No Spend Challenge: The Only Money Challenge You'll Ever Need To Take (2024)

Wouldn’t it be nice to pay off debt, become completely debt-free, or heck save six figures! Well, you can, and it all starts with a no-spend challenge.

Having frequent no spend challenges has enabled us to doeverything I just listedand so much more! If you’re looking to save extra money this week, month, or even over a year, this money challenge is a must.

Do you think you have what it takes to say goodbye to bad spending habits and start saving money? If so, let’s get started!

No Spend Challenge: The Only Money Challenge You'll Ever Need To Take (1)

What Is A No-Spend Challenge?

The title pretty muchspeaks for itself! A no-spend money challenge is a challenge where you don’t spend any money (besides essentials if needed) for a given period of time.

We’ve been living a frugal lifestyle for ten years, saving money has always been the name of our game. You name it, we’ve tried it.

Having a no-spend challenge has always been the one thing we’ve been able to fall back on to either dig us out of debt or use it as a tactic to save money for holidays and fun family vacations.

If you want to know how to not spend money, keep following along.

Why Should You Try A No Spend Challenge?

No spend challenges not only work if used correctly, but they are also the key to saving substantial amounts of money!

If you are looking to save money for a special occasion, pay off debt, or whatever it may be a no-spend challenge is exactly what you need.

With little effort, you’ll be uncovering $$ you didn’t even know you had! You don’t always need to make more money to have more money.


No Spend Challenge: The Only Money Challenge You'll Ever Need To Take (2)

Pick A Time Frame For Your No Spend Challenge

The best part about participating in a no spend challenge is that they can be as long or as short as you want them to be.

I recommend starting with a shorter challenge, like a no spend month challenge, just to get your feet wet. Then you’ll know what you’re getting yourself into before participating in a much longer no spend challenge, such as a year without spending.

My personal favorite type of no spend challenge is a no-spend weekend.

What Is A No Spend Weekend?

A no-spend weekend is where you commit to spending absolutely no money for an entire weekend, what I like to call no spend days! If you like short commitments or aren’t ready to commit to something long-term, this is your place to start.

Committing to a no spend weekend usually saves us close to $200!

Crazy, I know.

Think about it: when do you do most of your spending? Yes, during the weekend.

You can use these no spend weekends to save money for unexpected expenses that arise, such as a last-minute trip, or car repairs. Or even to build an emergency fund, or to pay down debt. It’s totally up to you and your money goals.

Last weekend, we decided we’re going to go on a mini weekend getaway in 3 weeks. This wasn’t in our budget, so to make it work, we were going to have two no spend weekends, which will hopefully be enough for a two-night stay in an Airbnb.

If you’re like us and spend a lot of money on small things during the weekend, then a no spend weekend is for you!

Related article: 30 Free Things To Do During A No Spend Weekend

What Is A No Spend Week?

A no spend week is usually 5-7 days long (your personal preference) and is similar to a no spend weekend with a few minor exceptions.

With a no spend week, some type of planning is usually involved. You will have to make sure you have enough food in your home for the week.

You’ll also have to cut all extracurricular activities from your schedule that aren’t free.

What Is A No Spend Month Challenge?

A lot of planning is required to have a successful 30 day no spend challenge.

You will have to survive off of limited funds just to get by.

You will only buy thingsthat you absolutelyneed, not things you want. This can be tough for many of us, but boy will it pay off.

A no-spend month can literally save you hundredsor even thousands of dollars depending on your spending habits.

What Is A No Spend Year?

A no spend year challenge is the most difficult savings challenge, and I wouldn’t recommend it if you are just starting out.

During a no spend year, you will only be spending money on things you absolutely need.

Yes, you have to go a year without buying anything new!

If you can pull off the no spend year, you will reap some amazing financial benefits!

We went all in and did an entire no spend year and were able to save $20,000. I even got a part-time job to increase our savings. In that year, we were able to save enough for an entire down payment on a home.

During a no spend year, you will have to sacrifice a lot, but you will save a lot of money, and that will make it worth it.

How to not spend money for a year tips:

> I get it, a year is a long time! My biggest piece of advice is to celebrate smaller accomplishments along the way if you’re trying to save $10,000. Every time you save $1000 to find an inexpensive way to celebrate.

> Keep track of your spending with a visual tracker. Having a visual tracker that you can look at daily will get you excited about saving.

