Experts share how to do a no-spend month, plus the benefits of doing one for your financial and mental health.
ith each passing week, there seems to be a new onslaught of TikTok videos showcasing a recently released “magic” blush, a “life-changing” water bottle, or a pair of leggings you “can’t live without.” The influencers, with their gleeful screams and jaw drops, are quite convincing—youthat product. You might press “add to cart,” but by the time it shows up at your doorstep, the internet has already moved onto the next latest and greatest Amazon find.
She canceled unnecessary subscriptions and got rid of other services she could live without. For nine no-spend months, she purchased nothing outside her regular monthly bills. She paid in cash so she'd be more likely to stick to her weekly budgets. And she also looked at ways to bring in more income.Along with people who are experiencing debt, Dr. Williams says people who make enough money on paper but are finding themselves living paycheck to paycheck can also benefit from a no-spend month.
Her anxiety calmed, and after her first successful no-spend month, Waller felt confident that she could do it again and achieve any financial goal she set with a little time, patience, and discipline. “I definitely began to feel less stressed, more confident, more sure of my finances and what I was spending,” she says. “The stress levels dropped dramatically.
Lyons has found herself focusing on creating unique memories that don’t cost an arm and a leg. She might take her family to the grocery store for a special candy, then have a movie night at home. “We're a lot more intentional about making that quality time together, rather than just like, ‘Oh, we're gonna go spend money at the trampoline park,’ or ‘We're gonna go spend money at all these places,’” she says.
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