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Do you spend a lot of money during the summer? The season can be expensive, with all the weddings, gifts for those weddings, festivals, beach trips and iced lattes. All those things can add up and leave your bank account empty as the summer winds down, and that’s where a “no spend September” can help.
Financielle, a female-focused budgeting app, recently shared the idea on TikTok as a way to get your finances back on track after a summer of spending. They suggest thinking of “no spend September” as a “money reset post-summer.” But this is a budget you can actually stick to because you create your own rules for it.
The rules for no spend September:
- Find out what your problem areas are - This is the first step because you’ll need to identify what triggers you to spend money. Maybe it’s feeling like you need everything you see on social media, or the impulse buys you make at Target, or just not being able to say no to a good deal you find. Know what you tend to spend on and where you want to cut back.
- Categorize your spending into “allowed” and “not allowed” - Some things you have to pay for every month, whether you want to or not, like bills, rent and food. The “not allowed” category can be a little trickier, but it should include all the stuff you want to avoid buying, like coffee drinks at your corner cafe, clothes, takeout meals and beauty products.
- Make a shopping list and stick to it - Think about what you need to buy this month and put it on the list. What doesn’t belong on the list? Things you find in the bargain bin, which may seem like a steal, but you don’t need.
- Lean into hobbies that don’t cost money - Challenge yourself to explore pastimes that are free, or that you can do with items you already own or can borrow. You don’t need to sit at home bored all month because you’re having a “no spend September,” you just need to be creative.