In today’s economy, we’re always looking for ways to stretch every dollar. However, the allure of new gadgets, trendy clothes, and the latest dining spots can often lead to impulsive spending. An iced latte here and an Uber Eats delivery there, topped off by a spontaneous online order can add up over time.
For those seeking to curb frivolous expenses and adopt a more mindful approach to their finances, participating in a no-spend month could be the solution to gaining control over their spending.
What Is the No-Spend Month Challenge?
The no-spend month challenge is a personal finance exercise where individuals commit to not spending money on non-essential items for a specific period. This could mean cutting off a subscription service, limiting your nights out for drinks, pulling back on online shopping, and holding off on big, spontaneous purchases to see how much you’d save over the month. The challenge encourages participants to evaluate their spending habits, identify areas of unnecessary expenditure, and redirect their financial focus toward savings and debt reduction.
This spending requires one to differentiate between needs and wants, with the base necessities being food, transportation, housing, essential bills, and medical/mental health expenses.
Preparing for a No-Spend Month
When embarking on a no-spend month, proper preparation is key to ensure you make the most out of the experience.
Financial expert and founder of The Frugal Feminista, Kara Stevens, says that having a compelling “why” can serve as a motivator to endure the ups and downs of the challenge, especially if it's your first time. “Have a clear idea of what your goals and outcomes are for the challenge. Do you want to be grateful for what you have? Do you want to save a certain amount of money?” she tells xoNecole. “Know what's going to be your ‘after-no-spend challenge' sustainability plan because we're hoping that your habits and your perspective on spending are changing and that you find a way to make that a part of your life after the challenge.”
One of the initial catalysts for the recent popularity of the no-spend challenge is to combat “revenge spending.” This spending habit, triggered by the “life is short” reality of the pandemic, has caused many of us to want to make up for lost time or missed experiences, which can lead to reckless financial decisions and jeopardize future stability.
Because of this, Stevens advises us to reframe our thinking around revenge spending to avoid putting our financial future at risk.
“Try and shift your perspective on revenge spending and say, yes, I want to live my best life, but how can I spend it responsibly?” she says. “How can I revenge spend on a budget? How can I remove the idea of revenge spending from my lexicon and just live well and plan systematically so it doesn't take away from my future financial goals?”
The Benefits of Having a No-Spend Month
Photo by Emilio Takas on UnsplashTaking part in a no-spend month has a number of benefits, one of which is the self-awareness and gratitude you gain by cutting out non-essential purchases. “You’re more financially self-aware because you're only thinking about what you deem as essentials,” Stevens says. “It can also make you more resourceful because you have to use what you have in your home, rather than going out and shopping.”
Those who take part in the challenge often find they become more intentional with their purchases, distinguishing between what they truly need and what they can do without. The money saved over this course of time can then be redirected towards paying off debt, building an emergency fund, or being put into a sinking fund.
Due to the rigid nature of the challenge, Stevens says that it’s important to have a sustainable framework to follow the no-spend challenge to avoid reverting to old habits. “It can be like "yo-yo dieting,” she explains. “If you were very strict for a certain period, but didn’t create any type of habit or change of mind to continue with it, you could resort back to revenge spending, ironically.”
Things to Keep In Mind
While it may seem like just another financial trend, taking part in a no-spend month can provide precious data about not just how much money you spend but also your mindset and relationship around money. You can observe how your feelings about money change and highlight areas of improvement. Alternatively, you can even start a sinking fund that allows you to put money aside for large purchases or personal experiences.
Ultimately, it’s not that spending money is bad, it’s about how you approach spending in a responsible way that ensures your financial security and success in the long run.
Let’s make things inbox official! Sign up for the xoNecole newsletter for love, wellness, career, and exclusive content delivered straight to your inbox.
