When we add up the small expenses of our day, it can be shocking how much we spend on minor unrecognisable things. But planning for "no spend" days can make a big difference to our wallets.
As the name suggests, "no spend" days are days when we don't spend a cent.
Putting the loose change into a piggy bank can certainly add up over time, but when it comes to saving more than coins found in the sofa, a "no spend" challenge can really amp up the euros. "No spend" days can put the plug in your bank account and stop the money draining away.
Committing to putting the credit card away can be a little tricky at the beginning, until it becomes a rewarding habit, so here are our top tips.
Choose The Right Time
There is no point in challenging yourself with "no spend" days if it's communion season or a holiday is around the corner. If we get our timing wrong, we will lose before we even begin and not tune in to the benefit of giving our wallet a day or two off. So avoid any looming events and plan light spending days after big events.
Know The Non-Negotiables
Rent or mortgage, household bills, and the big shop are all non-negotiables, so these essentials are exempt. However, do your best to avoid stocking up on perishables before the day, as this effectively defeats the purpose.
Plan Your Meals And Shopping List
"No spend" days work great when you don't give yourself little surprises here or there. For example, plan your weekly meals so everything is to hand and you're not running to the shop for a jar of passata unexpectedly. The same goes for your shopping list — prep a list and know exactly what you need for the week.
Considering we can buy at the click of a button these days, avoid temptation by deleting the Amazon app and any other apps you can easily "one-click" to purchase. Delete your credit card details from your browser, and opt out of retail emails that easily convince you to "buy now".
Wait And Think Twice
We've all grown accustomed to popping something into our online basket. If the temptation is strong on a "no spend" day (and any other day, really) before you click to buy, close the website or app, and give yourself a day to think about whether you still need or want it. If it doesn't cross your mind or you can easily do without it, you've saved a bob or two.
"No spend" days are oddly rewarding. No, they don't give you the same sense of instant gratification, but as you see your savings go up or your credit card bill go down, there is a great feeling of satisfaction as you see how well they work!