As the name suggests, a no-spend month challenge requires you to stop spending money unnecessarily for one month.
Set clear challenge rules and clarify what you can and cannot spend your money on.
Rent, utilities, and groceries are okay but dining out, trips to the shopping mall and movies are not.
You need to cut back on all non-essential purchases for the entire month.
Challenges are a great tool for testing out different approaches to money management. In the process, you begin to understand your urges and shopping patterns.
You consider each purchase carefully and feel motivated to save more money and spend on things you care about.
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