The Why, How, and When of a No Spend Challenge

 The Why, How, and When of a No Spend Challenge

The holidays are all about overabundance. We buy too much, consume too much and – despite our best efforts – spend far too much money. But there is a solution, and it’s this: A No Spend Challenge.

A practical first step toward adopting a lifestyle rooted in sustainable minimalism is to hop off the consumerist bandwagon, at least for a little while. A month-long shopping ban—also known as a no spend challenge—provides an incremental opportunity to assess your spending habits.

While no-spend challenges aren’t new, proponents argue that a month-long shopping ban provides many benefits, including the following:

• They allow you to get serious about your finances and perhaps meet a savings goal.
• They reacquaint you with hobbies you have been neglecting.
• They highlight the differences between wants versus needs.
• They encourage you to slow down and spend quality time with loved ones.
• They retrain your brain to desire less. 

January is the perfect month to hibernate, so to speak. It’s just the right time to tackle that project you have been meaning to get to in your home, explore the wonder of recreational activities that don’t cost a cent, and recenter yourself with gratitude for what you already have.

On this week’s episode, my right-hand woman Julie Winpisinger describes the why and how of a no spend challenges so that you can confidently embark on a month of intentionally NOT SPENDING on unneeded, unnecessary purchases.

Happy listening!

* Want more episodes like this one? Check out #071: Conscious Consumerism for Real People.

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