#FinanceFridays: No Spend Challenges
Have you ever participated in a No Spend Challenge? These challenges push us to face the discomforts of not spending, and encourage us to focus on our needs vs. our wants.
Right now I'm using the Spending Tracker by Alyssa Davies on her personal finance site, Mixed Up Money. She offers free No Spend Templates that encourage us to post each day with our progress on whether we've been successful (with our non-spending) or spent and on what. This holds us accountable to what we've spent and encourages us to be hyper-aware of our spending, allowing us to practice discipline and diligence every day when it comes to our money.
What I enjoy the most of out of a No Spend Challenge is that is forces me to be present: with myself, with my belongings and generally, in overall life. No Spend Challenges support gratitude and presence with all of my belongings, especially my clothes. An impulsive need to buy, based on emotions, based on social spending, based on whatever reason applies for you... is turned upside down with an acknowledgement and awareness of necessary spending: on food and gas for example.
Have you ever tried a No Spend Challenge? What did you learn about yourself? We'd love to know in the comments below. Signed, Filipina Budget Girl.