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With gas prices, food, housing, and medical care increasing in price it may be time to embark on a new minimalistic lifestyle.
What is a No-Spend Challenge?
A no-spend challenge is when a participant only spends their money on necessities. That’s housing, utilities, food, insurance, and transportation. Pursuing this challenge completely eliminates impulse buys and stops you from bringing unnecessary new things into your life.
That means you’d be cutting out shopping for clothes and home goods, cutting beauty expenses, eating out, and entertainment expenses.
Skyrocketing inflation may be the easiest excuse to start this hardcore but a rewarding financial quest. Even though you’ll be spending as little as possible, the price to get what you need is in the wake of high inflation is still a blow to your bank account.
What You Can Do to Save on Necessary Expenses
Plan your Trips Precisely
Now is not the time to be wasting fuel. Plan your drives accordingly and drive responsibly on behalf of your wallet. Stay out of the fast lane and drive at your car’s best fuel efficiency speed whenever possible.
Take the Bus
Refuel your vehicle as little as possible by utilizing public transportation whenever you can.
Plan Your Meals
Meal prepping and planning your grocery trip down to every detail save you from wasting food and money.
A No-Spend Challenge can be the best way to take control of your budget and make the most out of trying times. Happy Saving!