I
have had over 50 No Spend Days this year so far! I set myself the
challenge of having 100 No Spend Days in 2012,
so I am currently ahead of schedule. I am due to move to Uni in
autumn though and I think it's better to get as many as possible out
of the way before I go!
So
what have I learned so far?
The
good
The
Boyfriend said that I would probably just roll lots of spending
into one day, so no spend days would not save any money. This
is not the case. I find that I
don't
spend more than normal on a “spend day”.
I
find this challenge stops me spending little bits here and there. If
I am having a No Spend Day, it's not worth losing it for an ice cream
or a drink. It
stops the drip drip drip of unconscious spending.
The
bad
I
have found that spending money is quite addictive. Even buying
diesel can be quite exciting! I bet no-one else gets that excited
about swiping their debit card! I
think it's because it makes you feel rich.
If
you have a few spend days in a row, it's hard to break the pattern.
You feel drawn back into consumerism.
I
need to turn this feeling around. Spending money makes me feel
rich, but NOT spending money makes you ACTUALLY rich(er)!
The
breakdown of my No Spend Days is as follows:
- January – 13
- February – 14
- March – 10
- April – 11
- May (so far) – 6 of a possible 14 ( target is 14 for the month)
As
you can see, since I was approaching and achieved being debt free in March
I seemed to spend more often. I have set myself a target for May to
get back on track and have 14 No Spend Days.
Who
would benefit from No Spend Days?
The
value of No Spend Days is debated a lot online. Do they encourage
people to spend less, or simply group a lot of spending into a few
days?
I
would say they are good for those who fall victim to the “latte
factor”, a phase invented by David Bach to describe the little
things you spend money on daily. The example he gives is a latte on
the way to work in the morning, but it could be any unnecessary
purchase from a newspaper to buying lunches. If you just bring
your own coffee/lunch from home a few days a week you could save a
bundle, racking up a No Spend Day in the process!
Then
again, as Laura Vanderkam said, perhaps
these Latte Factor Victims spend a lot less on rent so that they can
afford little luxuries like this!
Do
you keep track of No Spend Days? Do
you think they are a useful tool in a frugal lifestyle?
6 comments:
I find it easier no to keep track of the days I do spend. Have had about 5 spend days this month.
I think I really need to adopt this no spend day thing. I have a habit of buying odd bits and pieces that if I really stopped and thought about for a second, I would realise I just don’t need.
A good example is food when I’m out and about. If I just thought to eat before I left or take my own drink I think I’d be a lot better off. Added up all my ‘little’ spends out and about over the last month and it came to around £20.00. Money I could have used to buy odd books I want and keep saying I have no money for.
Good idea, and keep up the good work!
Having no spend days can help you control yourself into making yourself a one-day millionaire. Till the day you'll be making it as a normal habit, keep on doing no spend days. I know how you feel on getting a bit addicted to spending even on the most unnecessary things. Anyone can actually relate to that I guess.
It's easier to have no spend days if you live in a village and only venture into town now and again. We have a village shop but I have weaned myself away from popping in there. At one time I was always buying a mag and chocolate, because it was handy, now I never go in.
naah unfortunately i seem to look at it retrospectively more often that not :( i.e. "did i spend anything today?"
I think I can fix this by bringing my own biscuits to work, many a no-spend day has been foiled by buying something to go with my cup of tea or coffee (which is for free at least!)
naah unfortunately i seem to look at it retrospectively more often that not :( i.e. "did i spend anything today?"
I think I can fix this by bringing my own biscuits to work, many a no-spend day has been foiled by buying something to go with my cup of tea or coffee (which is for free at least!)
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