I'm taking a month off spending money - it’s not too late to start

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I'm taking a month off spending money - it’s not too late to start
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You have heard of Veganuary. You have definitely heard of Dry January. But what if the thing you gave up this January was spending money? 👛 ellieapeake has spoken to those giving it a go ⤵️

bites across the UK, many families are attempting to cut back wherever possible – especially on discretionary spending – as a longer-term adjustment. But Bradbury is not alone in attempting a shorter, month-long challenge, to readjust and reset spending habits.and the hashtag has more than 75 million views. Countless videos of spreadsheets and printed calendars. Young women, and it is usually women, meticulously documenting each successful no-spend day . They share lists of banned items.

This does mean that for fun, Bradbury is feeling rather limited. “I’ve done things like a DIY pamper night for myself with stuff I already have in the house.” Other evening activities have included clearing out the wardrobe. “We are also walking to places when we can to avoid fuel costs,” she says. One walk to the shop took her over an hour but she says she feels more in control. “Life feels so much slower now we have a bit more control”.

“I saw someone online say they were doing a no-spend month because she had so much food in her cupboards and freezer, and she lasted a month without buying anything which I found inspiring, so I decided to give it a go”.Her rules are strict. “I’m not doing much other than working, going on a lot of dog walks and watching Netflix.

​​But is this sort of extreme money diet actually a healthy way to start the year? Personal finance advisers can’t decide. “It depends,” says Caspian Paget, head coach at Octopus MoneyCoach. “When it comes to money, I always prefer to advocate for the gentler approach,” adds Seal, who overcame a debt of £27,000. “A ‘mindful spending month’ may be better, with rules around waiting a certain period of time before making a purchase or keeping a daily spending diary.

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