8 Tips To Win a No-Spend Challenge Every Time

Are you thinking about starting a no-spend challenge but worried you might backslide? First of all, the best approach is to take one step at a time. 

Secondly, if you’re reading this post, you’re already a few steps ahead. In this article, I’ll share tips to win a no-spend challenge. These have worked for me, and hopefully, they will for you, too. Some may not apply to you because we all have unique experiences.

However, the bottom line is having a strong why, planning ahead, and finding a way to keep yourself accountable and motivated throughout your no-spend challenge. 

Ready to unlock the secrets of saving money by limiting your expenses? Buckle up!

What Is a No-Spend Challenge?

As the name suggests, a no-spend challenge involves cutting off your expenditures for a specific period. It usually lasts a month, but to gain motivation, you can begin with small steps, like a no-spend day or a no-spend week. 

By now, you might be wondering how you’ll survive the month without spending a single dollar. Well, a no-spend challenge doesn’t necessarily prohibit spending money on essentials. 

You’ll still spend money on basic needs like food, transportation, and shelter but must cut off unnecessary expenditures like your daily coffee, unused subscriptions, and dining out.

It calls for disciplining yourself to spend money only when necessary things, and channel the rest of the funds to your savings, retirement plans, or investments. 

Tips To Win a No-Spend Challenge

Have you started several no-spend challenges but failed for some reason? Or perhaps you’re new to this and wondering how to do it successfully. 

I take no-spend challenges from time to time, and here are some tips that have worked for me and enabled me to develop financial discipline. 

Have a Strong Why 

Like everything else in life, you’ll find it more difficult to stick to a no-spend challenge if you don’t have a strong reason. 

Why do you want to cut unnecessary expenses? Are you saving for a huge purchase or just want to develop discipline around money?

Whichever the case, your WHY should be significant enough to motivate you when you feel like giving up on the challenge. 

When I did my first no-spend challenge, I saved enough to start a small business. 

Whenever I felt like cheating or giving up altogether, I logged into my money market fund app, and the progress of my small daily deposits encouraged me to keep going. 

A strong why is the real first step to winning a no-spend challenge. 

Set Realistic Goals 

Overachieving is excellent, but the best way to start and stick to a new habit is by taking small steps consistently. 

If your unnecessary expenses add up to about $500 monthly, it’s easier to set a goal to save at least half of it during your first no-spend challenge and then increase the amount in the subsequent ones. 

However, you’ll likely fail if you don’t allow yourself time to get used to cutting some things off your life. 

Also, having a goal is essential as it helps to keep you on track, especially when things get hard and you’re tempted to quit. 

For instance, deciding before your challenge to save $300 throughout the month is easier to achieve than just leaving things open. 

If you have a definite target, you can easily quantify your progress and motivate yourself to keep going. 

Have a Budget 

A budget is your best friend if you want to make the most of your no-spend challenge and maximize your savings. 

You need to plan for your money before beginning the no-spend challenge. This way, you can avoid impulse purchases during the challenge. 

Begin by listing all your expenses. Consider taking about a month to track all your expenses so you have an idea of how you spend your money. 

Don’t worry about cutting unnecessary expenses during this period. Simply record everything you purchase, including your splurges. 

Remember that the main aim of the no-spend challenge is cutting unnecessary expenses, but you can’t do that if you don’t know exactly how much you need to cut. 

After tracking your expenses, create a budget for your no-spend challenge period and cut all unnecessary expenditures, depending on your goals. 

Extra Reading: Budgeting Tips for Beginners

Prep Your Meals 

Meal prepping has been a huge game changer for me when it comes to saving money and time. By planning in advance what to eat, you avoid impulse purchases or splurging on dining out.

I usually plan my meals weekly, and this works well for me because I don’t have to think about what to eat every day. 

However, depending on your situation and preference, you can plan and prep your meals for half a week or a whole month. 

Begin by checking your ingredients and trying to pick recipes around them. If you need to do a grocery run, consider purchasing versatile ingredients that you can use to make several dishes. 

From there, plan the meals and find ways to motivate yourself to stick to it. I usually include snacks in my plans to avoid splurging on them later. 

You can take your meal plan a higher notch by preparing the meals in advance and freezing them. 

This helps me stick to my no-spend challenges because when I get home tired, I just take some food from the fridge instead of ordering takeout or going out for dinner.

Track Your Progress 

The best way to motivate yourself to stick to a no-spend challenge is to have a visual reminder of your progress. 

You can add a countdown widget on your phone or computer’s home screen. Some widgets allow you to record how you feel at the end of the day. 

If you prefer to do things the old-fashioned way, using pen and paper, consider keeping a progress calendar somewhere in your house. 

You could have it in your bedroom or kitchen, somewhere you’ll likely see it every morning. 

Pinterest has many printable no-spend challenge calendars. You can also create your own from scratch using a tool like Canva. 

Use Your Gift Cards 

Have you been stacking your gift cards every birthday and holiday? If so, you can maximize them during your no-spend challenge. 

Since it’s free money, you don’t need to use it within the confines of the no-spend challenge. However, remember to stay disciplined and only use the amount on the gift cards.

Alternatively, you can use the gift cards to pay for your essential expenses and maximize your savings during your no-spend challenge. 

You can also sell your gift cards to family and friends to channel the extra cash toward savings or essential expenses. 

Find an Accountability Partner 

The worst thing you can do during a challenge is go through it alone. Well, that’s fine if you’re okay with it, but I tend to do better when I have an accountability partner.

Having a friend to do the no-challenge with makes it easier. We share how we feel throughout the challenge and talk about the temptations we faced and how we handled them. 

Consider finding a friend or family member to do the challenge with you. You can also find someone to check up on you and motivate you; they don’t have to do the challenge. 

Another way to keep yourself accountable is by posting on social media. This way, you’ll feel obligated to update your followers on your progress. Also, engaging with them will keep you motivated.

This is an excellent option if you already share content regularly on social media. Plus, you can start a community and motivate or compete amongst yourselves. 

However, if you’re not active on social media, consider finding an accountability partner among your friends or family. 

Have Fun for Free

Cutting subscriptions and other kinds of entertainment to save money during your no-spend challenge doesn’t mean you must be bored throughout the period. 

You’re more likely to give up if the rules of the challenge make it seem oppressive. The best part is there are numerous fun things to do for free on your no-spend challenge days. 

For instance, if you’ve sacrificed a paid book website, consider getting a membership at your local library so you can access books for free. 

If you’ve given up show subscriptions, consider signing up for free streaming services. You can also pick up new hobbies to stay engaged during this no-spend period. 

During a no-spend challenge, I discovered my love for photography and editing. I don’t use a camera. I just find ways to use my phone’s camera with different settings. 

You can also take the time to explore things like hiking, gaming, and community events. 

Final Thoughts 

Winning a no-spend challenge can be difficult, especially as a beginner, but it’s not impossible. You only have to define your goals and find the best ways to achieve them. 

Hopefully, these tips will help you cut your expenditures and be intentional about spending your money. 

Remember to start small and keep things light; you don’t have to limit everything simultaneously, as this may be overwhelming. 

Instead, consider starting with shorter no-spend periods and then building up to the month-long challenge with time.