Featured image by Evgeniia Siiankovskaia/Getty Images
Originally published on July 5, 2024
- How To Start A Financial Wellness Journey When You're Completely Broke ›
- Define The Bag You're Chasing Before It Defines You ›
- Meet The Entrepreneur Who Believes Wealth Is In The Mindset Of The Beholder ›
RELATED
Kayla Nicole says she wore a dress that was once worn by Braxton herself for the Halloween costume. “It’s not a secret Toni is more on the petite side. I’m obsessed with all 5’2” of her,” she tells xoNecole via email. “But I’m 5’10'' and not missing any meals, honey, so to my surprise, when I got the dress and it actually fit, I knew it was destiny.”
The episode was the perfect way for the multihyphenate to take control of her own narrative. By addressing the viral moment on her own platform, she was able to stir the conversation and keep the focus on her adoration for Braxton, an artist she says she grew up listening to and who still makes her most-played playlist every year. Elsewhere, she likely would’ve received questions about whether or not the costume was a subliminal aimed at her ex-boyfriend and his pop star fiancée. “I think that people will try to project their own narratives, right?” she said, hinting at this in the episode. “But, for me personally – I think it’s very important to say this in this moment – I’m not in the business of tearing other women down. I’m in the business of celebrating them.”
Kayla Nicole is among xoNecole’s It Girl 100 Class of 2025, powered by SheaMoisture, recognized in the Viral Voices category for her work in media and the trends she sets on our timelines, all while prioritizing her own mental and physical health. As she puts it: “Yes, I’m curating conversations on my podcast The Pre-Game, and cultivating community with my wellness brand Tribe Therepē.”
Despite being the frequent topic of conversation online, Kayla Nicole says she’s learning to take advantage of her growing social media platform without becoming consumed by it. “I refuse to let the internet consume me. It’s supposed to be a resource and tool for connection, so if it becomes anything beyond that I will log out,” she says.
On The Pre-Game, which launched earlier this year, she has positioned herself as listeners “homegirl.” “There’s definitely a delicate dance between being genuine and oversharing, and I’ve had to learn that the hard way. Now I share from a place of reflection, not reaction,” she says. “If it can help someone feel seen or less alone, I’ll talk about it within reason. But I’ve certainly learned to protect parts of my life that I cherish most. I share what serves connection but doesn’t cost me peace.
"I refuse to let the internet consume me. It’s supposed to be a resource and tool for connection, so if it becomes anything beyond that I will log out."
Credit: Malcolm Roberson
Throughout each episode, she sips a cocktail and addresses trending topics (even when they involve herself). It’s a platform the Pepperdine University alumnus has been preparing to have since she graduated with a degree in broadcast journalism, with a concentration in political science.
“I just knew I was going to end up on a local news network at the head anchor table, breaking high speed chases, and tossing it to the weather girl,” she says. Instead, she ended up working as an assistant at TMZ before covering sports as a freelance reporter. (She’s said she didn’t work for ESPN, despite previous reports saying otherwise.) The Pre-Game combines her love for pop culture and sports in a way that once felt inaccessible to her in traditional media.
She’s not just a podcaster, though. When she’s not behind the mic, taking acting classes or making her New York Fashion Week debut, Kayla Nicole is also busy elevating her wellness brand Tribe Therepē, where she shares her workouts and the workout equipment that helps her look chic while staying fit. She says the brand will add apparel to its line up in early 2026.
“Tribe Therepē has evolved into exactly what I have always envisioned. A community of women who care about being fit not just for the aesthetic, but for their mental and emotional well-being too. It’s grounded. It’s feminine. It’s strong,” she says. “And honestly, it's a reflection of where I am in my life right now. I feel so damn good - mentally, emotionally, and physically. And I am grateful to be in a space where I can pour that love and light back into the community that continues to pour into me.”
Tap into the full It Girl 100 Class of 2025 and meet all the women changing game this year and beyond. See the full list here.
Featured image by Malcolm Roberson
My main motive? Mostly, I hope that it will serve as a solid reminder to embrace all of the things that you adore about this time of year, so long as you do it in moderation and you weigh the costs.
Especially as far as drinking alcohol is concerned.
