A no-spend month is a month long commitment to spend money only on necessities: gasoline, groceries, rent, utilities, etc.
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- Create an Emergency Fund
- Give to a Non-Profit or other good cause
- Save up for a family vacation or another fun splurge
- Start saving for retirement or a college fund
- Save up for the necessities like a house or car
- Pay off debt like credit cards or student loans and get one step closer to financial freedom
-Clean out your pantry
-Get a hobby
Find encouragement and inspiration from others who have completed this same challenge—and lived to tell the tale.
There are a few expenses that should definitely be cut out for the month:
- Eating at restaurants
- Hobbies–crafts, golf, etc.
- Alcohol & other vices
- Lottery Tickets
- Furniture/Home Decor