Penny Says No To The No-Spending Challenge Because It Is Stupid

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Dear Rich,

For the sake of research, I had contemplated doing one of those “No-Spending Challenges” for this blog. At first glance, it seems like kind of a fun idea. But then I thought about it a bit more and I realized how stupid these challenges are.

So, the premise with these challenges is that you don’t spend any money for an entire month. But this is stupid because people just re-allocate their spending to other months. Like, they’ll stock up on groceries, they’ll pay their bills in advance, that sort of thing… the same amount of money is being spent, it is just being done in a different month.

Or, if you’re doing this challenge and you really want to buy a new pair of pants, you just wait until the challenge is over and then go out and buy the pants the next month.

I have no idea what this challenge is teaching anyone.

When I was visiting my mom one weekend, I read about some ladies who did this challenge in the Fargo Forum. These ladies weren’t going all in and stocking up on groceries or anything, as they had set an allotted amount for expenses and bills and such (apparently you can do this with this challenge as there are not any hard and fast rules). Their results were especially stupid. Instead of spending money to go out, they would continue to go out, but their boyfriend or their parents would end up footing the bill. Or they would use gift cards that they already had.

Dumb. Dumb. Dumb.

I like how this blog post on The Financial Diet sums up this stupid challenge:

“Personally, I feel it’s a way for well-off people to congratulate themselves on struggles they haven’t personally experienced. Poor people aren’t making a statement when they don’t buy coffee every morning, it’s simply their reality.”

I can’t believe I wasted my time entertaining this idea. Don’t do the No-Spend Challenge, everybody. Budget accordingly. Spend money on what you value. Live a good life. That’s all you need to know.



One Reply to “Penny Says No To The No-Spending Challenge Because It Is Stupid”

  1. Agree. I don’t like artificial games that aren’t sustainable. I make a distinction between that process and goals, which are specific targets to achieve.

    You know what else I think is stupid? The idea that one should pay for everything in cash because it’s psychologically harder to spend money that way. Part of human evolution is to recognize psychological foibles and overcome them, not enable them. And don’t get me started on writing checks. Have you ever sat behind someone writing a check at the grocery store?
    Rich @ recently posted…Monthly Money Check: Rich Explains How He Meets Financial Goals Without A Budget — April 2017My Profile

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