NoSpend November: How I reformed my spending.
This is a guest post by Sox, and I think this it's BRILLIANT!Some of you might not remember, but giving up 'shopping' for Lent myself 2 years ago REALLY put things into perspective. I learned that it is actually possible to not step into stores every other day ;) Plus, you really do save a ton of money. Hope you enjoy this:
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I came across your site today and thought I would share an idea that I've been doing for several years now. It started out as a 'Lent' type thing where I didn't spend money for 40 days. Now I just do NoSpend November. I take a month and 'fast' on spending. It's not easy, but it's quite helpful in many ways.
Each time I've done this I have actually made between 50 and 200 dollars. Combine that with the money I didn't spend, and the fact that I reformed my spending, it can have a big impact financially. Best of all, next month you'll have a lower credit card bill. Here are my rules:
Unless otherwise indicated you can't spend any expected income.
- Salary
- Wages
- Rent owed
- Established court settlements
- Alimony
- Cash on hand
- Gift cards
- You can't buy gas on the day before it starts unless you need it.
- No loading up on extra food. If you're low on milk that's ok, but you can't buy a dozen frozen dinners
- Credit card purchases from previous months
- Medical prescriptions
- Mortgage/rent
- Utilities
- Cell phone
- Owed lunches/dinners
- Money
- Take someone to court (hah!)
- Stuff that was borrowed
- Selling on Craigslist/eBay
- Returning things to Home Depot/Lowes (easy to find for any home owner)
- Unused gift cards
- Credit card cash back checks/ gift cards
- Medical reimbursement
So if you submit a reimbursement for medical expenses, or sell something online, you can't spend money in anticipation of getting it. If you submit it and you don't get anything sent to you that month... tough noogies. If you find out someone owes you money, you have to wait until they hand it to you.
Gambling is allowed with any eligible money (but I don't recommend that) .
You can consume anything that you already have.
- Food
- Toiletries
- Fuel (hard for those that are big commuters)
- Make dinner for someone with your own food, get someone to take you out for dinner
- Help someone out with a chore, get food or something else (not money) in return
- Sell anything you receive by doing chores for others
- Sell anything that was borrowed and then returned to you
- Sell anything for profit that you buy that month with eligible money
- Reduce excess crap in your pantry
- Eliminate items you shouldn't have bought
- Get evened out on things that people owe you
- Get in better shape from walking instead of driving
- Hang out with friends more
- Lose weight by eating more frugally (saving and eating leftovers)
- Eat healthier by cooking your own food
- Best of all, next month you'll have a lower credit card bill.
Big thanks to Sox for sharing his thoughts! You can track his progress over at No Spend November.
Labels: awesomely awesome, guest post, money hacks, saving
posted by J. Money at
7:37 AM
23 Comments:
Thanks so much for posting this! I wish I had a comment page on my site but alas not yet :(
I think if I shared this with my husband, he'd make me do it...Very admirable work, Sox!
I LOVE this idea. I am going to make a commitment to do this 1/1/10 for the whole month. I'll report back and let you know how I did. Do I understand this correctly - you can NOT buy groceries and just live on what you have? That is my only question I need answered before I start. Thanks for the post and by the way I LOVE your site:)
BargainAddict
Sharon
If you have groceries, you can eat those.
You can NOT stockpile, for example if you go out the week before and buy enough stuff to eat so that you last through the whole month.
If you need groceries (or anything else for that matter, you can buy them IF you have generated some money for yourself that month. See the rule about -Anything that you sell or get refunded must be spent *after* you get the money back- not before, or an anticipation of getting it.
I'll make a questions page to clarify things... but just remember, you can make the rules whatever you want. These are just the one's I did for myself :)
Sounds like a good concept but would not work for most, especially someone like me in my mid 20's. I have about a 13 mile commute, too much for walking or biking so I need to drive, and metro/bus actually comes out to be more money than driving. Plus I like having a social life which at times requires spending money. Sure I can limit spending but a no spend is not possible unless I sit on my ass and do nothing.
It's a great idea, Sox, I have done a similar thing myself, also for Lent.
And if I may, Craig, (above me) the commute thing in your case is necessary spending, so for you, that would have to be in your rules as an exception. As to the social thing, like you say "I like having a social life.... not possible unless I sit on my ass and do nothing." This is not a death sentence. If you think you can't have a social life without spending money, I can't help ya. I live in NYC... if I can do it, you can. And here, just to step out the door every day costs money. For one month, particularly because you think this is "impossible" I think you should just 'see'. Might be a revelation! :)
Good stuff Pete! I love these challenges, and finished my own challenge of not spending anything on "junk" or unneccessary items starting Sept 1.
It was my "Samurai September" which actually lasted for 61 days! I saved about $20,000 as a result, b/c I also actively sold things to simplify my surroundings.
