 WED, JUL 7, 2021 
As the country has reopened over the past few months from its Covid-19 slumber, my calendar has been filling up with the events, dinners and trips that make up a life. That's invigorating, but also a tad stressful. Recently, I've found myself worrying about my budget.
In moments like these, I tend to turn to a standard of the personal finance cost-cutting oeuvre: the "no spend" month, or a set month where you do not spend extra money on wants or needs beyond the essentials. As my spending has started to feel unwieldy once again, I've decided this month to cut back in specific areas, including food and subscriptions. I'm thinking of it as a Great Reset as I see what my post-Covid life might look like.
Perhaps that appeals to you, too. If so, I have found from writing about the process a couple of times in the past that it's best to start the month with a concrete reason for cutting back.
For me, the goal is to make sure I'm spending on the experiences I actually want, rather than saying "yes" to every opportunity that arises to make up for the past 15 months. At some point, I'd also like to increase the contributions I make each month to a "house" savings fund.
You might want to put more money toward debt, save for an upcoming vacation or just spend less on material goods generally. Whatever your reason is, write it out somewhere. Then, consider your no spend rules. What categories are you trimming? What spending is allowed?
Some of my rules for July:
As you can see, this is not the strictest no spend month. It's more a low spend, but it is in line with my particular goals. Yours might include other categories that you've identified as your problem areas.
What I've found from talking to people who have participated in a no spend month, and from reading countless articles and threads on the topic, is not to go cold turkey if you've never done one before. Extreme spending isn't good, but extreme austerity isn't, either. Give yourself a little leeway at first, and be realistic ab]out what you can achieve.
That said, a month isn't so long; do challenge yourself. And just know I recognize that as a single person with no dependents, the whole thing is less challenging for me than it is for others. Do what makes sense for your lifestyle and circumstances.
If you decide to participate, I'd love to hear from you. What are your goals? What are your rules? What are your tips for cutting out extraneous spending? Shoot me an email at alicia.adamczyk@nbcuni.com.
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Rabu, 07 Juli 2021
Reset your finances with a 'no spend' month
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