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No Spend October

Back to school shopping can really take a toll on your finances.  Then you add the cost of children’s activities in September and it can feel like you are going backwards fast.  October can be a month that helps get you back on track.  No Spend October is one way you can make some serious headway.

What is “No Spend October”?

–       A plan for the money you need to spend

–       And a plan for the money you want to spend

–       A selected number of days you are going to spend money

–       A selected number of days that you are not going to spend any money *other than gas or groceries or utilities on their due date*

You can do this with any month or every month.  No Spend months are mostly about being intentional with how, when and why you are buying things. 

Focusing on a few days during the month (or not during the work week if you are hardcore like my friend Lori!) when you are not going to buy anything, causes you to take a sober second thought about ripping through the drive through for dinner. Do that 3 times and you have saved nearly $100!

Here’s where the fun part begins.

Print off our NO SPEND Calendar and pick the days you plan on spending no money.  Mark them with a heart or a star, something that reminds you which days you need to leave your debit card at home!  Put that on the fridge.  Mark each day with a check mark when you stuck to your plan for that day.

Get your children involved.

It is fun to have them on board with this challenge, plus it adds a whole other layer of accountability!  Kids LOVE a challenge – especially if there is something fun for them at the end.  Get their opinions.  Would they like to go to a movie, maybe a family picnic with ice cream treats, staying up way past their bedtime one Friday night, a special sleepover with their best friend and favourite snacks?  It doesn’t have to be costly to be fun!  This is a great way to learn more about what motivates your children, and teaching them how to manage money is a huge life skill. 

Even the task of bringing your finances to mind in a regular way can create positive change in your financial picture.  The quickest way to feel like you have been given a raise at work, is to keep more of your own money!

You will be surprised how quickly the savings add up, even with picking just one day a week to not purchase anything. 

I would love to hear what kind of rewards your children came up with, or how many days you are planning to spend zero dollars this month.

Start small.  Big things come from tiny things done with consistency.

Xox

Layna

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