Glad the baton is being passed to you, and we should pass it along to everybody for a no spend month EVERY MONTH!
FS
I am just trying to understand the groceries part.If we cannot stockpile the month before then that means I need to give up eating fresh fruits for a month..what about bread? Not sure how this works. Plus, I have tried to sell stuff on ebay etc but not gotten anything...so I can't get more food until something sells?
Doable for me except for the gas and the groceries. Eating healthy sometimes means I need to have fresh food in the house. Veggies and bread don't last that long! And making money to spend it on this stuff would be difficult, unless we had items that actually sold on eBay/Craigslist. But it's worth a try!
I'll say this,
If I was a more frugal spender through the rest of the year this would be much harder for me. I wouldn't have bought the unnecessary things that I sell, I'd eat all the food I had in my home as I bought it. I'd turned in my receipts for medical reimbursements as they came in etc.
Here's some tips for 'getting food'
- Use the food you already have to make meals for others. This will result in them owing you food. You can have them bring you things to contribute as well. I have leftover burger and hotdog buns from a cook out in which I provided meat that was in my freezer.
- Cook for others with their food. I am considering making some apple pies soon. If I do I'll likely use my lard, flour, sugar, cinnamon and vinegar, and ask someone else to provide the apples.
- Have a party. Host a party and ask others to bring things while you provide the entertainment (movies, games, watching the cat attack a laser pointer).
- Make things from scratch. I have some good recipes for bread, pastries.
That's just a few ideas. Check out the webpage and you can see what else I've been up to this month so far. I think you'll agree that so far it's been a fun time with good food all around.
It's an interesting idea, but I don't think that I would/could do it at this point in my life - but maybe next year!
I'm really thinking about doing this myself soon....after Xmas ;) I just like the whole challenge part of it - it's so hard at first!! But if you can make it through it really is an accomplishment. And since it's only for 1 month, you have that finish line right in front of you the whole time so it's not like it's forever. But, if you allow me to be cheesy here, the "lessons" last a lifetime! Haha...Or at least a few months ;)
Thanks again Sox! Esp for the commenting back to people too, I love that.
I think it is a great concept if you are single or maybe with significant other. But a family of four would have a tougher time. Of course, I am always up for a good challenge!
And then there is Small Notebook that can handle a no spend month with her family. Not sure of her terms.
Okay, I'm just pessimistic... a family could do this task. Foot in mouth. lol.
Tis a great challenge. And much to inspire!
Thanks everyone for your comments. It's really not easy to do but it's a great way to fast your spending and really remember what you can do in your life without spending money. It's not meant to be a burden, just a reminder of what you can accomplish if you really want to. I hope that folks remember, the rules above are just some I came up with for me... make your own rules, make your own challenge.
And thanks again J for letting me share with your site!
Thanks for posting this idea - it provided for an interesting conversation between my younger sister and me :-) We are currently in the middle of a basement renovation, but I'd love to do this in January. Maybe there could be a support group for all of us wanting to do this as a New Year resolution that month?
I'm totally up for the challenge, Sox! I'm going to have a No-Spend January and I'll encourage my readers to do the same! Thanks for your inspiration!
Ooooh cool idea! I like the sound of a no-spend January w/ support group. It looks like we now have BudgetBabe doing it, perhaps we'll do it here too in Jan? We could all link up and share how it's going throughout the month...I'll add it to the list :)
Sign me up for no spend January (I guess)....although I am telling you guys and gals now that I will need LOTS of support.
One question....will my CVS spending count as part of the no spend? I am currently using the extra bucks that I have to buy things that earn more extra bucks. I also have a gift card that I use so I am not spending any money from my budget..jut the gift card and rolling the ECBs.
Woohoo! We'd back you up LuLu, no worries. I say it's best for you to determine if you want to use them or not since we're all in different boats and this is a personal challenge :) The rules that Sox goes by has a "NO spending of already existing money in your possession." which would mean your giftcard, but you don't have to keep with that if you think it's bad for you.
I say you write out (and post on your blog!) your own set of rules to hold yourself accountable :) We could all do that actually in Jan if it helped each other?
I just stumbled across this and I too am in for January...eek!
Lulu,
If it were me I'd say that you could spend any money that you accrue on the extra bucks in that month, but not more. Like J said, this was my challenge for myself :) so do whatever you'd like!
I'm really excited to see how folks do on the months that they take off :)
Ok, well since the ECBs roll and generate new ones then I guess it counts as generating money for the month..too bad I don't get groceries at CVS because then I would be all set. *rubs hands together*
Just in case you guys and gals wonder why I don't buy body wash or toothpaste in January it is coz I already have TONS left over from previous CVS trips...so that does not count as stockpiling for January.
Ready?
Set?
No spend!!!!!!
haha....NO SPEND!!!!
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