The Right Way To Do A No-Spend Month To Change Your Money Habits

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A recent survey by marketing network Stagewell found that 52% of Gen Z is actively looking for ways to “opt out” of the economy by spending less overall — and with 62% of Gen Z saying they receive financial advice from social media, it’s no surprise that trends like no-spend months are increasing in popularity.

A no-spend month — also referred to as a no-buy month — is an individual financial challenge to stop spending money on non-essentials. Non-essentials include little treats like coffee, takeout, and clothes, but it can also be things like streaming subscriptions, books, or even activities. Meanwhile, costs like rent, utilities, gas, and transportation are all considered essential and do not apply to that month’s expenses.

“No-spend challenges are a good mental reset for putting a hard stop on overconsumption and [to] prove to yourself you can say ‘no,’...