Ever completed a No Buy Challenge?
Otherwise called a no spend challenge, the low buy challenge, the no shopping challenge, the spending freeze, or the spending fast?
It sounds like a daunting task.
I thought so too until I did it. It becomes easier the longer you do it. You just have to get started.
Slowly, your habits will change. Your mindset will change. It’s quite refreshing. You realize you’re more capable than you thought.
You also realize that you might be buying things because you think you’ll get happiness from them. But that happiness is short-lived or not actually true happiness.
How do I not spend money every day?
How do I not buy anything?
Here’s my complete no buy challenge 2020 guide – the rules and best practices – to help you successfully complete your no-spend challenge.
What is a no spend challenge/no buy challenge?
It’s when you challenge yourself to not spend any money over a set period of time.
There are many types of no spend challenges. For example, some people allow the spending of necessities like groceries and gas.
Based on your lifestyle and situation, you can decide which type of no spend challenge works best for you.
Why do a no spend challenge?
The no spend challenge can be difficult. The eye opening insights are worth it!
No spend challenges have many benefits including:
- Changing your spending habits to remove impulse purchases (e.g. getting coffee at your local coffee shop)
- Accelerating progress on your financial goals (e.g. early retirement, paying off student loans, saving for a house)
- Opening up your mind and pushing your boundaries (i.e. You make the best use out of the things you already have. It forces you to be resourceful and creative. You understand what’s a real need vs. a want.)
- Learning new skills to avoid paying for things (i.e. You learn how to fix things so you can use them again.)
How do you get started on a no spend challenge?
The hardest thing about a no buy challenge is just getting started.
You might have thoughts about how a no shopping challenge requires a lot of discipline and willpower. It’s not as much as you think. You can tailor your no buy challenge to your lifestyle and needs. You can make it as easy or difficult on yourself as you’d like.
The first thing you have to do is decide what type of no buy challenge you’d like to do.
What are your no spend challenge rules and parameters?
Here are rules you need to determine:
- Allowances: What you’re allowed to spend money on
- Time frame: What’s the time frame of the challenge
We’ll talk about all these factors in more detail below.
If you’re looking for a quick template:
How do you select allowances?
You need to determine what’s a need vs. a want.
An example of a need is “food”. If you want to give yourself less flexibility, you can narrow this down to “groceries” only or “groceries and some restaurants for special occasions”.
Other examples of needs are gas, toiletries, and medical products.
It’s helpful to break down certain categories so you’re not just writing down toiletries. You’re including what specific toiletries are allowed e.g. toilet paper.
You can also note any necessary items that unexpectedly break (although you might want to try to fix these yourself before getting a replacement – this is part of the spirit of the challenge!).
The key is to write down this list of needs.
The more comprehensive, the better. You want this list handy so you can refer to it throughout the challenge. So you know exactly what you can and can’t spend money on during this challenge.
How do you pick a no spend challenge timeline?
There are many timelines you can target depending on your comfort level and financial goals. Here are 4 options.
1. No Spend Weekend Challenge
If you’re just starting out on your savings journey and want to ease yourself into a no spend challenge, you can try it over a weekend.
In this challenge, you’ll most likely focus on activities like:
- Finding free entertainment and activities
- Cooking at home
- Walking around (as opposed to driving)
2. No Spend Week Challenge
This no spending challenge takes it a step further.
No spending for the whole week might involve weekly meal prep. This way you don’t get take-out for lunches or dinners. You make the coffee at work or at home and don’t buy coffee.
3. No Spend Month Challenge
In this no spending challenge, you’re making your no spend actions into habits.
Whenever you want something, you’re asking yourself if you really need it. You’re increasingly deciding to be satisfied with the material items you have and making the best use out of it.
4. No Spend Year Challenge
A “buy nothing year” challenge is a lifestyle change. You’ll have to learn new skills and use creative strategies to get things without spending money.
If traveling is important to you, you might want to focus on economical travel options like camping.
If you love eating out, learn how to cook your favorite dishes during this year without spending.
Something to keep in mind is that this buy nothing for a year challenge goes over major holidays and celebrations like Christmas and birthdays. You’ll have to consider DIY gifts, no gifts, or perhaps give the gift of an experience e.g. take them to a free event or on a hike.
Not buying anything for a year is a difficult challenge to partake in, but it will broaden your outlook on life. You will grow from this in ways you never anticipated.
