‘No Spend September’: How skipping extras for 30 days can pay off
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Social media challenges can be a mixed bag – from the feel-good “ice bucket challenge” to the dangerous “Tide pod challenge.” Now comes one that could actually help your wallet: “No Spend September.”
Leslie Tayne, a debt relief attorney, said it is challenging to do, but this experience can be really rewarding.
“Think about the benefits of not spending any extra money outside your regular budget for an entire month,” Tayne proposed, “giving you more money for the holiday season. And helping you pay out debt that you might have had outstanding the following month.”
The rules are simple: spend only on necessities such as rent, groceries, utilities, and transportation. Everything else – like eating out, new clothes and morning coffee shop trips – is prohibited.
“So, you can leave your credit card at home, you can turn off your wallet so that you’re not spending anything extra,” she said. “You can budget yourself just for a little bit of cash, so that you have money in case there’s an emergency when you’re out and about. But staying out of stores, staying offline, not looking at things on social media that tempt you to spend.”
Tayne also recommends skipping restaurants and social outings that encourage extra spending, at least for the month.
That’s the best way to win “No Spend September”.
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