What is the No Spend Challenge and how can you start it?

In our Money Saving Squad group on Facebook, we noticed that a lot of people were taking part in a ‘No Spend Challenge’ and so we thought it would be a good idea to write something about it, so more people could get involved. The goal of the challenge is to rein in how much money you are spending on things you don’t really need. Here’s how it works:

Let us know how you get along!

2 Likes

Worth having a read of Michelle McGagh’s book “My No Spend Year”. It’s both helpful and entertaining.

You’ll find it in Cardiff library if you’re around this way. Getting a library card is a good way to start your no-spend year, BTW…

1 Like

I’d also recommend “Your Money or Your Life” in that context. :slight_smile:
Very good read.

Take my life, I need the money. :raised_hand::raised_back_of_hand:

2 Likes

I’ve been trying to do the No Spend Challenge for a long time - I was aiming for a year of not spending except for the bills etc. But it’s been a bit tricky when I’ve been having problems with my health. I’ve locked my pots and cut up my credit card, so I have no choice now! I’m also going to take the opportunity to have a bit of a declutter and hopefully sell a few things I no longer need :slight_smile:

Have recently done the same. Music Magpie and We Buy Books have taken most of it, which has been really helpful, even if the prices weren’t the best. I could have held out for more, but I just wanted it gone. The lack of stuff has been freeing, but the hard part is stopping things from finding their way back in.

2 Likes

I use Music Magpie all the time to quickly sell old tech. It’s mostly a small collection of Mont Blanc wallets and some luggage which I no longer use - so Music Magpie isn’t an option in that case! None of it seemed to sell on Gumtree, might try Shpock next.

2 Likes