> Turn saving money into a game with your spouse, family members, or even yourself. During our no spend year, we were continually trying to save more money on groceries than we did the previous month. Whether it’s finding cheap dinner ideas or using the Ibotta app to save on groceries, make saving fun!

Use our link here to sign up for Ibotta! This free app saves you money on your grocery purchases and requires little effort on your part. Use our link to grab your $10 welcome bonus today!

If you enjoy a challenge a year without spending might be exactly what you are looking for.

Related articles:

  • How To Save $1000 In 3 Months With This Simple Money Saving Chart
  • Cut Your Electric Bill In Half (With These 20 Genius Hacks)
  • Living Cheap: How To Live Cheap And Still Thrive

How To Prepare For A No Buy Challenge

No Spend Challenge: The Only Money Challenge You'll Ever Need To Take (3)

Preparation for a no spend challenge is the key to a successful challenge. However,how you preparefor your challenge will vary depending on the length of the challenge you choose.

One key element that every no spend challenge has in common is not spending money.

To be victorious at not spending money, you must determine what “essentials” are actuallyessential. Remember, what I might consider an essential is different than what you think is essential.

What To Cut During A No Spend Challenge?

This is just a small list of things you will need to cut out of your spending during your challenge. Your list will look different depending on whether you are doing a no spend weekend, week, month, or year.

Grab a piece of paper and continue this list.

> Shopping

> Vacations

> Fast Food/ restaurants

> Coffee huts

> New clothes

> Extra activities

Allowed Spending During The Spending Freeze Challenge

What can you spend money on during this challenge? This, too, can fluctuate depending on your needs and how long of a no-buy challenge you are doing.

> Gas for your vehicle

> Paying bills

> Contributing to your mutual funds/ IRA/ 401k

> Toiletries

> Groceries (budgeted amount)

How To Start A No Spend Challenge

Now that you know what you must cut from your spending, it’s time to start the challenge. Follow these actionable steps, and you’ll be on your way to completing your first spending freeze challenge.

1| Goal Setting

Before you start a money-saving challenge. I always recommend figuring out your final goal or your “why.”

WHY are you about to attempt this extreme way of saving? Your goals are going to get you through this challenge.

What is your why?

< Save for a vacation

< Pay off debt

< Build an emergency fund

< Become debt-free

< Pay down your mortgage

More than likely, you already have at least one goal in mind. I recommend writing it down and sticking it somewhere you can see every day.

When you’re having a rough day, you get the urge to buy something fancy you saw online, or you feel like you aren’t saving money fast enough, having a visual reminder of your goal helps immensely.

2| The time frame for your no spend challenge

Once your goal is written down, and you have your expectations set for the money challenge, you need to pick the time frame.

Each money-saving challenge has its pros and cons. I personally have tried and completed all of them, but my favoriteis a no spend weekend.

No Spend Weekend-

Having a no spend weekend is the quickest way to free up some extra cash. If you have a costly event, unplanned bill, or surprise vacation sneak up on you, this is a great way to make some unexpected cash.

A no spend weekend usually doesn’t entail much planning. We spend our no spend weekends at home. Your mortgage is your biggest expense you might as well spend some time in that house you pay for each month.

No Spend Week-

A no spend week requires you to change up your everyday routine, not eating out at work, or stopping for a quick bite to eat on the way home after a long day.

Things start to get a little more challenging with a no spend week!

No Spend Month Rules-

You might be wondering how to stop spending money for 30 days? During a no-spend month, you’ll have to make some lifestyle changes. Completing a month-long challenge will open your eyes to your spending habits.

What I love about a 30 day no spend challenge, isthat it showsyou what you really need in life. Many times we get caught up thinking we have to go out for drinks or buy the latest video game.

Having a no spend month shows you that you can not only survivebut thrive,on less stuff! We are big fans of having less“stuff,” and we know you will be tooonce you try it!

No Spend Year Rules-

Can you go for a year without spending? A year is a long time, but the payout for this type of commitment is huge! You will have to cut out spending of all types, besides the allowed essential listed above.

No spending for a year doesn’t have to be painful unless you make it painful. If you are wondering what to do with no money for an entire year I want to tell you there are plenty of ways to have fun that are FREE!!

3| Make Sure Everyone Is Onboard

Let’s face it; a money freeze isn’t going to work unless your whole family is on board. You and your significant other (if you have one) need to agree on making this no spend challenge work together.

If one of you wants to save money and the other wants to eat out every day, chances are this challenge isn’t going to benefit you.

