How To Do A No Spend Challenge In 5 Steps

Doing a spending freeze is a great way to get your finances in order and evaluate your spending habits.

By restricting yourself to a certain amount of money that you can spend, you can see where your money is going and where you might be able to cut back.

This is your game, and these are your rules.  How long will you play?  Will it be a weekend, month, or year?  What things do you have permission to spend money on?

DECIDE ON THE RULES

Not only are you setting a time goal, but you're also setting a savings goal. Deciding what you'll do with all the money you saved is the most fun out of all the steps.

SET A GOAL

When deciding on your time, look at your calendar and see what's coming up.  Plan accordingly for out-of-town guests, showers, and parties.  

CHECK CALENDAR

Coming up with a plan in case something unexpected happens will set you up for success.   Don't be afraid to rehearse a prewritten script.

MAKE A PLAN

This is a great time to clean out garages, closets, and basements.  Finding something to get rid of will help keep you busy, but you can also sell stuff and MAKE MONEY.

DISTRACT YOURSELF

Swipe Up For More Spending Freeze Tips!