Tired of trying hard to strike a balance between incomes and spending? Possibly, both don’t align with each other. You have to think differently to tackle this popular but ever-existing problem.

Throw a no-spend challenge on yourself. By this, you can attempt to bring some change in your spending behaviour. You can effectively use the challenging trick if you are in the process of building some habits.

You can allot specific time duration to follow for this challenge. The time may vary depending on the habits you want to work on. For the no-spend challenge, you can stick to 15 days duration.

However, you can manage the time table according to your convenience. There is no hard and fast rule to follow for this. It is going to be tough to restrict yourself from making purchases if you are an impulsive buyer.

Your determination will make things easy for you. Keep reminding yourself that you have debt as 10000 pound personal loan bad credit to repay within 3 weeks. This challenge is vital for you as it will help you stash money for debt payments.

You would certainly need some solid ideas to continue with this challenge. This guest post will help you figure out the best way to accomplish the goal of no spending to save money for some significant reasons.

How does a ‘no-spend’ challenge work?

It helps eliminate bad habits that are ruining your rapport with your money. There is no problem if you spend within limits. The problem starts when you spend beyond your ability as debts start racking up.

Budgeting can help. But you have to take care of a lot of things. The no-spend challenge prevents you from splurging on non-essential buys.

It can lay the foundation for the ‘spending within a budget’ habit. This challenge does not intend to stop your usual purchases. It focuses on preventing you from making those random purchases that make no sense.

It is an essential step if you look forward to achieving a crucial long term goal. The rules for this challenge will apply to you only. You can add categories accordingly.

You can begin with a shorter duration. Gradually, you can extend it once you gain confidence. But first, segregate your expenses to determine the essential and non-essential expenses.

In this challenge, pay attention to your weakness. It is because you have to work on it. For example, you are obsessed with shoes. You cannot stop yourself from buying a new one every time you visit the shopping mall.

You will struggle in the beginning. But you will pick up once a few days pass by. Slowly, it will turn into a habit.

Useful suggestions that may come in handy in this challenge

Fix up duration carefully

This drastic step is meant to help you witness some behavioural changes in yourself. It mainly focuses on financial habits. Make sure how much you can bear before forcing yourself towards this challenge.

No-spend means you cannot shell out money for luxuries like clothes, shoes, bags etc. Vital payouts will continue meanwhile. It is imperative to set the duration when it ends.

You may feel discouraged in the midway, thinking about when it will end. So, deciding the time boundary is of utmost importance. Above all, you need to be very serious or else beating the target will not be easy.

Decide rules for the challenge

Every challenge follows some rule. The no-spend challenge should have some rules. You must set the rules keeping priorities in mind.

Before initiating the challenge, review your expenses to find vital payouts that you cannot avoid. Keep the negotiable expenses in a different list. This challenge will revolve around it.

You will cheat if you stock up on any items in advance. Doing this will destroy the purpose of taking on the challenge.

Focus on meal preparation

Doing meal preparation means you have to prepare a list of meals for the day that would cover breakfast, lunch and dinner. It will help you shop for groceries according to the dish you will cook for the specific time of the day.

Also, it will prevent you from picking up any random grocery item that you may not need while preparing food. This random picks from the grocery store often result in spending beyond the budget.

Now, you can understand the significance of planning meals. Besides, there will be no food wastage. It is because you will follow a proper format to cook meals. So, there will be no food leftover after a meal.

bring your friends and family to communicate your goals

You may wonder why you would publicise your goals. When you share about the ‘no-spend’ challenge with your relatives and friends, you are accountable to complete it. You cannot leave it in the midway.

It is going to be a prestige issue if you walk out without completing it. You can even motivate yourself in different ways. Create a display board highlighting payment of  bad credit unsecured personal loans with very fast approval with a time limit mentioned on it.

Make spending difficult

You must opt-out of emails sent from shopping sites. Otherwise, they will send you notifications about every sale getting live. All of these could be a significant distraction. So, it would be better if you could keep such notifications away from your eyes.

Wipe off your card details from the online shopping platforms. So, you will have to type in the details every time you will try to shop there. You will feel reluctant to do it over and again. Finally, you will give up for sure.

Keep items you want to buy in the cart for some time. Meanwhile, you will decide if it is necessary or can delete it from the cart.

Avoid window shopping

You often consider window shopping as a time pass thing. At times, this might trigger an interest in you for purchase. Prevent yourself from taking a stroll around your favourite shopping destination.

Don’t accompany any friend who can encourage you on a random shopping venture. Keep distance from such people if you are determined to accomplish your goal.

Question yourself every time you want to spend

Hold yourself responsible for providing valid reasons behind any unplanned shopping. So, every time you have to think of reasons to support this spending behaviour. Gradually, you will feel hesitant as you will have no solid reasons for a brainless shopping idea.

Create your community

You can look for like-minded people who are also struggling with the same issue. You can search for online communities where people are doing this challenge. You will feel encouraged seeing other people giving effort for the same thing you are doing.

You can locate such communities via different social media platforms. Besides, keep your goal firm and clear, and try hard to reach at it.

The bottom line

You might feel disheartened to see monthly bills exceeding your limit. You don’t want to budget as it is not the right time for it. You may be finding a way, which should be convenient, to control your spending behaviour.

The no-spend challenge will let you achieve the same. Just prohibit yourself from spending on unnecessary things. You don’t have to compromise the usual expenses.

This challenge will hold you back from making unplanned purchases that are easily avoidable.

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