Tips to get your spouse on board:

< Commit to a goal that will benefit you both

< Start slowly (weekend money challenge)

< Set reasonable limitations that you both can follow

< Show spouse savings progress during the challenge

4| Meal Planning During A Spending Freeze

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Food is usually one of your biggest expenses. Therefore, meal planning is going to become a massive part of your life during your money-saving challenge.

If you’re doing a weekend or a week-long money challenge, we recommend trying to eat what you already have in your pantry. Get creative; make some baked goods.

This is a great technique to save money, but this is also a great way to clean out your cupboards and pantry.

If you’re doing a long-term money-saving challenge and aren’t currently on a meal plan, today is going to be the day you start.

I’ve had the most success with meal planning when I use the $5 meal plan. The $5 meal plan lists out our meals for us, so I know exactly what to buy at the grocery store.

It helps make sure I don’t go over budget.

If something like a $5 meal plan isn’t your thing, you need first to set a budget for your monthly food expenses. Remember, you’re supposed to be cutting back on spending for the duration of this challenge. There won’t be any going out to eat.

If your goal is only to spend $500 on food each month, you can make that happen! Make out your meal plan weekly, head to the grocery store, and don’t leave the store spending more than $125.

Related article: The Best Grocery Store Hacks That Will Help You Save Money On Food

5| Things to do during a no spend challenge

To have an entirely successful money-saving challenge, you should find new ways to entertain yourself, your kids, and your family.

My family and I like to do little micro adventures close to home. Bring a sack lunch and explore new things in your area. It’s incredible what you will find close to home, sometimes it’s things you didn’t even know existed.

Most cities also put on free events throughout the year (especially in the summer). Start taking advantage of these.

If you’re horrible at coming up with inexpensive things to do, here is a great list of 30 free things to do.

6| Not Spending Money

Throughout this challenge, you will come across many items you will want to purchase. It happens to us all.

You come across something on the internet or in a store that imprints itself in your brain, and the next thing you know, you’re purchasing it.

You have to train yourself to say NO. Make sure you follow the guide you created above on allowed expenses.

These money-saving challenges tend to rub off on you. Once you do one, you’ll be hooked.

They have taught us how to be frugal with our money and lifestyle. We now stay away from stores that suck the money from our pockets and spend more time outdoors with family.

Even when we’re doing no spend challenges, we only shop at the mall twice a year! This keeps temptations at bay and our pockets full.

7| What Do You Plan To Do With The Money You Save

Lastly, what do you do with all of this newfound money you’re going to come across? You know all this money you didn’t know you had because you were too busy spending it.

If you are doing a no spend weekend or week, use that money to pay off debt or send it over to your savings so you can use it for whatever you intended it to be for.

Depending on the length of your challenge and the amount you plan to save, I recommend opening a separate savings account, such as a high-interest savings account.

This way, you won’t be able to touch the extra money you’re saving.

8| Track Your Progress

Most importantly track your progress. Watching yourself save money is fun! Especially when you realize you really don’t have to make more money in order to have more money. Make sure to grab our free printable no-spend challenge worksheets so you can track your progress as you go!

No-Spend Challenge: Final Thoughts

If you have yet to try a no spend challenge this is your sign to do so now! Grab my free no-spend worksheets and get started.

If you have any other questions on getting started, feel free to ask them in the comments below. =)

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If you enjoyed this article, make sure to pin it for later and follow us on Pinterest for more money-saving tips! =)

No Spend Challenge: The Only Money Challenge You'll Ever Need To Take (6)

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  • How To Begin Living Below Your Means And Appreciate The Journey
No Spend Challenge: The Only Money Challenge You'll Ever Need To Take (2024)


What is the no spend challenge? ›

So, what exactly is it? It's a personal challenge, typically lasting for 30 days (but sometimes more) where you abstain from spending on nonessential items.

How to succeed at the no spend challenge in Guardian? ›

How to succeed at the 'no-spend' challenge. Get a grip of your outgoings, set a goal and know what you spend on and why. And ask 'do I really need it? '

What is no spend in 2024? ›

January 2024 emerged as No Spend January, when people tried to go the whole month without shopping, eating out or hitting the town. But for others, a weekend or even a day without impulse buying is a victory.

What are the rules for the no buy month? ›

For the no-spend challenge, you pay for essentials only for a set period of time. Thirty days is pretty common, so you might hear it called a no-spend month too. Basically you're covering your Four Walls (food, utilities, shelter and transportation) and other necessities, but you're saying no to all the extras.

