No Spend January: the cure for a Christmas hangover

For the past few years I have greeted the New Year with a no spend January. It is the perfect antidote to the excesses of the festive season and always on my list of resolutions. Indeed, it is often the one New Year’s resolution I manage to achieve…

The benefits of a no spend January

When your bank account is feeling empty, a no spend January gives you the opportunity to regroup, to refill the coffers and to take control of your finances. If you are in debt, a no spend January will give you extra resources to pay off some of what you owe.

Beginning the year feeling anxious and out of control can set the pattern for the months ahead, whereas a no spend month can help you break free of some of the negative behaviours that made you over spend in the first place. A period of limited spending gets you out of bad financial habits. It makes you more creative and appreciative of what you already own.

If you do have problem debts, take a look at Debt Camel or the Money Advice Service for expert help.

The rules

A no spend January means not buying anything that isn’t essential. So, you pay your rent or mortgage, your household bills, transportation costs and buy groceries. However, you ignore the sales, you don’t buy any new clothes, furniture, books, music, films, makeup or treats. You don’t go out to dinner, to the pub or to the cinema. Having said that, my daughter’s birthday is in January. This year it is her 21st, so we will go out for a meal, but this will be planned and budgeted for in advance. Her presents are already purchased!

I always find it amazingly liberating to have a no spend January, or any no spend period I happen to set myself. It is easier than telling myself I will spend as little as possible. If someone asks me to do something or go anywhere that costs money I will simply explain that I am doing a no spend January. They are usually really interested and some even join in!

Generally I find I get out of the spending habit and this spills over into February too.

No Spend January

Hints and tips to help you stop spending

If you are somebody who enjoys shopping for fun, a no spend January is the ideal time to rethink your hobbies and interests. What can you do instead by yourself, with friends and family instead of shopping?  Could you go for a nature walk or cycle, host a pot luck supper, find the films you always wanted to see on Netflix or watch your old DVDs? Do you have a shelf full of books you have never got round to reading or a half completed craft or knitting project to finish? How about starting a daily journal?

I find a no spend period is a good time to cook some thrifty recipes. Baking is something I enjoy, so rather than spending money I can devote more time to creating delicious cakes. Let’s face it, most of us have a cupboard full of flour and items like cocoa and dried fruit that probably need using up!

Shop your wardrobe. This is a great time to reorganise your wardrobe and dig out little worn clothes, rather than spending money on new items that you don’t need. You could even sell items that you know you will never wear on eBay to make a bit of extra money.

Set goals

Set yourself some savings goals to inspire you and make you more determined not to spend any money. If your money isn’t going towards paying off debt, could you put some away in an emergency fund? Would you like a family holiday? Do you need to kick off your teenager’s university fund or are you likely to need a new car in the near future?

For me, redecorating our tatty hallway is a priority so I will be saving towards that. I also need to start a car fund as my old banger isn’t going to go on forever.

Low spend grocery month

Getting into no spend mode tends to focus my mind on keeping our grocery spend as low as possible too. This is the time to do an audit of your cupboards, fridge and freezer and see what needs using up. Plan your meals to incorporate what you have. If you have sausages in the freezer but no potatoes, use your stores of pasta instead to make a sausage ragu. Think of a recipe to make to use the couscous that has been sitting there for a year. Use more pulses and beans instead of meat and eat vegetarian a couple of times a week.

I always make sure our larder is stocked with the essentials to make quick, easy and frugal meals. Having items like eggs, rice, pasta, tinned tomatoes, tinned tuna and sardines, cans of chick peas and frozen vegetables helps to keep our grocery spending low as I can always throw something tasty together with those.

Who is in for a no spend January? Let me know what you think and give your advice on achieving a no spend month in the comments. You can also come and find me on Instagram where I will be posting regular tips and updates on my no spend month! I am @shoestringcottage.

Good luck everyone!

No spend month update

What do you do when you are on a no spend month? Well, luckily I find it easy to amuse myself without spending any money. It has been a busy time at Shoestring Cottage anyway, so I haven’t had time to worry about things to buy. I have had one lapse though….

Budget DIY

No spend monthWe have finished stripping off the wallpaper in the living room (well, Mr S did it while I was at work). I have two days off next week and plan to rub down and wash all the woodwork, then paint it all along with the ceiling.

We have leftover paint so intend to use all of that up before we buy any more next month. We have a nest of tables and a cabinet that need painting as well.

There is plenty to do that doesn’t involve buying anything during this no spend month.

Food rotation

Food bills have been pretty low. We can see the bottom of the freezer, which is often very full. This is a good thing as it means food is getting used rather than hanging around going stale.

We have been buying food, obviously. Just trying to minimise our spending by using up what we have.

Bad hair day and a no spend month fail

I have had a lapse during my no spend regime! I really need a hair cut. Every day is a bad hair day at the moment.

