This writer did a one-month 'spending fast.' Here's what she learned:
The first time I organized a monthlong “spending fast” with readers, I thought the point was to avoid unnecessary purchases and save money. That happened, but so did a whole lot more.
This was in pre-smartphone days, before we could buy anything from anywhere using a device we carry everywhere. But it was still a challenge to avoid impulse spending.Today, February spending fasts are common enough that the month has been deemed “Frugal February” by personal finance bloggers — although you can try one any time, for as long as you want. If you want to learn more, check out this thread about our recent no-spend experiment in the NerdWallet Community forum.
I thought it might be challenging to hang out with friends, since we often meet at coffeehouses or restaurants. But my buddies have been supportive, once I explained how my no-spend month works. They’ve come to my house for coffee or gone on hikes with me, and at least one is contemplating a spending fast next month.
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