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And it starts right now.
If youre trying to become more disciplined with your finances, this challenge could be for you.
It wont solve everything, but it can definitely set you on the right track.
Heres how to succeed with a No Spend January, according to Kaden.
Choosing to spend money only on what you need isnt always easy.
Theres so much temptation out there, for one thing.
But buying things you want is also a habit, one thats hard to break.
This is where the challenge comes in.
Just remember that its a tool, not a solution to every money problem.
But how do you do this?
Start by identifying your needs.
Everyone has their own needs, but theres a lot of overlap that can make identifying the essentials easier.
Make a list of these essentials and of anything else that falls into the needs category.
Whenever you go to buy something, double-check that its a need.
If it is, go for it.
If its not, dont.
Avoid Wants
The other side of No Spend January is to avoid spending any money on wants.
These are purchases that often cost more or are simply not essential for daily living.
Some are impulse purchases or those meant for immediate gratification.
Oftentimes, theyre not that meaningful and end up being a waste of money.
If its something you dont absolutely have to have, set it on the back burner.
If you still want it after January, you might reevaluate whether its worth the cost then.
In this journal, she records how she feels about not spending money on non-essentials.
But remember to give yourself grace as you write down your experiences and how you feel.
Nobodys perfect and thats OK.
According to Kaden, the key thing is to keep track of your feelings about not spending money.
Does not buying something you wanted make you feel irritated?
Does is allow you to spend more time withfamily and friendsor tackle other things youve been putting off?
Taking notes and being honest with yourself during this month can teach you more about your money habits.
you could also apply what youve learned well beyond the month of January.
Feel free to make your own rules that are going to be effective for your goals, Kaden added.
Your word should be something that inspires you and puts out a sets the tone for the year.
And it can help align your goals with your actions and thoughts.
you’re free to view your word as anextension or alternativeto the typical New Years Resolutions.
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