A month ago we talked about the idea of doing a no-spend day, well today we are going to up the challenge! Let’s look at how to do a no-spend week! Plus, this post has a free worksheet you can download to help set you up for success with your no-spend week! Look for the download below!
Before you dive into a no-spend week, start out with a few no-spend days. You can learn all about how to plan for a no-spend day in my post.
Even if you have a few no-spend days under your belt, it can be a big jump to get up to a no-spend week. I would recommend putting a few consecutive no-spend days in order to work your way up to the full week.
What are the benefits of a no-spend week?
There are several benefits that come with the challenge of doing a no-spend week.
Creativity
With a no-spend week, some sort of issue is bound to come up that throws a wrinkle in your plans. This forces you to be creative. If it was a normal week, you could just “spend your way out of this issue”. But with a no-spend week, you will need to pack your patience, creativity, and maybe even a few McGuyver skills to tackle any issues that come up.
Mindfulness
It is so easy to get in the habit of swiping your card or paying online without even evaluating the true cost to you. By putting these restrictions on yourself, you are putting some conscious thought into your spending and are able to evaluate if the spending is really worth it before paying.
Significant savings
A no-spend week will have a significant amount of savings for you to use. Make sure you are putting the money you would have spent to work for you. Make an extra contribution to your IRA, a special payment on the debt you are trying to snowball down or transfer it to a savings account related to a goal you have.
You worked hard at not spending this money, make sure it has a lasting impact on your finances!
Re-set of your spending muscles
After spending money for so long, your spending muscles get stuck in their routine. By breaking things up, setting new rules, and doing something different, you can re-set those spending muscles and get stronger with your spending patterns even after this no-spend week is over.
Set your rules or guidelines for your no-spend week
We walked through this in the no-spend days post, but a week takes a little more planning. Ask yourself the following questions:
- Are you allowed to grocery shop or do you need to stock up beforehand?
- What will you do about the gym/exercising if that is a paid part of your normal week?
- What limits will you have for transportation or using your vehicle? Can you refill it with gas or use public transit you have to pay for?
- What will you do if someone invites you to an event or dinner out?
- What other expenses occur weekly that you didn’t have to consider with a no-spend day?
- How will you handle any pet-related expenses?
Write down your specific rules of what is allowed or not allowed on your no-spend week worksheet so you can easily reference them during the week.
Plan ahead
If there are things like groceries or fuel that you are not allowed during your no-spend week, then plan to buy those before the no-spend week begins. Make sure you are not overbuying, just do your normal shopping trip.
Think about the little daily spending that happens and we are trying to stop during this week. Are there any other things you need to do in advance to set yourself up for success?
Be intentional in planning free activities
With a no-spend day, it is easy to have it be a low-key day that doesn’t involve entertainment or friends. But with an entire week, you will probably have a few more paid activities you need to workaround.
Do you need to find an at-home workout if paying for a gym class is part of your no-spend week? If you are going to see a friend, plan a free activity with them instead of getting dinner and drinks like usual. What other social activities might be barriers to you completing this no-spend week challenge?
Track your progress with my no-spend worksheet.
Here it is! Enter your name and email in the box below and get my free no-spend week worksheet sent over as soon as you confirm your email address! This worksheet will help you think through your personal guidelines and will help you think through why you want to go through with this no-spend week challenge!
Sign up now and get ready for your no-spend day or week!
Click to download!
This worksheet starts with writing down your personalized rules or guidelines that will apply to your unique no-spend week. Then it moves to remind you about your motivation and what financial goals you will use your savings towards. This is the fun and rewarding part! After your week, it is exciting to transfer $100, $200, or more of savings towards your biggest financial goal!
Finally, the worksheet allows you to track the no-spend days or weeks you have and evaluate how they went for you. This helps you learn where your weak spots are so you can make plans to be more successful the next time you do this.
The worksheet is reusable and printable so you can keep updating it as you do more and more of these no-spend week challenges.
What happens if you accidentally spend money?
First, be kind to yourself about it. Just because you forgot and ordered lunch to be delivered with the rest of the office, does not make you a failure. You have a couple of options:
- Restart your no-spend week from this point on.
- Count this oops, and continue your week and maybe make an extra contribution to your financial goals to offset this spending error.
If you do make a mistake, figure out if there is some barrier you can put in place to prevent you from making this mistake again. Maybe deleting your saved credit card from Amazon will remind you when it asks you to re-enter it. I wrap a post-it note around my credit card in my wallet because I am a mindless swiper. By having that physical reminder when I go to grab it, I can make an adjustment and not buy whatever this is.
Let’s get started!
The holidays can be an expensive and busy time. It makes sense that December may not be the time to start a no-spend week, but you can begin your planning now for one in January to reset and start your year on a frugal foot!
Have you done a no-spend week or day before? Any tips, tricks, or successes you can share with us? We would love to hear and learn from an expert! Share those in the comments or over on our Instagram post.
PS- Don’t forget to grab your free worksheet!
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I love this so much! My husband and I regularly try and do this. It’s not easy but totally worth it. We recently started trying to cut out food waste so we have stopped eating out except for special occasions and it’s pretty rewarding and fun. 🙂
I love the challenge of it! I can be really competitive, so it helps that I am trying to “Beat” something rather than just save money! Glad you figured out how to make it work for you!
Wow! The idea of a no-spend week sounds interesting! I think I should try the no-spend day first. This is so helpful. Thanks for sharing these wonderful tips.
Yes! Definitely check out my no-spend day post first and give it a try! Good luck!
I need to try this no-spend thing I keep hearing about but I’m dragging my feet on them.
Check it out with one no-spend day and see how it goes! You can do it!
Is grocery excluded, lol… I love this idea and reminder for me especially I needed to save!
Lol! You can make the rules! Either do a stock-up shop the week before, or exclude groceries but you have to stick to the list! Do what works for you!
I can’t even tell you how many times I have looked in the fridge and thought that we should just clean it out for a week and not spend anything. It never happens. I need to try it. Great tips!
That is a great idea! Challenge yourself to make things out of the fridge, freezer, and pantry! It would make some interesting meals, but we would be fed!
Great tips!