By the end of the month it can be easy to think, ‘Where did all my money go?’ If this sounds familiar, and if you feel as though you often have little to show for the cash you’ve spent, the ‘no spend’ trend could be for you.
It’s been around as a concept since the early 2010s, but is now all over social media – check out #nospendchallenge or #nospendmonth. “It’s basically talking about a set period of time where you make a concerted commitment to not spend money on things that aren’t essential,” explains Matthew Sheeran, Money Wellness collaboration partner and trained debt adviser. It could be for a day a week, just on weekends or for a whole month. “You can still do your food shopping and pay your bills,” says Sheeran, but all those little luxuries, like takeaways, coffees or new clothes, are off limits.