Because I don’t want to spend much I have called the local hair and beauty college. I have an appointment with one of their students for next week. It will cost just £10 for a cut and blow dry.

This isn’t allowed during my no spend January but it will be after pay day so I am going with it.

Regular readers will know that I have been known to cut my own hair on occasion. However, this time it needs more specialist attention.

Dave Ramsey debt buster

I recently started reading Dave Ramsey’s Total Money Makeover, not because I am in debt but because I am interested in financial issues. It fascinates me how people get themselves into a financial mess, but even more so, how they get out of it.

I will do a review when I have finished it. In the meantime, I have been watching some of his videos on You Tube. They are interesting and funny! He is often brutal in making sure people are aware of their stupidity in allowing themselves to get so outrageously in debt. At the same time he is supportive and constructive when offering advice to help them out of it.

He makes no bones about the fact he is a right wing Christian. I am neither but I do agree with his basic position that people need to get out of the view that you can have everything you want, right now, whether you can afford it or not.

I find it terrifying how easily people who are already in debt can get into more debt. How youngsters fresh out of university with student loans and a low paying job can get an expensive car on finance. Just how ‘normal’ it is to have lots of credit card debt. Food for thought.

If you aren’t familiar with Dave Ramsey he is worth a look.

What’s hard about a no spend month

It can be boring. If you want to go to the cinema, you can’t. The pub? Not on a no spend month. You fancy some new clothes – this is a no-no. However, you can still watch stuff on You Tube or TV, you can catch up on all those books you have bought and never read. You can take more exercise for free. This post has plenty of ideas. You can have a wardrobe declutter and discover things to wear that you had forgotten you had.

I am forgiving myself my £10 haircut and resolve it will be my one weak moment. How about you? If you are on a no spend month how is it going?

No spend January – how did I do?

Regular readers will be aware that, like many people in the new year, Christmas had left my bank account feeling rather depleted. I resolved to make January a no spend month, buying nothing except essentials.

During my no spend January, I paid the bills, planned our meals to use up what we already had and then kept grocery spending as low as I could. I bought petrol but tried to minimise how much I used the car and drove like a granny so I didn’t use so much fuel. We didn’t need any cleaning products and won’t do for a few months. No clothes, books or makeup were purchased. Even the cats have had to get used to a cheaper brand of food!

The odd slip up

Did I have any slips during my no spend January? Well, yes, I caved and bought hair dye as I had a grey stripe on my head, I bought popcorn and snacks for my daughters from Lidl when we went to the cinema (they treated us as they had vouchers). On Friday at work I was a bit hormonal and gave in to a bar of chocolate from the vending machine (80p! Could have got a pack of 4 for £1 elsewhere).

Other than that I have done really well – so well I am extending this into a no spend February. None of this is really a stretch for me as I am frugal nearly all the time anyway, but declaring a no spend month keeps me hyper aware of my every purchase. If I am going to create a healthy emergency fund I need to do this.

I really need a haircut at some point so that might be an allowed exception. It is also Valentine’s Day. We never go over the top with this but will have a nice meal in and I plan to make Mr S a present. (Not sure what yet but it is likely to be edible!). Because it actually IS the thought that counts.

Preparing for the wood burner

We will need every spare penny over the next couple of months as Mr S is installing a woodburner. This was my birthday present a year and a half ago but for various reasons other things have taken priority and it has been sitting in its box waiting to be fitted. He will do everything himself except line the chimney so it shouldn’t be too expensive, but we will redecorate and freshen up the whole room. He has damaged the wallpaper, adding to the damage already inflicted by the kitten! I don’t intend to use any savings for this project, it will mean being super frugal and cutting back elsewhere.

It’s been an interesting month for my blog. I made a new year resolution to write a decent post every day and the number of views I get has doubled. I am chuffed, so thanks to those of you who have read my whitterings!

How about you? Did anyone else do a no spend January or are you planning a no spend month?

No spend January 

So, my no spend January is approaching. I am avoiding the sales as there is so much I want to buy that I can’t afford. In an ideal world there would be enough left in the pot to take advantage of some bargains but there isn’t.

The only exception will be Boots. I have a £25 voucher from Father Christmas so might take a peek at their reduced gift sets before the New Year. If there is nothing I fancy I will save it for toiletries and makeup as I need them. In the past I have bought Christmas cards, wrap and crackers at this time but I still have plenty to use for next year.

no spend JanuaryNo spend January: focus on essentials

To get the bank balance back in shape I am giving up spending  for a month on anything except food and essentials. No more snacking at work or sneaky coffees in town,  impulse buying books or any of the other things that can catch me out.

I would avoid town all together but have to go in on Friday to see the optician and change a jumper I bought for Mr S that doesn’t quite fit. So it will be in, parked and straight out again 😀.

The other weakness I have is for charity shops. Even if I go in with donated items I often can’t resist coming out with more stuff I probably don’t need. What are your weaknesses when it comes to spending? Anyone care to join me on my no spend January?