for a set period of time without spending any money. This is the most basic definition, but the specifics of the challenge depend on you and your personal practices. Think of it as fasting, but with your spending habits instead of your eating habits.
Why did I decide to do this challenge?
I decided to embark on this challenge partly because of my TikTok For You Page, but also because I believed taking a break from spending money could benefit me in the short and long run. Taking a break from spending money could allow me to discover some of the bad habits I had when it came to my own personal shopping habits. Going a period of time without spending money could also help me save more in the long-run. Doing this challenge could help me come to terms with my own relationship with spending money. Am I an impulsive spender? Do I tend to spend money on things that are unnecessary? Learning about these habits could help me better understand how to change them after the challenge is finished.
My General Rules
Going into this challenge, I knew it was going to be difficult for me to spend absolutely zero dollars. In order to set myself up for success, I laid out a few ground rules. Firstly, I decided I would try the challenge for a week and attempt to increase the challenge’s duration in my future attempts. I allowed myself to buy only necessary items. For me these items were gas, rent and the usual amount I spend on groceries. While doing this challenge, I did not allow myself to spend money on anything other than those specific categories.
My No-Spend Week
While a week may not seem like a long time to do something, I promise you, – this was the longest week of my life. While doing this challenge, I realized that most of my grocery budget was being spent on snacks, which is why I felt the need to eat out as often as I did. The groceries I bought in preparation for this challenge allowed me to make actual meals instead of my usual grab-and-go options. This challenge forced me to confront my compulsive spending head-on. I realized how often I would spend money just because I saw a Starbucks on the side of the road and felt that I needed a cake pop at that specific moment.
Before doing this challenge, I was worried about how my social life would change. Normally, when I socialize with my friends it is in a setting where spending money is inherently tied to the activity, such as going out to eat or drink. I let my friends know I was doing this challenge, and they still found ways to see me in ways that were free. We did homework together at the library, cooked in my apartment and more. The time we spent together while I was doing this challenge was special, as it allowed us to be more intentional with how we spent our time together than we had been in the past. It has now been a month since I completed this challenge. Attempting and completing this challenge has made me realize my will to avoid my impulse spending is stronger than I originally thought. Now, I go days without spending unintentionally, as I find myself cooking at home more and ignoring my urge to go to Starbucks every day. This no-spend challenge was difficult but rewarding in every way.