The concept of a No Spend Day is very simple – it’s a day where you don’t spend any money! I think that No Spend Days (or NSDs) are the key to much better finances, especially during the week where the work canteen can sometimes be a temptation, or that coffee on the way to work as a pick me up. I also think that purposely having NSDs during the month helps me to stick to our budget month in, month out.
Our system is very simple – I count the days when I don’t spend anything at all; no cash or card purchases during that day. As most of our direct debits come out either on our payday or the 1st of the month, this makes the process easier. I also find that keeping very little change in my purse works well too, as the work canteen only accepts change! I also plan my spending so it happens on the same day, often a weekend day, so that I can keep my run of NSDs going during the week. So, if I’m going grocery shopping on a Sunday, I’ll think about if I need anything else and then I’ll purchase it on Sunday as well. I’m already spending, so I might as well!
The problem with spending little and often, is that it adds up. A cup of coffee here, a chocolate bar there, a newspaper or magazine as a treat, soon add up to lots of pennies every month. This can be the difference to making it through the month and meeting goals, or wondering where your hard earned cash has disappeared to because you have little to show for it. And, the little splurges here and there can suddenly become an everyday habit. By all means, treat yourself occasionally, but that’s what a treat is supposed to be – an occasional thing. Because if they become an everyday thing, then they are no longer a treat.
Do you track your NSDs? Do you agree with the concept? Let me know in the comments below!
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