No Thank You to No Spend Months

In the personal finance space, it’s popular to practice “no spend months.” The idea is simple. Pick a month, don’t spend anything other than needs that month, save some the cash, and just like that, you’ve magically made your financial life better. Some of the biggest money “experts" advocate for this type of thing, but I couldn’t disagree with it more.

The message behind no spend months is clear: spending money on wants is irresponsible, unimportant, and hurtful. Therefore, when we can muster the energy and discipline to not spend money on wants, our life improves.

Alternatively, I argue that spending money on wants is important. Not ALL the wants, but some wants. You know, the ones that actually add value to your life. If we have a healthy relationship with our money, we’re able to find a balance between spending, saving, and giving. Too many people are being told spending is bad, leading them down the road to hoarding. It’s tragic and destructive, and it needs to stop. No spend months are like a crash diet. Sure, we see immediate and seemingly impressive progress. But once we stop the diet, we’re likely to binge and catapult ourselves back to where we started…..or worse.

When you buy your Starbucks drink today, or grab a deli lunch with a friend, or snag a new pair of shoes, or hit the theater to check out the latest movie, I hope it adds value to your life. I hope you enjoy it, feel no guilt or regrets, and give yourself a fist bump for enjoying some of what God has blessed you with. That’s so much healthier than a ridiculous no spend month.

"I Would Have Felt Guilty"

I was recently meeting with a client who just did something out of character for his wiring. He purchased two things that were very much wants. Outdoor equipment and tickets to a few events. On the surface, these are very normal and customary purchases for most people…..but not for him. He’s wired as a big-time saver and these types of decisions don’t come easy for him. Despite what our cultural narrative says, not everyone is out there recklessly spending and spiraling themselves into debt. Many people deal with a polar opposite, but equally destructive habit: hoarding. This is a rampant problem caused by a “responsible” segment of our society that demonizes spending and applauds saving. And if saving some is applauded, saving more gets an even bigger applause. This sentiment, carried over years and decades, has led an entire generation into a hoarding mindset.

What I love about my young friend is his self-awareness of this potential pitfall in his behavior. He recognized it early, keenly knew it probably wasn’t healthy, then took steps to address it. Today, he has a healthy balance of saving, spending, and giving. When I asked him about these purchases, he was excited to share the news. It was pure and genuine excitement. He added, “Before we started working together, I would have felt guilty.” This time? No guilt. Not one ounce.

No guilt, no regrets, and no second-guessing. Just intentional decisions that fit into his broader plan, to create experiences with people he loves, which will turn into lifelong memories.