Which time frame is right for you?
Based on your lifestyle and goals, select a time frame that’s challenging, but not too uncomfortable.
You want to give yourself the best chance at success! If you’re new to frugal living, ease yourself into a weekend challenge. You can slowly work your way up to a week and then a month.
How do you successfully execute a no buy challenge?
How do you live without spending money? Here are tips for how to successfully complete your no spend challenge.
1. Determine WHY you’re doing this no spend challenge
You need a goal to motivate yourself especially when you feel the urge to spend. It might be the goal of saving towards a
- Early retirement!
Put this goal in an area that’s visible like the fridge, white board or the screensaver on your computer. You want to walk by it everyday so you can remind yourself why you’re doing this challenge. Why it’s worth it.
2. Set your no spend challenge rules
Don’t forget to set your no spend challenge rules (i.e. time frame, allowances).
It’s also important to display your allowance list so you can always refer to it.
3. Discuss the no spend challenge with your family and close friends
Your family and friends are your influencers. You want them to be ideally onside. You want supportive people around you. People that are cheering you on.
It can be strange to bring the no buy challenge topic up. You don’t have to make it into a big discussion. Just casually mention that you’re trying this no spend challenge and why you’re doing it.
“Since you asked what’s new with me…As you might know, we’re focusing on <insert your dream goal like buying a house>. We have been exploring creative ways to make this happen. I’m trying out a no buy challenge. Have you heard about it? It’s when you don’t spend money over a certain period of time…”
You might intrigue and/or inspire them. Saving money is a topic we can all relate to. They might also be looking for new ways to cut their expenses.
Alternatively, they might disagree with your decision. If they care about you, they’ll want you to succeed. They’ll know you’re doing this for a greater goal.
On a side note…
What I’ve found is that the no buy challenge is a great reason to say “no” to your friends when they ask you out to dinner or coffee.
It can be very hard to say “no” to your friends because of the fear of missing out…
You can use the no buy challenge as an excuse and then suggest a different activity that doesn’t involve spending money.
There are numerous activities you can do with your friends that don’t cost money like hiking, hanging out at the park or beach, or board game nights. The purpose behind hanging out with your friends is spending time together. You don’t need money to do that.
Here’s an example of how you can communicate this:
“While I’d love to go out to dinner, it’s unfortunately not in the budget for us as we’re saving up for a <insert dream goal>. If you’re interested in going to the beach this weekend, count me in!”
4. Get creative with what you have.
Use what’s in the pantry and the freezer. Cook up those dry beans you’ve had in the pantry for months! This is a great opportunity to clean out your pantry and use foods that you might not even realize are close to expiring.
Here are a few other things you could do:
- Use gift cards you already have
- Use loyalty card points
- Barter with what you own
- Consider trading your time for things you need
You can get really creative once you start looking for alternative solutions other than spending money.
5. Embrace learning new skills
With the no spend challenge, you will inevitably have to learn new skills. It could be cooking meals. Learning how to fix an appliance.
You’ll run into a problem. While you could easily feel frustrated and want a quick fix, view this as a learning opportunity. A chance to grow.
Look up that YouTube video on how to DIY the problem. We’re so lucky to live in a time when there’s so much information readily available online. Use it! Failing is great because you’re still learning!
6. Explore free things
There are so many ways to get free things nowadays. You can use resources like Freecycle, which is a network of over 5000 groups with over 8 million members giving away things for free.
This is probably one of my favorite resources to get free stuff. I got an Ikea bookshelf from Freecycle not too long ago.
There’s also the Buy Nothing Project Group. They operate very similarly to Freecycle.
There are a lot of local Facebook groups with people in your community who are giving away free things. Check out the “buy and sell” (ironically) or “mom” or “dad” groups in your town.
People are often cleaning, moving, or downsizing. They can’t be bothered to list items for sale or host a yard sale. They’ll just put it on the curbside and post an ad in the group saying that there’s free stuff available.
Related: Here’s a post on the many ways to get free furniture. The tips in the post can be used for not just free furniture, but many household goods!
Related: Here’s how to get birthday freebies so you can make the most out of your birthday.
Related: Here’s how to get free baby samples if you’re pregnant and starting to buy baby things. Baby expenses can add up quickly!
7. Cut your expenses
This self-reflection can be a rude awakening, but it’s a necessary step to successfully complete a no buy challenge.
