15 Comments
Jan 2Liked by Dana Miranda

I think it’s a good idea not to participate in no spend months just like it’s a good idea not to do diets. I don’t think it’s helpful and it’s not sustainable. However, I’d like to know your advice on overspending because some people are doing it and despite their budgeting practices or lack thereof it’s still a problem for the environment. I think that topic/thought was missing from this and it’s important to include when we talk about money.

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Thank you so much for the shout-out! I’m always down to help people find ways to reduce what they don’t need, and to make space for what they do want more of in their lives (usually, time!).

I’m super interested in this topic of avoiding no-spend challenges, as I’m trying out my first one right now, ha! I didn’t realize it was such a tired trope. I’m going to be really mindful of all the pitfalls you pointed out and notice how this experience makes me feel. For me, the goal isn’t to punish myself, but to get out of the habit of buying stuff to solve my everyday problems. I’m enjoying your newsletter lots — thanks for writing!

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Thank you for the shout out, Dana. Just got done scheduling my newsletter for the week and realized we wrote about similar topics, once again. Just reaffirms I’m not the only one in the personal finance world who feels the same way.

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Ope, suddenly reconsidering my no-spend challenge... And also so very excited for your book!

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Jan 2Liked by Dana Miranda

I used Upsolve to file for bankruptcy and didn't hire a lawyer. It didn't take too long post-bankruptcy for the credit card offers to start rolling in.

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Jan 2Liked by Dana Miranda

I think that no-spend challenges are actually very helpful, especially if you view them as a learning/observing opportunity. They are a good way to pause nonessential spending and actually reflect on what you are consuming. I did one back in July and thought about these questions: What are the things I’m mindlessly spending on? How can I meet this want in an alternative way? If I wait a month, will this desire go away? When the month was over, I didn’t go out and immediately buy everything I was wanting in the no-spend month, I made spending decisions that were more aligned with my values.

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Hey Dana-

I'd love to give you the requested feedback in the survey, and your survey software is telling me that the survey is now closed...

Maybe I am missing something?

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