I like to say that I'm good with money. I've made it through a pandemic and kept a roof over my head and a car in my parking spot, but am I really good with money? For the most part, I have been able to avoid the temptation of buying new clothes and fast food every day even when I could afford it, yet I was still frustrated by the amount of recycling that piles up from packaging. My bathroom cabinets are always overflowing with shea butters and scrubs that I couldn't resist buying from other Black business owners and even my fridge was having trouble keeping up with the number of groceries I like to buy to feel "safe", so I challenged myself to not spend. Not a single dime for several days!
Even though some of my favorite businesses had a sale, I realized that the sales would always be there. I was only feeding myself, yet I felt compelled to trek to the grocery store every week just to save a couple of cents on one item. Sales promotions are a beast that we have to just ignore and buy whenever it's convenient for us. I'm on day 11 of no new groceries, and I've learned to get creative with my meals and use what's in the fridge. No Spend Challenges can be daunting, but here are some tips to survive!
#1 Shop ahead of Time
You ever go to the grocery store for one thing and leave with several? Yea, me too! I do get around to eating almost everything, but there are some things, that I pick up on impulse whether it's something healthy like Honeycrisp apples or complete trash like Mint Chocolate cookies, it's an unexpected expense, so I planned my no spend challenges around my grocery trips. I buy enough food for the next two weeks, so I won't have an excuse to run to the store for something minor. In the future, I would like to expand my No Spend Challenges to an entire month, which can be difficult with a bi-weekly produce box that comes in, but most bloggers do incorporate 1-2 grocery shopping trips within their NSC. If you're like me and food is your biggest expense, consider limiting your grocery store trips.
#2 Put Items in your Cart
Huh? Yes! Even though you are on a No Spend Challenge, I do encourage window shopping. This can be a difficult exercise, and it's certainly not for everybody, but I do it because it helps me budget for after the challenge. Think of how long it takes for you to complete a purchase online. Some people only spend 30 minutes on a website and have a cart full of things that are purchased in a quick 30 seconds thanks to PayPal One-Touch or the convenience of having your card on file with the company. Well, why not wait on the item for 2 weeks? If you have the item in your cart, chances are, you will get a coupon from the company within a few days begging you to buy it. (Stay strong til the end of the NSC, though!) which could save you the money! Plus, you will realize that after two weeks, you may not want that item, which will save you money, and that's less to packaging that you are responsible for disposing of.
#3 Give yourself Grace
I encourage you not to beat yourself up if you slip up during your NSC because we all make mistakes and unexpected bills come up at the worst times. Maybe your friends that you haven't seen in months want you to come out for drinks, or you had to make an unexpected drive that emptied your tank? The joy of not spending every day means you have money for those expenses. Let's say you went 10 days without buying your breakfast at a fast food place. If breakfast was about $6, then you have an extra $60 that can refill your tank after the unexpected trip or $60 to go towards towing after catching a flat. Yes, you did still spend the money, but at least you had it for the emergency.
#4 Let your friends know!
You would be surprised at the way friends are able to shift plans especially when they end up saving money! Tell your friends that you are trying not to spend money when you're hanging out, then offer to do something free in town, or just hang out at their place. Look around your kitchen and see amazing finger foods to make or even bring fresh produce as a snack. Being thrifty is all about creativity!
#5 Create Penalties
Sometimes I hear people get mad about the presidential debate because both Trump and Biden talked over each other. Everyone said that Chris Wallace was a poor moderator, but I blamed the hosts for not having a penalty for debate violations. Time wasn't taken away, and fines weren't imposed, so the candidates didn't feel like there were any repercussions for talking over each other. If you spend money during your NSC, how will you pay? Maybe, you can leave your cards at home and only pay in cash, so you can see your money dwindle from your purchases. Or you match your purchases in savings or donations. In the spirit of Jay-Z, "If you can't buy it twice, then you can't afford it!" Telling your friends could help because they could always put robes on and ring bells at you, yelling out "SHAME!" You'll have to get creative to find ways to impose penalties that work for you. You might even be the type to reset the challenge back to Day 1 for slipping up. Whatever works for you, don't be afraid to stick to it!
#6 Read Refinery29's Money Diaries
How did I find Money Diaries? I was spending far too much time on LinkedIn during Quarantine and before I knew it, I was up all night reading about how people of different incomes and backgrounds spent their money for a week. For someone who infrequently eats fast food and tries to avoid online shopping, I was intrigued by both the unexpected and expected expenses! (People were really dropping $5,000 for a flight to London, so their bae could watch a football game!) This helps me think about expenses I could avoid, and they also help one become more aware of their money. Perhaps, this NSC will be a time where you write down times where you would've spent money, or you can look back on your bank transactions and ask yourself the story behind them. Was that $96.37 something you ate, or is it the reason you have clear skin right now? The goal of Money Diaries is to encourage you to think about every single dollar and have an honest conversation with yourself and others. If you're constantly going out to eat with friends who make twice as much as you, why don't you ask to go to cheaper places or save money during the week to afford to pay the tab without silent prayers that the card goes through? Being conscious of your money, helps you make better decisions in the long run.
Trying not to spend is hard because marketers are sly foxes that use your browser history and location to create ads that speak directly to you. Avoiding social media may be helpful, but just be smarter than the sponsored ads. Whatever item you want, if it's yours then it will be waiting for you at the end of the challenge. If not, then there's a new challenge to find the thing that you held off on buying! I would love to hear more about your experiences with No Spend Challenges! Feel free to comment about your experiences and struggles below!
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