How long have you gone without spending money?

Canada
December 28, 2011 1:26pm CST
On anything other than food and transportation, I guess I mean? A couple of my friends and I are doing a no-spend month in January, just to get our spending back under control after the indulgences of November and December. This will help us to pay down debt or save up for a downpayment, too. One of my friends' boyfriend suggested that we all do a no-spend year, instead. He's always wanted to do one but never had the motivation. It sounds like it would be challenging and I'm wondering if I could actually do it. We would still buy groceries (no going out to restaurants or coffee shops though) and pay for car repairs and cleaning supplies. It's actually a bit tempting because I'm pretty sure we'd save money, I just don't know if it's possible.
3 people like this
13 responses
@peavey (16936)
• United States
30 Dec 11
Yes, it's possible. I've done it more than once. It helps you focus on your goals more and it helps clear your head from all the "wants" so you can recognize waste better. It can really make a big difference in how much money you have on hand. I found that limiting the grocery shopping helped, too. I keep a fair pantry so really don't need to shop for much.
1 person likes this
@peavey (16936)
• United States
30 Dec 11
It may be easier to ease into it for you, yes. There's no end to the things you can replace. Disposable anything didn't exist a hundred years ago. Good luck!
1 person likes this
• Canada
31 Dec 11
thanks! We are about to pull everything out of the kitchen cupboards and pantry closet to see what we have an make a menu from that.
1 person likes this
• Canada
30 Dec 11
We've talked about limiting the grocery shopping too, but I think it's easier if we add restrictions gradually. We are already doing things like using cloth rags instead of paper towels, we just have to find more things we can replace.
1 person likes this
@cher913 (25782)
• Canada
29 Dec 11
well, now that Christmas is over, i hope to stop spending for months (although its my mom's birthday next week) but other than that, nothing. i want to start saving more mone this year.
1 person likes this
• Canada
30 Dec 11
We have to start saving more money this year. I'm hopeful we'll succeed.
1 person likes this
• United States
29 Dec 11
Besides rent and food, I could go months without spending money. My grandparents and my aunt are always giving me clothes and my mother supplies with household essentials like plates and soap whenever I need it. I know that when I finish school I would need to use more money but I'm hoping that I would stay in the habit of not using money as much as possible.
• Canada
30 Dec 11
We are trying to cut our expenses down to rent, food, electricity and our cell phones. (Oh, and internet). It would have been good if we had started out with this as a habit.
@Masihi (4413)
• Canada
28 Dec 11
Actually, you know what, that's an EXCELLENT idea! I haven't calculated how long I didn't spend but it's something I would love to do. I can probably do it on my end but my husband loves to spend money. So he'll expect me to take out my wallet and buy him coffee or he buys coffee that sort of thing. I myself am trying to get debt-free and I hope to get my debt paid off in six years from now.
• Canada
28 Dec 11
Maybe you and your husband could start with a no-spend week? My husband likes to buy coffees out but he has agreed that we need to save up and so he is going to make a coffee at home and keep it in a Contigo mug. The Contigo mug is really good for this because it keeps the coffee hot for about 4 hours and is basically spillproof. Or you could just do it on your end. It's kind of an interesting challenge, isn't it?
1 person likes this
@Masihi (4413)
• Canada
28 Dec 11
He has a thermos that he takes on his work shifts but enjoys a good Tim Horton's when we're out for a drive. As for me I liked to buy chocolate bars and I overspent on yarn big time. So I'll cut out on the yarn and chocolate bars since i have a nice stash of yarns at home.
@indi15 (888)
• India
29 Dec 11
hey, same is the case with my husband. The more i try to save money, more he spends. He always has a shopping and food list ready. He is very fond of all this. I can control my expenditure, i can just stay happily by fulfilling my basic needs.Even we are under debt , so i am trying to find more online work.
@Kate34 (656)
• France
28 Dec 11
I don't know has long it's been. Proably not more than a week as I buy out at least one day a week and sweets but not really expensive stuff just a 3 euro roll and noodles for 1.50. I'm still in school so I don't buy my own groceries. I spend about 10 euro a week on school weeks on food and other stuff. It's a good idea but a year would be very hard I would say a month to start because if it's a year and at the end of it you would want to buy a load of clothes and stuff you missed out on.
