Welcome to No More Spending; how we manage our budget as we attempt to pay off our mortgage early, move abroad, and reach Financial Freedom by 2020. You can read more about this site here and subscribe to get all the latest updates sent to you by email or RSS feed here.  Thank you for visiting!

12 January 2010

No Spend Days - What's your view?

I left a comment for a fairly new blogger yesterday and it got me thinking about no spend days and how different people view them.

To me a no spend day is when you don't spend money outside of your essentials budget.

For example; it's Saturday and you need to do your weekly grocery shopping. You have a budget of $40 and you spend $40. You then go home and spend the day relaxing/walking, whatever you like to do. This to me is still a no spend day. If you spent $10 online at Amazon then it's not.

In theory we spend money daily on heat, housing etc. No spend days to me are about not buying non essential items.

No spend days have been a major factor in my getting out of debt, the less you spend, the more you can pay off!

How about you, do you have no spend days?

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8 comments:

  1. Now I find these interesting. I've never been tempted to do them as a method of attacking my debt. (that said I totally appreciate that some people do and they work for them)

    I would say I only buy what is absolutely necessary now and delaying that purchase a day or two just to rack up a no spend day doesn't decrease my spending.

    I stick to budgets and if I haven't got any money, I haven't got any to spend!!

    Thanks for the link to the blog, I'll pop over!
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  2. Thanks for the plug. :)

    I think for the days I designated as no spend last week, I was definitely able to make myself more aware of random spending habits. While I did give in for something I had been shopping around for for quite some time (a want, not a need), my no spend attitude made me genuinely evaluate my motives for the purchase. That's something I've never done before.
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  3. We had a no spend day last Sunday. We normally go out to eat, but the weather was so cozy to just stay in the house, watch TV and hang out in the den (couch potato) or bedroom (bed potato. It was nice to have a whole day of bonding time with husband!
    ReplyDelete
  4. I am doing a No Spend January now and I have changed my view of No Spend. I used to think it was about not spending at all except for essentials like rent and electricity....but the January challenge allows you to spend when you generate. So if you get a refund you can spend that...or if you find money on the ground you can use that too.
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  5. I'm doing a somewhat unintentional No Spend New Year on account of the fact that I blew all my money on a move to a new apartment at the end of December, and I must say it's not as difficult as I thought it would be. Apart from one awkward invitation refusal ("No thanks, I can't afford Thai food, let's just get together for something free this weekend"), it's been a pretty painless process of constantly depriving myself everything but rent, utilities, and [CHEAP] grocery store trips.
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  6. We tried to do a no spend month and it was hard! We definitely failed but it made us realize where we were spending money!
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  7. Yeah I find no spend days to be pretty pointless. They just focus on one day, when you are in debt you need to see the bigger picture, its not what you spend in one day its what you spend per week, per month, per year etc.

    You could have a no spend day and then blow a fiver on a coffee and cake the next or £100 on a handbag the next, so I think a weekly/monthly budget is far better and the way to go and less restrictive.
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  8. I like no spend days and they have truly helped me... I have no spend days on Tuesday, Thursdays, and Sundays. I also have a budget and it has helped me to save a lot of money. I don't make any purchases without planning in advance so the days that I am allowed to spend I don't blow it on coffee and things of that sort.
    ReplyDelete

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