I’ve been researching happiness and human nature for over 12 years, and I’ve found that money is one of the most complex and fascinating factors in living a happy life.
While it’s true that money alone can’t buy happiness, it’s true that our spending decisions can both contribute to and detract from happiness. This insight inspired me to design rules that bring more clarity, energy, and freedom to my life. The idea is to take a month where you don’t spend any money.
A no-spend month is exactly what it sounds like: a month in which you avoid non-essential purchases. Pay rent, utilities, bills, and other necessary expenses even in months when you don’t have any expenses. However, discretionary expenses such as purchasing new equipment, books, and restaurant takeout are not eligible.
A no-spending month breaks the dopamine loop of impulse purchases. Research shows that impulse purchases give you a temporary boost in dopamine, but the pleasure quickly wears off. It is also true that in many cases, if we do not satisfy our desires, our desires will not accumulate. Instead, they fade away.
It also deepens your self-awareness. If you’re like me, you may find yourself spending money without really thinking about it, whether it’s getting a coffee here, buying a new shirt there, or buying a subscription that you haven’t canceled but rarely use. Without the ability to “swipe away” stress and boredom, we become more conscious of our spending habits.
Short-term deprivation prompts us to answer the following questions: Are we purposefully spending our resources in ways that reflect our values and support our long-term well-being?
How to plan your own money-free month
1. Identify your “why”
Be clear about what you hope to get out of the experience. Whether it’s saving for a bigger investment, reducing clutter, or aligning your behavior with your values, understanding the “why” behind this experiment will help you keep experimenting. Reasons related to what you want are more powerful than just what you think you “should” do.
2. Set the timeline
If you think it’s too much to stick to for a whole month, try just one week or one day a week. What do you think is realistic given your lifestyle and financial situation? The approach doesn’t have to be all or nothing.
3. Define the essentials
The “Essentials” category can include more than just basic necessities like bills and groceries. For example, you might want to include things that are important in your life, such as social activities with friends. During my own “No Spending February,” I only buy household items that I need, and I also buy gifts.
4. Use a wishlist
If you’re tempted to click “Buy Now” or hand over your credit card, add the item to your wish list instead. Delaying purchases until after a no-spending month can help you get clear on what you really want.
5. Set safety measures
For example, if you tend to shop when you’re bored, decide in advance some alternative activities you can use to deal with boredom.
6. Find a purpose for your savings
Where does the money you save during the months you spend nothing go? Why not create an emergency fund? Do you want to pay off your debt? Do you want to invest? Save for a future trip? Instead of feeling like you’re depriving yourself, you feel like you’re gaining something more.
7. Shop what you have
If you want to buy something new, try looking for something you already have around the house. For example, a book you wanted to read or an essential item you forgot. You can also “shop the pantry” and use up items that are gathering dust on your shelves.
A month of mindful spending shifts your focus from buying solutions to solving problems. After all, less time browsing means more time to invest in relationships, activities, and what matters most.
Gretchen Rubin is one of today’s most influential observers of happiness and human nature. She is the author of many books, including the bestseller “The Happiness Project.” Her books have sold more than 3.5 million copies worldwide. She also hosts the award-winning podcast Happier with Gretchen Rubin, where she explores practical solutions to living a happier life. Her new book is “Secrets of Adulthood.”
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