How to survive a month with no money? ›

Find free activities to do

There are plenty of things you can do without spending a dime. Go for a walk, organise a game night with friends or family or visit a museum on a free day, so you don't have to spend money. The internet is also filled with resources that can help you find free events in your area.

How to not spend money for 2 weeks? ›

Savings Challenge: 9 Ways To Avoid Spending Money for a Week
  1. Ask Yourself Why You're Doing This Challenge. ...
  2. Plan Ahead for Routine Bills. ...
  3. Think Twice About Grocery Shopping. ...
  4. Change Up Your Routine. ...
  5. Plan for Fun Things To Do With Kids. ...
  6. Host a Potluck Party. ...
  7. Find an Accountability Partner. ...
  8. Be Prepared for an Emergency Expense.
Nov 10, 2023

How to go a year without spending money? ›

How To Do A No-Spend Challenge
  1. Determine Your Goals. Having a goal motivates you when you feel like buying that pair of shoes or eating out that night. ...
  2. Set A Timeline For The Challenge. ...
  3. Establish Your Spending Guidelines. ...
  4. Create A Budget. ...
  5. Plan Meals, Entertainment And Other Activities. ...
  6. Track Your Progress. ...
  7. Don't Give Up.
May 2, 2023

What is a no-buy list? ›

That's the idea behind a "no buy" list. It's a tool for identifying all those things you want to stop buying more of, often because you already have too many similar items you simply don't use. A good no-buy list is not only great for your finances, but it can also be a boon to your storage space!

What would happen if no one spent money for a day? ›

Originally Answered: What would happen if no one in the world spent money for one day? The amount of debt outstanding would rise by the amount of unspent money. So debtors would generally have more interest to pay. The amount of money saved would also rise by that amount.

How to survive a no spend month? ›

How to be Successful in a No-Spend Month, 10 Tips and Tricks
  1. Choose the right month. ...
  2. Research free activities to do in your local area. ...
  3. Put your money away to reduce the temptation. ...
  4. Get your friends and family involved. ...
  5. Remind yourself why you're committing to a no-spend month. ...
  6. Track or monitor progress.
Nov 21, 2022

How to not spend any money? ›

How to Stop Spending Money
  1. Know what you're spending money on. ...
  2. Make your budget work for you. ...
  3. Shop with a goal in mind. ...
  4. Stop spending money at restaurants. ...
  5. Resist sales. ...
  6. Swear off debt. ...
  7. Delay gratification. ...
  8. Challenge yourself to reach your new goals.
Apr 5, 2024

What is the 50 30 20 rule? ›

The 50-30-20 rule recommends putting 50% of your money toward needs, 30% toward wants, and 20% toward savings. The savings category also includes money you will need to realize your future goals.

What is the 7 day rule buying? ›

Whenever you want to purchase something that's not in your budget, you start a 7-day “cooling-off” period. During the following seven days, think about whether you really need to make the purchase and if it's worth it to stray from your budget.

How to start living more frugally? ›

12 Tips for Frugal Living
  1. Choose quality over quantity. ...
  2. Prioritize value over price. ...
  3. Use credit wisely. ...
  4. Declutter regularly. ...
  5. Use a budget to guide your spending. ...
  6. Know the difference between wants and needs. ...
  7. Be a savvy consumer. ...
  8. Prioritize your values.
Oct 17, 2023

What is one year of not buying anything? ›

Reset Consumerist Tendencies During a No-Buy Year

Much like fasting (abstaining from eating food for a specific duration), a no-buy year will help to clear your mind from impulse purchases and the automatic tendency to shop or browse. Fasting from anything reintroduces a better perspective.

How to do a no buy challenge? ›

Join The No-Buy Movement
  1. Choose the influence to remove. Here, you would outline your own rules and approved purchases for your no-buy challenge.
  2. Choose a period of time for your experience. Attempt a day, a week, a month, or a year. ...
  3. Make arrangements. ...
  4. Embrace the discipline. ...
  5. Find meaning in defeat. ...
  6. Re-enter slowly.

What are the rules for no spend January? ›

That means no new clothes, no going out to restaurants and no coffee runs. “I wanted to stop the bleed,” Kaden, who is currently doing her fifth No Spend January, told CNN. “I needed food on the table and to pay my mortgage but I didn't need all of the things I was buying.”

What's the point of money if you can't spend it? ›

There is no point making money if you don't spend it all. If you die with too much money, that means you wasted a lot of energy, time, and nerves. You could have just relaxed more and enjoyed life!

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