Challenge time! Could you go an entire month without spending?
Most internet trends involve ice buckets or no makeup selfies, but there is one fiscal challenge that has been doing the rounds over the past year or so that looks particularly interesting.
Rather than angling for likes on Facebook, the 30 Day No Spending Challenge focuses on benefiting your bank balance through sticking to a tight budget for four weeks.
Plenty of bloggers and Youtubers have been taking up the challenge, and while they seem to find it difficult, they are reaping the monetary benefits.
30 day challenge: no spending money.
Let's see if I can do this
— Niki LeDuc (@Nikileduc) February 1, 2017
Consider for a moment how much money you'd save if you just gave up your daily Starbucks coffee for a month?
Well, the same idea applies to just about every little luxury you can think of.
Most wannabe savers decide to spend just €50.00 a week for the month on everything, including travel and groceries.
Finna do a 30 day challenge of no going out of spending money on unnecessary stuff
— Tom Brady(@1stblock_thomas) March 5, 2017
Things like rent and utilities are omitted from the budget because they are necessities, and the spending challenge is all about saving up that disposable income.
Things to cut out include eating out at restaurants, buying coffee, clothing shopping, and entertainment that isn't free.
People who have managed to be super strict and follow the €50.00 budget per week have managed to get months ahead on loans, save up for dream holidays or that designer item they have been lusting over for months.
My 30 day "no spending" challenge was interrupted by a broken iPhone and a craving for Raisin' Canes pic.twitter.com/N9MWFrUFbr
— Elizabeth Williams (@ElizabethGraceW) March 5, 2017
If you always find yourself in the red at the end of the month, this challenge could be a good way to shock yourself into getting your finances in order.
While €50.00 may not seem like a lot to spend on transport, food and toiletries, a little can go a long way.
Simple things like bringing your lunch to work every day and batch cooking your dinners can help with the food spending freeze, and cycling or walking rather than getting taxis is a manageable way to make changes during the challenge.
Not spending near as much money, no drinking, dieting and 30 day challenge begins tomorrow.
— ASHLEY (@ashleyrenfro) July 5, 2015
Deleting food delivery apps can also help eliminate any temptation from coming your way when you get those last minute takeaway cravings.
You can also distract yourself by undertaking free activities like going to open air plays, spring cleaning, attending open mic nights, watching Netflix and taking up an exercise class via YouTube.
With some bloggers saving up to €1000.00 after a month on the fiscal freeze, it's well worth a try.
Oh, and while we have you; don't forget to have your say in the inaugural SHEmazing Awards this May! It's time to vote, and you can do it right here!
