Is it time for a “No Spend Week”?

How can a no spend week help you?

January is always a tough month for finances, as we recover from the festive period and get a start on the year ahead. A no spend week, where you only pay for essentials such as bills, food and transport, is a great way to save a little money and get on top of your finances.

The experts at icount, the prepaid Mastercard® provider, have put together their top tips for making it through your first no spend week. Carry on reading to discover how a no spend week can help you!

Benefits of a no spend week

No spend weeks are a great tool to improve your financial health. You’ll be able to save money, which can go towards a purchase or holiday. Not only that, but it will help you to spot any bad habits you’ve got into – such as buying a coffee on the way to work every day – and figure out areas where you can continue to cut down on in the future.

Top tips to survive a no spend week

These tips will help to make your no spend week a breeze. Read on to find out more.

Plan in advance
As the old saying goes, ‘failing to prepare is preparing to fail’! Before you begin your no spend week, make sure to choose a quiet week with no special events or birthdays. Plan how you’re going to get to work, what you’re going to eat, and what you’ll do for entertainment. Knowing what your week will look like will help you to be better prepared to tackle your first no spend week.

Make the most of freebies
There are plenty of freebies available if you do a little digging around. From online giveaways by your favourite brands, to free items available on Gumtree, it’s definitely worth doing a quick internet search before you make a purchase. There are also likely to be free events and activities in your local area, that will help keep the kids busy and make for a great family bonding experience. Take a look at local Facebook groups or magazines to see what’s on.

Remember it’s only one week!

If the going gets tough, remember – it’s only for one week! Push on and your no spend week will soon be over. If you’re struggling, try working out how much you’ve saved so far to boost your motivation, or check out budgeting blogs and tips for more ways to manage your no spend week.

These top tips will help your no spend week fly by, and will put you in good stead to carry on building your financial health in the future.

This is a collaborative post.