Mindful Spending Month

Mindful Spending Month: Week One

by | Feb 1, 2021 | Articles

The ‘No Spend’ Week

Welcome to Mindful Spending Month! This process is all about learning to reconnect with your spending decisions, so that you can go forward making conscious, mindful choices about what to buy. Please take the time to read the weekly articles, and keep us up to date on Instagram about your progress.

Week One is about resetting any toxic or anxiety-inducing spending habits that might have crept in over the last few months, with a combination of Christmas consumerism and lockdown gloom. You might have been dealing with emotional and impulse spending for a long time, or it could be a relatively new thing that you want to nip in the bud. For the first seven days, the guideline is: no spending on non-essentials. This means you should absolutely be buying food, petrol and anything else that you need, but that things you see on Instagram or pick up as you’re going round the supermarket are left on the shelf for at least this week.

If this seems, like a big ask, don’t worry – we’ll be there to guide you. There are some simple tasks for this week that will really help you to overcome the spending impulses and regulate your emotions at the same time:

Keep a List

Keeping a running list of things that you’d like, and how much they cost – a ‘want’ list – will give you visibility over the number of things that float in and out of your desires on a daily basis. Remember, you’re just keeping this list for a week to begin with, but you might be surprised by how many of the extra purchases don’t seem as desirable after a few days. We’ll add up the total saved by not making those purchases at the end of the week. We’ve created a downloadable worksheet for you to use, which includes a space for this.

Journal Every Day

It doesn’t have to be reams of writing in a fancy notebook – it could just be a couple of lines scribbled on the back of an envelope. But write about how you feel – either in relation to spending or just in general, and keep it to read back at the end of the week. You might notice a correlation between your ‘want’ list and your emotions for that day.

Keep it in Context

Slip-ups and oversights are par for the course; you’re human. But don’t disengage from the process the second you make any tiny mistake, this is about building lasting change, and a couple of blips don’t mean much in the grand scheme of things. Note it down, think about why it happens and keep going.

Stay Engaged & Support Each Other

Drop us a comment on each day’s post, and we’ll give you all the support and encouragement you need. Support others in the comments and accept support from them in return.

Keep Track

We’ve created a tracker that you can download below, to mark your progress in following the program. Share photos of your completed tracker at the end of the month, and you could win a copy of The Real Life Money Journal and a lovely bunch of flowers.

Good luck!