A single mom from Maine started the No Spend Trend on social media after saving enough to pay off her debt and build up her emergency fund. Like Dry January, the concept of No Spend January is to go without something you dearly love. Instead of alcohol, the primary goal is to eliminate unnecessary spending. 

The No Spend Trend is growing at a time when detoxing is hip. Detox Diets help eliminate toxins and promote weight loss. Digital Detoxes challenge a person to abstain from video games and other forms of digital entertainment like Netflix. The No Spend Trend is a form of Financial Detox designed to help people reduce debt and increase savings in a fun and competitive way. 

The rules for those wanting to try the No Spend challenge at any point during a month or the year are simple. For a set amount of time, you only spend money on essentials. You make coffee at home instead of going to Starbucks. You don’t shop for new clothes or impulse buy when you see something on sale on Instagram. You tell your friends, “maybe next time” when they ask you to go to a concert with them or out to dinner. 

No Spend Days are taking off because it’s less daunting for a person to commit to a spending freeze for a week opposed to an entire month. No Spend Days are also a great way to learn the benefits of eliminating unnecessary spending on a more regular basis. For those who feel they may have a tough time sticking with a No Spend challenge, recruiting a friend can offer support and added motivation. And making friendly, non-financial bets on the outcome can help you stay on track.