• Canada
29 Dec 11
I'm actually a bit worried that we'll keep telling ourselves we can buy things in February and so what we'll do is go out and spend a bunch of money in february. Hopefully we'll be able to find a way to make everything balanced in February.
@Kate34 (656)
• France
5 Jan 12
Yes you might because you didn't get the luxury in a whole month. Maybe you should just cut down, like don't drink coffees out and stuff because all them coffees add up. Make some and put it in a flask and bring in homemade food to work and a lot cheaper and healthier because you know whats in the food!
• Mexico
29 Dec 11
sounds incredible, but actually hard to stay away from restaurants and coffee shops, i hardly had a week without spending any money but i guess i cannot go any farther, could so wonderful if i can save money for at least one month, also like you said motives, if you are a group of friends with the same idea or project go for it and i hope this can be a good challenge for all of you.
• Canada
29 Dec 11
It does make it easier if you have a group of friends. Maybe you could do it too and post about it here?
• Mexico
4 Jan 12
oops maybe, i have try that before but i end buying more things after all, savings is not really discipline for me, when i have enough money i go shopping hehe its so nice to have things we always wanted.
@Fishmomma (11377)
• United States
28 Dec 11
I can do a month, but not a year of no spending. I like to buy a few movies and DVD's each year for entertainment. It would be to hard trying to barter for entertainment that I would really want to watch.
• Canada
29 Dec 11
Bartering is a lot easier in theory than in real life, isn't it? I do Swagbucks so we could, if we wanted to, get DVDs with the amazon gift cards that we usually use my swagbucks on. I'm beginning to think I might try for a year. We'll see how the first month goes.
@stephcjh (38473)
• United States
29 Dec 11
I have never really kept track of an exact time that I have gone without spending money. I do know it has been long periods of time, several times.
• Canada
30 Dec 11
We've done it before for quite a while but that was before we had a child. It might actually be easier with a child because it's hard to go out in the evenings when he needs to go to bed by 8.
@saundyl (9783)
• Canada
15 Jan 12
Aside from the normal Gas, Groceries, Bills - power and phone. I had a meal out on tuesday and went to a hockey tournament for last weekend - had meals out then too and shopping wise i bought some bras on the 28th of december and...some christmas pretties the same day. I find the more i think about a "no spend month" the more tempted i am to buy something.
@SomeCowgirl (32191)
• United States
28 Dec 11
Anything like that is possible but definitely hard. It's so tempting to buy something you don't need, and that even includes groceries. Buying groceries is one thing but sticking on a budget? I would try a month if I were you and then gradually go up, maybe after that month, add on another week, if that's still good and feels comfortable try for two weeks. Then just escalate it. I'm trying to think of how long I have gone without spending any money other then food and transportation and I would have to say that it was probably about two to three weeks. If I am busy with work I won't have time to go spend and indulge. Of course my work is in grocery, so trust me when I say I know what I'm talking about when I say people go over their budget. They don't call the products around the check out counter "impulse" for nothing.
• Canada
28 Dec 11
That's probably what we'll do. We're pretty good about not buying impulse buys - our weak areas are gifts and meals out. My friends have different weak areas, so we'll all encourage each other.
@dodo19 (47118)
• Beaconsfield, Quebec
12 Jan 12
I can't really say for sure how long I can go without spending money on something for myself. I can say that it's usually a long period of time. I usually have a difficult time spending money on myself.
• United States
28 Dec 11
I probably have gone about one week without spending money. I cannot usually go that long. I usually spend money on baby items, gas, and other necessities. I hardly buy anything for myself though.
• Canada
29 Dec 11
I don't buy much for myself, to be honest. For baby items we aren't going to need much - we cloth diaper, so that is all set. And we just received a lot of new things as presents, so with any luck we won't need anything else.
@Porcospino (31366)
• Denmark
28 Dec 11
In the middle of 2011 my husband and I decided that we would spend less money every month in order to save up money for travelling. We decided that we were only going to spend money on food, transportation and the other things that were absolutely neccesary and avoid coffee shops, restaurants, shopping etc. We didn't manage to stick to the budget every single day, but it went quite well and we saved up about $3000 in half a year. In 2012 we are going to continue, and if things go well we will be able to travel in the end of 2012.
• Canada
29 Dec 11
That sounds great! Did you have any particular strategies that you used to stay motivated along the way - especially if you had a setback?