With living expenses and shrinkflation on the rise, we’re all looking for ways to realistically cut costs—whether it’s meal prepping, couponing, or cutting back on so-called luxuries. Some personal finance influencers recommend a “no-spend month,” which is exactly as it sounds: not spending money for an entire month. But how exactly do we differentiate necessities and luxuries? 

Overall, the distinction lies at the decision of the individual. Do we need that iced vanilla latte from our local coffee shop, or do we dust off our Keurigs and break out our milk frothers instead? Do we continue to visit our local thrift store every week or should we get into the habit of repurposing and restyling our beloved closet staples? Here, we’ll cover the rationale, execution, and results to expect once embarking on a no-spend journey. Additionally, I’ll recount my own experiences with a no-spend month and what I took away from it.

Establish Your “Why”

For me, that was sustainability; while I was shopping mainly second-hand, I realized that I was still over-consuming. If clothes had a funky pattern or were an established brand (Reformation, I’m looking at you,) I’d put them in my cart almost reflexively. Once I realized my closet was stuffed with pieces that I never wore or couldn’t match with other pieces, I would end up donating them back to the same place I had purchased them. This is when I knew I needed to make a substantial change. Our rationale, the “why”, should be important to us and grounded in the context of our spending: for example, you wouldn’t vow to cut out Peets Coffee if you never go to Peets Coffee. Make it equally challenging and realistic, and try to be as specific as possible because it will help you rationalize your budget.

Perform a Spending Audit

What did you spend money on last month that could have been avoided? Did you buy a new book you found on BookTok or splurge on one too many happy hour martinis? The goal for a no-spend month is not only to save yourself money for that month specifically, but to assess your spending habits, develop sounder budgeting skills, and be more realistic in your spending choices. Establish your wants versus your needs, as a no-spend month seeks to eliminate unnecessary want-based spending. Obviously, you’ll still need to pay your bills and purchase your groceries, but you don’t need to place a weekly Amazon order or indulge in retail therapy.

This introspection is initially useful for embarking on a no-spend month, but it’ll also change the trajectory of your finances: you’ll likely find yourself pausing before making a purchase or taking time to think (really think) about the utility of the things you’re buying. Will this item be useful to me beyond this purchase? Knowing myself, will I use this item or service as much as I think I will? Mindful spending helps you feel guilt-free when splurging on items you’ve thought rationally about. You’ll be surprised at how much of your spending seems to happen without much thought or future-planning.

How To Maintain Your Life During a No-Spend Month

This is probably the biggest point of contention, and a reason that many people choose to not engage with a no-spend month: it seems like social sabotage. Because the American conceptualization of friendship is around doing and not being, we’re often expected to be doing things with our friends: grabbing drinks, playing mini golf, getting ice cream. A no-spend month challenges you to be creative in your relationships — perhaps instead of getting a meal out with friends, they can come over and you can do arts & crafts while enjoying a gifted bottle of merlot. Instead of a lavish sushi dinner for date night, cook with what you have left over in the fridge and stream your favorite movie series (I highly suggest Twilight every time.) Thinking outside the box will not only help you maintain your no-spend month, but it’ll lay an applicable foundation for your future saving efforts! Plus, getting your friends, family, and partner on board can help spread awareness about no-spend months, empower your loved ones to also take back control of their finances, and ensure that you won’t breach your efforts by surrounding yourself with like-minded people. 

During my no-spend month, I was up front with my friends; I expressed that I couldn’t partake in anything that involved unnecessary spending. They were, to my surprise, exceptionally supportive. We watched sunsets, listened to music, and took walks instead of splurging on restaurants, fast fashion, or anything else we didn’t really need. You would be surprised at how easy no-spends can be if you’re doing it with the right people. Life is just as beautiful when you’re not breaking the bank.

Our Tips for Maintaining a No-Spend Month

1. Look at your subscriptions and memberships. Do you really need all of those streaming services? Do you truthfully go to that gym as much as you say you do? Can you just use YouTube and do at-home workouts instead? Analyzing memberships and subscriptions that no longer suit you or your lifestyle is a big first step in cutting your spending. You’d be surprised with how much of your monthly budget is designated to less-than-fruitful purchases!
2. Inevitably, you’ll be scrolling on Pinterest — you’ll see an outfit, a set of nails, a bathing suit, or a piece of decor that you’ll fall in love with. Instead of immediately placing it in your cart, keep a list (with links) of the items that catch your eye. In a month, you can revisit the list and your judgment won’t be clouded by urgency; you can discern whether it just caught your eye or if it’s something you really want to invest in and use.
3. Teach yourself some skills so you can do the things you love on your own (and for a much lower cost.) Some of our monthly budgets are spent on outsourcing different jobs and obligations, like eating, getting clothes tailored, or paying for convenient services. Invest in a cookbook, teach yourself how to sew or crochet, and plan ahead. If you regularly get your nails, lashes, or eyebrows done, you can teach yourself how to do these services. Of course, a lot of these skills take time, so allow yourself some forgiveness if things aren’t going completely as planned!
4. Tailor each month to your lifestyle. If getting your nails done every three weeks is non-negotiable, then that’s a need for you. Assess the events you have for that month before they occur; this will allow you to save up for bigger purchases such as birthdays, travel, or major gift-giving holidays. Most importantly, these initial audits will help you identify the differences between your needs and wants for that month and influence you to act accordingly.
5. Use free budget templates on apps such as Notion or Google. You’d be amazed with the amount of free materials that are out there to help you and many others become more financially literate (and it makes your spending more concrete.) Getting visuals on what and how much you’re spending makes it much easier to decide the items or services that might have to get cut off from your spending roster.
6. Have some self-compassion. If you break a no-spend goal, don’t be discouraged! We’ve been conditioned to want want want, so a no-spend journey is an active (and difficult) effort. If you spend one day, make sure not to spend the next. Having grace with yourself — your wants, desires, and struggles — will help you remain inspired and excited.

Hopefully, you're feeling inspired to establish your "why" and begin a no-spend journey. Refer back to this article if you ever find you’re a little discouraged or unsure how to start again. We are right here with you!