No Spend March: Week Four

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We made it! The final week of No Spend March. While I feel that it was a good experiment and challenge to try, I will admit, the idea of forcing myself to not spend money felt like I was, in a way, shackling myself to my work and my home. While I may have a few extra dollars in my bank accounts, I passed up on many opportunities to see friends and socialize because, “I’m doing a no-spend challenge for work.”

Sure, it was entirely my choice to partake, but I definitely felt why it can be difficult to not spend money, especially when everyone around you is.

Let’s go over my final week!

Friday I repeated a mistake I made the first week - I found myself after a photoshoot hungry with no preparation, so I ended up going to Jimmy John’s for lunch. While it may be slightly better for me than McDonald’s (who am I kidding?), it was certainly not better for my wallet. Money spent: $11.11

In case you forgot, this Saturday was my day to allow myself to spend money, because I went to the Comic Convention and Entertainment Expo (also known as C2E2) in Chicago. I bought two Blu-Rays of shows I had been looking for for such a long time, and got Joel and I Taco Bell after our hellishly long day driving in Chicago traffic and walking 20,000 steps. We were not in a mood to cook. Money spent: $156.31

Yes, you read that right. Thankfully, I kept some restraint for the rest of the week, because I know I had to make up for this past weekend.

So, now that this challenge is over, what have I learned?

  1. I figured out times where I am more likely to spend money. My impulses are driven by hunger, always. This is why diets are the worst thing in the world for me (the latter of which I’m trying to attempt in an effort to clean up my eating habits). So, if I know I’m going to have a long morning or day of being on my feet, I need to prepare myself for that.

  2. I now take my time to decide what purchases take priority. Not being able to spend money has given me a lot of time to figure out what I need and want to purchase. I give myself less grief spending on items I need, and find more joy in spending on items I want, because I now give myself more time to reflect before purchasing.

  3. Sometimes, I’ll have to spend money, and that’s O.K. I’ve always made myself feel guilty when making purchases. Have you ever gone shopping with someone who carries an item around the store with her for most of the time, only to put it back right before you leave? Yeah, that’s me. Sure, reflecting is good (as I mentioned in my prior point), but also - I shouldn’t deny myself the simple pleasures of life simply because I feel guilty parting with my money.

Now, I better understand not to spend money frivolously by being prepared ahead of time, think about the purchases I want to make, and then, when the time comes, actually go for it and enjoy the process.

How did your month of no-spending go? Did we inspire you to try a no-spend month? What did you learn over the process? Leave your comments below!

(Also, if you’re nervous about not spending money - did you know Milborn Advisors can help you make a budget? Budgeting is a great way to figure out where your money is going and how not to spend it impulsively. Contact us today for a free consultation!)