So I start my new job in 2 weeks. Until then I’m living off my own money, which is why I think it’s a good time to try the no spend challenge.
I’ve been trying to cut down my spending over the last 6-9months with slow progress. I have cut down my spending a little and I have improved in that the things I buy are not completely useless. Even with clothes I only keep the items I really love and return everything else.
The rules I’ve set up for myself during this challenge are:
- No frivolous spending e.g. unnecessary things – mainly clothes, bags, shoes, homewares, decor, kitchenware, gadgets, etc
- No spending on takeaway food
- No spending on desserts when eating out
- No coffees, smoothies, juices, etc
What I can spend on:
- Necessities e.g. rent, bills, groceries, transport, petrol, medication, etc
- Experiences e.g. going out with friends, dinners out, brunch, museums, outdoor activities, etc
I know a lot of people who have done the no spend challenge also included going out as part of the challenge, but that’s just not something I wanted to include in mine. This is mostly because I think experiences are worth spending money, time and effort on. These are the things that I’ll remember when I’m old and these are the things that help me spend more time with people that I love.
Also, I don’t go out that often and when I go out I never drink, which means I don’t spend much money anyway.
I’ll make weekly updates on my progress. Hopefully I’ll manage to save some money.