If you are a personal finance blogger are a personal finance blog reader, then I am sure you have heard of the term “no spend days.” Some don’t understand what this means, whereas others don’t think that they actually save you any money.
Well, today we are here to talk all about no spend days. Sit back and enjoy this super exciting post 😛
So, what is a no spend day?
A no spend day is where you make a promise to yourself to not spend money. Certain things like housing, utilities and other “needs” are already budgeted in and for the most part do not count. However, little things like clothing purchases, Starbucks, treats, and so on are not allowed to be bought if you are in a no spend challenge.
No Spend Days Can Stop You From Going To The Store.
If you have a spending problem, then implementing a no spend policy in your life can really help you out. Sometimes all you need to prevent yourself from spending extra money is just a rule in your life to completely avoid stores altogether.
Also, a no spend policy can help you create a list and stick to it, because you won’t have to go to the store all the time and buy other random things that you throw into your cart that you don’t actually need.
If all you do is spend aimlessly when you go to the store, then having a no spend policy can help you cut back.
No Spend Days Help You Analyze Each Purchase.
If you are thinking “Well, all a no spend policy does is make a person spend money on a different day.”
While that sometimes may be true, for the most part it is not. If you have to think about each and every single purchase, then you will really start to think in your life about whether purchases are worthwhile or not. You will analyze each purchase, I promise!
If you have to wait a few days to buy something, then you may come to the realization that you can actually do without the item because you do not actually need it.
You will start thinking about whether or not you need every little purchase and whether you should be “rewarding” yourself with material rewards.
Do you take part in no spend days? Why or why not?
Image via Flickr by TaxCredits.net