PRO: Manages Blood Sugar Levels
GiphyHere’s something that you may have never seen coming. Were you aware of the fact that alcohol can actually help to stabilize your blood sugar? Yep, according to the American Diabetes Association, so long as you leave it to no more than 1-2 cocktails a day, alcohol may be able to lower your A1C levels. Pretty cool, right?
CON: It’s a Carcinogen
GiphyAlcohol is a carcinogen. The reason why this should somewhat alarm you is because carcinogens are things (like tobacco, UV rays, processed meats, etc.) that can increase your chances of being diagnosed with cancer (especially mouth, throat, esophagus, stomach and breast cancer). There are various ways this happens including the fact that alcohol, specifically, can hinder your body from breaking down certain nutrients, it can cause your estrogen levels to spike and alcohol can also cause certain toxins to damage your DNA and certain bodily proteins over time.
PRO: Cultivates Euphoric Feelings
GiphyIf you find yourself feeling more euphoric while you’re enjoying a drink, it’s not all up in your head. Although, for the more part, alcohol is considered to be a depressant, when consumed in small amounts, it can provide a stimulant effect. This happens due to the fact that when you first start to consume alcohol, it causes the production of the feel-good hormone known as dopamine to increase — and since dopamine makes us all feel more relaxed and confident while heightening our senses of pleasure too…well, there you have it.
CON: May Increase Anxiety/Depression
GiphyAs they say, “what goes up, most come down” at some point — and that is what you have to be careful of when it comes to alcohol consumption. For instance, when you drink alcohol, although it tends to initially cause your dopamine levels to uptick, because it is a temporary bodily response, sometimes the dips are lower than the rises…and that is when anxiety starts to kick in. A similar point is made with depression because oftentimes, people with depression-related symptoms, will use alcohol as a way to deflect from what’s really going on with them — and that can make them feel even worse than ever once the buzz of alcohol starts to wear off.
PRO: Has Some Heart-Related Benefits
GiphyWhen it comes to your heart, there are interesting findings surrounding its relationship to alcohol. For instance, some research states that, so long as the consumption is moderate, alcohol can actually help to increase the good cholesterol in your system while also breaking down proteins that can potentially lead to blood clots; both of these factors alone can reduce your chances of dying from heart disease.
CON: Packs on Pounds
GiphyIt’s no secret that alcohol tends to contain quite a few calories. That’s why, it’s not uncommon for people who’ve lost weight to mention “I’ve stopped drinking” as one of the causes for the shed pounds. That’s not to say that there aren’t some alcoholic beverages that have less calories than others including vodka (133 calories per serving), white wine (148 calories per serving) and tequila (99 calories per shot). Just keep in mind that the more you drink, the more calories get into your system and the more weight you stand to gain.
PRO: Lowers Inhibitions
GiphyAlthough you really should only be uninhibited around people who you absolutely trust, if that person is your partner and you’re looking to have a pretty — eh hem — active evening, alcohol can certainly help to make that happen. The science of it all is the prefrontal cortex of your brain is what regulates your inhibitions and levels of self-control. Meanwhile, alcohol suppresses your inhibitions which can cause you to be more spontaneous and open to trying things that you might not immediately do if you were sober. And with the right individual, that can be sexually beneficial (emphasis on “right person”).
CON: Makes It Harder to Orgasm
GiphyOn the other hand, as odd as it may seem (in light of what I just said), if you have too much alcohol in your system, it could make climaxing difficult. That’s because orgasms happen, in part, due to your nervous system being stimulated — and since alcohol is technically a depressant…well, it could reduce nerve sensitivity (especially as far as your clitoris goes) for you while making it challenging for your partner to remain erect or have consistent stamina. And yeah, that sucks.
____
‘Tis the season. And with that, if some wassails or hot buttered rums are in your immediate future — hey, don’t let me stop you — not even a lil’ bit.
All I’m saying is now that you know what alcoholic drinks have to offer (both ways), you can know exactly how to incorporate them into your holiday plans. Enjoy!
Let’s make things inbox official! Sign up for the xoNecole newsletter for love, wellness, career, and exclusive content delivered straight to your inbox.
Featured image by Unsplash