Think about what you’ve purchased over the last year that you didn’t need to buy.
Here’s a list of common purchases I don’t buy or buy infrequently:
- Makeup: I wear minimal to no makeup. If I’m going out, I might touch up my eyebrows and eyes, but I won’t wear foundation, concealer, bronzer etc. It’s not only saved me a lot of money, but I’ve found it’s better for my skin – doesn’t clog my pores.
- Hair supplies: This might seem like an extreme no buy challenge ask, but have you ever heard of the no poo method? It’s when you don’t use shampoo. My 2 year old has NEVER used shampoo. I only wash her hair with water. Her hair looks healthy and smells clean. I know how crazy this might sound. Check out how to get started on the no poo method so you can assess if this works for you.
- Hair cuts: My husband and I cut each other’s hair. For my hair, we just watched a couple of YouTube videos. For his hair, we use clippers and this hair cutting cloak we got (to help with easy cleaning).
- Razors or shaving cream: I use my husband’s Philips electric shaver. I don’t use shaving cream. He’s had this shaver for over 15 years.
If you’re looking for more inspiration on how to not buy things, here’s an extensive list of things I stopped buying to save money everyday.
8. Hide credit cards
I’m a big fan of credit cards because of the credit card points.
If you feel like you’re the type of people who’s often tempted to buy things, take your credit card away. With the ease of using credit cards, you can easily buy unnecessary things and spend money beyond your means.
You know yourself best. If you feel like you can’t control your spending habits, hide the credit cards and just use cash.
9. Remove any distracting activities that encourage shopping
- Don’t visit the mall
- Don’t do any online window shopping
- Unsubscribe from emails that send you the latest sales
- Don’t browse on sites with the latest fashion trends or technology products
- Avoid tuning in on the ads when watching TV or listening to the radio (These are designed to make you spend money!)
Replace that time you usually spend shopping with a hobby that’s NOT about spending money.
I used to browse deal sites on a regular basis.
When I stopped doing that, I started reading a lot. That’s actually what led to starting this blog. I love blogging! It challenges me. I learn new things everyday. It’s one of the most rewarding things I’ve ever done.
I also used to spend a lot of money on activities with family and friends.
I realized there are so many free ways to spend time with your family like playing board games you already have or watching movies from the library.
If you know you’ll be meeting with friends during the no spend challenge, plan ahead. Suggest free activities like play dates at the house or the park, or going to a free event in town.
10. Thoroughly assess whether you need to buy an item
If you feel like you really need something and it’s not on your pre-approved list of needs (on your no spend challenge rules), than ask yourself these questions:
1. Did you need it yesterday? This will help you determine if it’s a true necessity.
2. Are you getting the best deal by purchasing it today? If not, wait until the right time, which might be Black Friday.
3. Can you wait until after the no spend challenge to purchase it?
To get it off your mind, you can write it down.
After the no spend challenge, bring up the list of items you wanted to purchase and see if you still want those items. Odds are, you’ll have found a solution to the problem. Or you realized you didn’t need it as badly as you thought you did.
4. What are you actually getting out of this item?
- Are you getting short-term happiness? Is it meaningful happiness?
- Are you buying something because it’s trending? Perhaps it’s associated with an ideal image? Often we buy things to satisfy an immediate need or because it represents something we want to become.
There’s nothing wrong with buying things because it makes you feel good. It’s good to be cognizant of your true motivation for buying and explore if there is another way to feel joyful.
5. How else can you solve this problem? Can you borrow the item? Can you get it for free? Can you get it used?
What do you do AFTER the no spend challenge ends?
Congratulate yourself! Not buying anything new for a certain period is not easy. Pat yourself on the back for a job well done.
Now before you start reverting back to old habits, it’s time to reflect.
- How much money have you saved during that period?
- What have you learned?
- What new habits do you want to incorporate into your routine?
- When do you want to do your NEXT no spend challenge?
While no spend challenges are great tools to amp up your savings in a short period of time, it’s the growth and development during that period that’s going to result in massive savings in the long-term.
Just think about how saving a $5 coffee/day * 5 days a week * 52 weeks in a year *10 years = $13,000! And that’s just for 10 years! If you do that for 30 years, that’s $39,000 you’re saving.
What if you can’t do a no spend challenge, but STILL want to save money?
