beginning · money

Preparing for a NoSpendYear

At the beginning of the year, I decided that I would like to try doing a NoSpendYear challenge. Given that I need to save up a rather sizable down payment for an apartment I would like to buy before I’m 40, on top of saving for retirement and creating my Emergency Fund, not spending money on anything for a year, would be extremely helpful.

But let’s be realistic. Doing a NoSpend challenge for an entire year without any experience in such challenges would quickly lead to failure. So I figured I need to train myself like I would if I was running a marathon.

Set Up

First, I established the rules of my NoSpend challenge.

I decided to do five different NoSpendWeeks and once I succeeded in all of them, I would move on to NoSpendMonths. If I succeed at two of them, I would do an entire year without spending any money outside of specific parameters.

So yeah, I have a very specific plan.

I’m hoping to start my NoSpendYear in the Summer, since I don’t really want to wait till 2020. I’m not going to lie, I’m really nervous about this challenge. It’s a first challenge outside of the GoodReads’ Book Challenge that I ever attempted.

So Far, So Good

I’ve already done two NoSpendWeeks which I won, and one which I failed at. In my defense, I planned a no spend week then my cat got super sick. I had to tap into my Emergency Fund to pay for sooo many vet appointments. But I want to do three more NoSpendWeek before the end of June, then have July and September as my NoSpendMonths. If everything works out the way I want it to, I will be kicking off my NoSpendYear in November.

Wish me luck!

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