8 reasons why a “no spending month” is good not only for your budget, but also for your life in general

Of course, we’re not talking about not spending any money at all for an entire month. Spending should be limited: everything is prohibited except essential items and services – groceries, utilities, travel, medicines and other things that cannot be avoided. Taboos include eating out, new clothes and shoes if the old ones aren’t worn out yet, entertainment – in general, what you… Well, let’s put it this way: you just want.

It doesn’t have to be a month: Personal finance coaches believe that even a spending-free weekend can reap benefits. There are people on the Internet who talk about how they spent most of the year in “no spending” mode: they usually do this when there is a specific goal – for example, closing credit cards. 30 days is the average duration of “asceticism”, but you can choose any other option.

At first glance, everything is simple: you will save money. This is true, but there are several other bonuses – and no less valuable.

“Financial problems = stress” – we don’t know why scientists decided to prove what is clearly an axiom, but they did: a 2023 study by Sumin Ryu and Lu Fan confirmed that worries about money are harmful to mental health. A “no spending month” usually helps reduce anxiety and stress – that’s already a reason to organize it.

Take advantage of the bonus: you will have to make a choice much less often and decide what is more important: compression socks for varicose veins or new jeans. As psychologists explain, such dilemmas are also a source of stress: the fewer of them in life, the simpler and more enjoyable it will become.

Do you think buying a new biker jacket is fun? Try the “no spending month” and you’ll realize how much dopamine is released when, at the end of the fourth week after your paycheck, almost half remains on the card. (Plus, it would be so cool to fool all those advertisers and marketers, right?)

Shopping takes up mental space – in your head there is always a list of things that need to be bought, and then often installed – sometimes with the help of a specialist. Now everything will be simpler: when you see that the water is no longer flowing so well in the shower head, you will simply say to yourself: “I will do that next month”.

When life is busy, it’s easy to fall into the rabbit hole of soothing shopping and filling your home with things you don’t use. And perhaps in vain: it is almost certain that the books you bought are definitely worth reading and the masks are worth applying to your face.

Let’s say you usually meet your friends at a restaurant on Friday evenings. Now that this kind of entertainment is taboo, you may be wondering, “Okay, what else can I do during this time?” » And, most likely, the new experience will be much more impressive than expected. There are many free events – from lectures to trial dance classes – that will help you get out of the routine of your usual entertainment – although pleasant, but still a routine.

Many people who gave themselves a “no-spend month” then reported that “no-spend” turned out to be a reason to shake out the pantry, freezer, cabinets, and even bathroom shelves. And who knows exactly what you’ll want to cook from an untouched packet of lentil spaghetti that, for some unknown reason, you put in the supermarket basket six months ago?

Lifestyle inflation is an increase in spending when income increases. Simply put, you start spending more to “match” the new status – and as a result, money is spent on things you don’t really need. An unexpected balance on the card after a “month without spending” will help you understand that lifestyle inflation has become a serious problem – and this is the first step in getting rid of it.

When creating a budget, we often turn on autopilot – we simply duplicate expenses again and again, which are often unnecessary for a long time. “A month without spending” highlights such holes – it may turn out, for example, that you have not used certain subscriptions for several months or even years.

Read also: 10+ Easy Ways to Save on Groceries: Tips from Chefs

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