Here are the best resources for saving money:
Rakuten (formerly Ebates) is great because you can get up to 40% back for shopping online at over 2500 stores – many of which you would normally shop at like Amazon, eBay, Macy’s, Kohl’s, Walmart etc. It’s FREE to sign up.
For U.S. residents, Rakuten will give you a welcome bonus of $10 after making your first online purchase of $25 or more. For Canadians, it’s a $5 welcome bonus for signing up. You can read more about how to use Rakuten here!
Checkout51 is an app that gives you cash back for your groceries!
If you purchase any groceries on their list (which sometimes includes everyday essentials like bananas), you can snap a picture of your receipt on your app (they make it super easy). The approval takes roughly a few days and then cha-ching – you’ll get money in your Checkout51 account!
$5 meal plan
If you spend hours meal planning every week only to stress out some days and eat out, you might be interested in the $5 meal plan. For $5/month, they send you a weekly meal plan where every meal will cost approximately $2/person! They save you time and money so that you can focus on doing things you enjoy like hanging with your kid!
They offer a 14 day FREE trial (approximately 40 recipes) – regular or gluten-free – that you can cancel at any time with no questions asked.
This membership has 2 great benefits: free 2 day shipping and free access to movies, TV shows, music and books. You no longer have to worry about last minute items. You can cancel your other movie, music and book subscription services. You can also get 20% off diapers and baby food when you have more than 5 subscriptions.
Get the Amazon 30 day FREE trial here. You can cancel at anytime. No questions asked.
Related Money Saving Articles:
- 18 Things I stopped buying to save $1000’s
- 11 Simple ways to decrease your groceries costs by 50%!
- 60+ Easy ways to reduce your home utilities costs
- How to plan a wedding on a tight budget
- Get FREE Starbucks Gift Cards and Drinks using these 9 Clever Tips
- Saving Money Challenges: 18 Interesting Ideas to Save More
- 49 Best Birthday Freebies
- Best At Home Date Night Ideas
- Websites, Apps and Other Ways to get FREE furniture Today
What if you’ve already MAXED your savings? What can you do now?
The reality is that there’s only so much money you can save.
At some point, you need to shift your focus to making money.
Here are some easy ways to make money:
If you want to earn a little bit of side cash quickly and easily each day, here’s a list of other legitimate survey companies I’ve tried and liked:
- Swagbucks: This site also offers ways to earn gift cards and cash for searching the internet, shopping online, watching videos, and playing games.
- Survey Club
- Survey Junkie (Only in U.S., Canada and Australia)
Become a Mystery Shopper
Mystery shopping is a fun way to make money fast while getting paid to go shopping.
BestMark is a legit company offering mystery shops in the U.S. and Canada. They pay cash for doing a mystery shop in person or over the phone or online. Some of their mystery shops involve getting your car’s oil changed or having a meal at a restaurant. You would get paid for things you would normally do anyways!
You don’t need any experience. BestMark doesn’t require you to take a minimum number of shops each month. BestMark also has a referral program. You can earn extra cash for people you refer who sign up and perform a shop.
Sell your skills through Fiverr
Whatever your skill or service is, you can often sell it through Fiverr. I’ve seen people sell photos of their kid holding a sign up that says Happy Birthday for $5. I’ve seen video testimonials of products for $5. Digital services often do well here like graphic design, marketing, writing, translation, video, music, or programming.
There’s also Fiverr Pro, which is a top quality, vetted pool of professionals offering all types of services. I’ve heard the key to doing really well on Fiverr is to make your work automated. Set up a template that can be easily executed.
Here’s a list of other ways to make $100 fast.
To add a consistent income source, check out this article on flexible work from home jobs you can easily add to your regular 9-5.
Related Making Extra Money Articles:
- How to make up to $100/hour as a Virtual Assistant – an in demand job!
- How we saved $30,000: 12 best money saving tips
- How to host a swap party and shop for FREE
- How to Create a Minimalist Wardrobe and Save Money
- How to Start a Budget You’ll Actually Stick With
- EyeBuyDirect Review: How to Buy Cheap Eyeglasses Online
- Best Cheap Food When On A Budget
Final thoughts on the No Buy Challenge
The no buy challenge is an eye opening exercise everyone should do to stretch their income a little further.
If you’re interested in other unique ways to optimize your savings, here’s a post on other money saving challenges.
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