No Spend Day Challenge


15 Nov 2017

As you may know, this week is Financial Capability Week! So, here at NYA we have got together a few willing volunteers to take part in a No Spend Day challenge to mark the occasion.

Friday 17 November will be our No Spend Day. The rules are simple – you cannot spend any money at all on the day. Below are the profiles of our volunteers. Have a read through to get to know them and their spending habits! Check back to see how they got on!

Jodie 

How much do you usually spend daily?

I have different phases where I can go for days without spending a penny but then I do big splash outs. Not great! Last week was clearly a big splash out time as I average £44 a day – that is shameful!

What do you normally spend money on?

I spend a lot of money on food – I don’t spend a lot of my time going out so food is key to the way I celebrate, socialise and treat myself!

What is your weakness when it comes to money?

Where to start! Working in town definitely makes it easier to spend money – for me this is generally clothes and homeware – although I love a good sale! My biggest weakness is definitely buying other people things – I can’t help it! For example, I have finished my Christmas shopping already, with the thought that spreading the costs makes it easier on the finances but what tends to happen is I just continue to buy people things way into December regardless.

 Update – what happened?

Did you spend any money? If so, how much and what did you spend it on?

Well not technically. I have a standing order that moves £50 from my accounts and this happened today but other than that I did not actually purchase anything.

How did you find the challenge?

As I was working from home I found this a lot easier than I would have done if I was in the office. What I did find hard is that I am signed up to a lot of newsletter and I was getting a lot of sale notifications from sites.

Any advice for anyone else wanting to do the no spend challenge?

Turn off your email notifications!

What did you learn from the challenge?

I have actually been through my emails and unsubscribed to a lot of newsletters. There are clearly only websites I only visit once prompted which means I spend money unplanned and often on things I don’t need. I have only kept subscriptions for websites I use regularly so I can take advantage of promo codes etc.

Keith

How much do you usually spend daily?

£6ish per day.

What do you normally spend money on?

Food!

What is your weakness when it comes to money?

My weakness is cakes.

Update – what happened?

I spent 50p on some bread because frankly my planning underestimated the power of my stomach. Aside from that I did have to avoid a couple of situations where normally I would have spent money (people going to the shop to buy breakfast goodies). I also had to promise to buy my friends a drink next time we go out as I was unable to stand my round at the bar!

Very interesting and it shows that with better planning and less frivolity I could get away with much lower daily spend.

 

 

Charlotte L

How much do you usually spend daily?

I don’t spend that much. At most it would be £15 a day, but usually not that much.

What do you normally spend money on?

Mostly food shopping – more for dinner! I tend to bring in a packed lunch to work with me.

What is your weakness when it comes to money?

Clothes! There is a lot of temptation to go into town and buy things because we work so close to town. I don’t do a lot of online clothes shopping though – I prefer to see it for real before I buy it.

Update – what happened?

Did you spend any money? If so, how much and what did you spend it on?

I DIDN’T SPEND ANY MONEY!!!

How did you find the challenge?

So hard! I think I wanted to spend money even more than usual because I knew I couldn’t! I have also learned that I really don’t enjoy soup… but, I’m glad that I did it and I think it shows just how much I spend money just for the sake of it.

Any advice for anyone else wanting to do the no spend challenge?

Don’t do it on a Friday and prepare yourself a yummy lunch the night before so you don’t get tempted to spend and ‘treat yourself’.

What did you learn from the challenge?

I learned how hard it is not to spend ANYTHING and it made me appreciate the fact that I can spend a few pounds a day. But, it did teach me that I can do it and I might challenge myself to do a couple of ‘no spend days’ during the week.. just not on a Friday!

 

Charlotte T

How much do you usually spend daily?

Not very much! I try to spend as little as possible most days, usually less than £5.

What do you normally spend money on?

Mostly food!

What is your weakness when it comes to money?

Buying clothes! But this doesn’t happen too often – only as a treat!

Update – what happened?

Did you spend any money? If so, how much and what did you spend it on?

No!

How did you find the challenge?

For me it was more of a struggle to remember I was taking part in the challenge! I was worried I would spend money by accident, forgetting that I couldn’t on that day. So when I went into town at lunch I just didn’t take my purse with me so I didn’t have the option to spend anything. Overall, the challenge wasn’t too difficult as it was only for one day. I prepared lunch to bring to work with me though I was tempted to buy more food at lunch time!

Any advice for anyone else wanting to do the no spend challenge?

Be prepared! Make sure you make yourself a nice lunch the day before so you aren’t tempted to buy anything.

What did you learn from the challenge?

It’s easy to spend money unnecessarily without thinking about it.

 

Shannon

How much do you usually spend daily?

On average £15.

What do you normally spend money on?

I usually spend my money on clothes, petrol and food.

What is your weakness when it comes to money?

My weakness would definitely be buying clothes and eating out!

Update – what happened?

Did you spend any money? If so, how much and what did you spend it on?
I didn’t spend any money.

How did you find the challenge?
I found it interesting and slightly challenging – especially during lunch time when I usually eat out.

Any advice for anyone else wanting to do the no spend challenge?
I would advise to look at what you would usually spend in a day beforehand so you can plan around that. E.g Pre-prepare lunch before the day so you don’t need to take any in on the day.

What did you learn from the challenge?
I learnt that I should pay more attention to what I spend and that by making small alterations to my routine I can save a lot of money in the long term.

 

Katy

How much do you usually spend daily?

I bring my own lunch usually so a few pounds here and there in Lidl but since Saturday:

Saturday £45.86

Sunday £93.99 (Christmas presents)

Monday £38.98

Tuesday £18.42

What do you normally spend money on?

Eating / drinking out, I always find that I offer to pay for things – I don’t know why.  I can afford it but I’m often too generous and run out of money before the end of the month.  I also spend money on things I don’t need.  I see pretty / cool household items and I can’t help myself.  I also by things that are reduced even if I don’t need them.  I see things that I think people will like and I buy them.  Generosity issues!

What is your weakness when it comes to money?

All of the above, I spend so much money on household items I don’t need.  I LOVE buying gifts for people and love to spoil people but I need to wind it in.

Update – what happened?

Did you spend any money? If so, how much and what did you spend it on? 

I bought water at the airport I completely forgot until I scanned my card. £3.97.

How did you find the challenge?

It was ok as most of what I did was already paid for.

Any advice for anyone else wanting to do the no spend challenge?

Be well prepared and don’t do it when you’re going on holiday.

What did you learn from the challenge?

Need to keep your wits about you, you spend money without realising it.

 

NYA is delivering ‘My Money Now’, supported by the Money Advice Service, which aims to develop and boost young people’s financial capability skills. The workshops are designed for young people and apprentices aged between 16-21 who are embarking on independent living and at the start of their career journey. The training is interactive, combining explorative learning such as case studies with conversation around money, which can sometimes be a taboo subject.

If you are an organisation and would like to find out more about our free training please get in touch with Jodie Lees on jodiel@nya.org.uk