Extreme frugal living: don’t eat. Don’t spend any money! Security-driven individuals like me spend a lot of our time planning to make sure we never have to go without or that we’ll never be caught without money when we really need it. This is the whole idea behind building an emergency fund. In the past I’ve even recommended having four emergency funds for different reasons, just to be really safe.
The irony is, that once in a while, not eating and not spending anything would do us some good. Not only for the fact that by eating less, you save more money, but because studies have shown that the more weight we lose, the more wealth we seem to build.
Over the last few months, I’ve been keeping closer track of days when it’s possible for me to spend no money at all. Yesterday I had one, and two days before that I had another. The previous week I also had two. Mind you, on none of these days was I fasting, as I’ve suggested doing before. But I’m still pleased that I’m able to do this. I sort of have to right now anyway, out of necessity. And I admit it’s a bit easier to do because I’m working at home on some research that doesn’t require I leave the house.
Are “No-Spend Days” A Feasible Frugal-Living Idea?
I’ve read some criticisms about the idea of “no-spend days” on other blogs. One comment is that it doesn’t really matter if you have a “no-spend day” because you’re probably over-spending on one or other of the days prior or following it.
To this criticism, I’d just add that there’s a difference between spending and over-spending. I doubt that it’s likely one would necessarily over-spend as a result of not spending at all on one day. And if we’re just dealing with regular spending, then any and all “no-spend days” you can fit into your schedule are great. For example:
- Your overall monthly expenditures are automatically less
- Your average daily expenditures are automatically less (really the same as point 1)
- It trains you to spend less
- You can divert the saved money into a savings fund
- (your idea here?)
If you can pair the “no-spend” day with a day of fasting, that’s even better. The only problem I’ve found so far with using the “no-spend” day as a frugal strategy is that it can be difficult to plan in advance. This is just me, but I don’t always know if I’ll be able to control my Starbucks cravings and make my coffee at home that day. It’s sad to say, but the Starbucks coffee is a major temptation that will pull me out of the house (right now I mostly work from home), for good and for bad. Besides, it’s nice to take a walk outdoors and get some fresh air at the same time.
How about you – do you keep track of days when you end up spending nothing? Do you have any days like this? You can’t count online purchases made from home, either. No-spend has to mean no money was spent. Even if they only bring one’s monthly spending down slightly, I still think they’re a fun way to motivate yourself to live within your means as much as possible.
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{ 13 comments… read them below or add one }
I love no-spend days, but I don’t plan them. I especially like them because I find that once I spend in a day, I end up spending again, and again…whereas on no-spend days it’s like “well, I have managed to make it to 2pm without spending, let’s see if I can make it.” I get pretty excited when I can not spend all day. It frustrates me to find that I went all day without spending but then forgot to bring snacks with me or something and won’t be home for hours, and I have to go buy food. Fasting as a combination though would take care of that. :)
You already know I’m a huge fan of “The Financial Fast”, and have also worked hard to change my spending habits.
I developed a financial philosophy of sacrifice now to benefit later. The change has been incredible. I have increased my savings, increased my giving, lost a ton of weight, feel better, better relationship with wife…
Our attitude toward money has so many rippling effects…watching your daily spending is a huge part of the “bigger picture”!
@Lynne – exactly, there’s a snowball effect – once you see that it’s already 4pm and you haven’t spent, that motivates you to think of ways to just have dinner at home and make it a money-free day. That’s how it happens for me, too. They’re hard to plan.
@Matt – I’m looking forward to the rippling effects, too. A related day for me are “no-coffee days” because I’m such a coffee fan. I know it’s important to just take a step back from the coffee every now and then, too. So it’s two birds with one stone to do this and not spend all day.
I have plenty of no spend days but I never had a day where I didn’t eat anything.
Wow, great encouragement. This is a discipline that hits me square between the eyes. It’s great to look at this as a financial fast as well as doing the food fast. Then you can tithe a portion of what you save during that day.
What a great idea. I’ve never thought of doing so, but now that you mention it, I need to try it. A lot of times I will buy a snack just because I’m craving it. Rather than do that I’ll just not spend and keep the cash for when I do need it.
Hey, thanks so much for stopping by Studenomics! I love the idea of a no spend day as long as you don’t pull the classic “over spend the next day” strategy. When you are a college student that lives at home this is probably the best strategy for saving money. Think about it, as long as you can find a way to eat all of your meals at home you won’t have to spend money. Minus a few useless daily purchases and you can easily pull off the no spend day. Good luck all!
I have occasional no spend days but they generally end up being no spend days on accident. I have also noticed that they happen more often when the kids are not at home – probably because I will be more likely to scavenge something for dinner.
I do not really ever go a day without eating but I do enjoy the days that I go without having to spend on miscellaneous stuff! I have also taken to walking or biking to work as well – never hurts to save a little gas…
@Studenomist – if you can handle living at home while in college and not go crazy:), then more power to you! You will definitely save a ton of cash (assuming you don’t overspend on partying, drinks, etc.)
@Matt – Yeah, with children I wonder if it would be more difficult or not. Perhaps not, if you have everything ready to go for meals, etc. in advance. Or if you go camping, etc. it’s possible not to spend any money on some days. It might be worth trying a day of a fast, where you just drink water. It can really help to clean out your system. It is difficult, though!
I don’t count grocery items as spending really (as long as I stick to my budget) I have to feed the family ;) but I do limit grovery shopping to once a week and when it’s gone it’s gone
I can go for days on end without spending any other money, it’s become the norm for me now, opposed to previously when I used to spend, spend, spend.
I think that the “more weight we lose, the more wealth we seem to build” is not about “I eat less so I save money” but more about the discipline and willpower you build while effectively losing weight.
@ Studenonomist: I think of every day I spend nothing, despite the fact that, living at home, I can, as another day I can live out of home when I finally find an apartment. Every $20 book is a week of groceries that I can continue to support myself on, etc.
(I’m cheating on the groceries, I work in a kitchen).
Direct motivation is a major key for that kind of discipline!
@Jess – that’s a good way to think of it! Each dollar you save today can be used later on to save you some work.
@Laura – congrats on cutting back. I just finished another 2 “no spend days” at home here. I find it’s happening easily now, but only after I’ve gone out to buy the groceries, etc. – then it’s easy to stay at home, since you have everything you need for cooking, etc. After 2 days, though, I get cabin fever and need to leave the apartment. And once you do that…