Savings Success: Woman Saves £500 Monthly With 'No Spend' Approach

Chrissie Milan didn’t set out to become some minimalist money wizard, she just came back from Thailand shocked by how far a pound could go. A smoothie for £1 there, £6 back in London, and suddenly her “normal” spending didn’t feel normal anymore.

After returning to West London, the 25-year-old video producer jumped onto the “no spend year” trend, meaning she started saying no to anything that wasn’t essential. The catch?

And the wild part, she didn’t just save money, she had to wrestle with boredom buys, convenience spending, and the mid-year motivation dip.

25-year-old Chrissie Milan started to rethink how she spends her money following a trip to Thailand, where she realized the stark contrast in the cost of living in the Southeast Asian country compared to back home in London.

Chrissie, who is a video producer, decided it was time to make a change after returning from the trip, joining the 'no spend year' trend, which meant she would start saying 'no' to unnecessary spending.

That £1 smoothie moment in Thailand is what flipped the switch, and January is when Chrissie decided to only spend on rent and food.

Hailing from West London, Chrissie reflected, "It's not something I ever thought I would do, to be honest."

"In Thailand, a smoothie cost me £1, compared to £6 in the UK, and it was much better. That got me thinking about what I really need to spend money on back home and what I'm getting in return."

"So in January, I made the decision to only spend on essentials, like rent and food. I can definitely feel the difference," she elaborated.

Once Chrissie cut out clothing and stopped saying yes to evening meals, those “small” daily habits started adding up fast.

Chrissie completely eliminated her £150 per month clothing budget and ceased going out for evening meals with friends, which were often without a budget.

By merely forgoing daily coffees and packed lunches, she managed to save £240 a month. In total, these changes allowed her to save an average of £500 a month. Over the course of a year, this amounts to approximately £6,000 if she continues with her approach.

Chrissie’s “no spend” rules hit similar territory as the woman deciding whether to lend money to a friend who blew their paycheck on non-essentials.

Amidst the significant changes and the rewards they bring, Chrissie acknowledges that cutting out things she enjoys doesn't feel natural.

She explained, "We often spend out of convenience, and the first few weeks felt like an exciting challenge."

"However, there was a dip in motivation in the middle, and it was easy to revert to old habits."

"Meal prep and planning ahead became more difficult. I experienced a few weeks where I slipped back slightly," the 25-year-old revealed.

Then came the messy middle, when the excitement wore off, meal prep got harder, and she slipped back for a few weeks.

The video producer admitted that she used to be a big spender in the past, often succumbing to impulse and boredom buying certain items. However, committing to this 'no spend' method has helped her overcome these detrimental habits.

She revealed, "It helps you realize what you truly value spending your money on."

"I've discovered that dining out isn't really my preference, but I enjoy indulging in new coffee experiences or going out for breakfast instead."

Still, with her impulse and boredom buying habits in the rearview, she kept the no spend method going long enough to bank an average of £500 a month.

"Everyone has different essentials, so individuals can determine what they consider essential," Chrissie emphasizes.

She also mentioned that saving money for unexpected expenses provides her with peace of mind: "The goal is to reassess my spending habits, so I believe the money I save would be best utilized for unforeseen circumstances or investments."

"I aim to establish a stable financial future; I don't feel the urge to splurge on something extravagant."

By the time Chrissie hits the end of her no spend year, she’ll have traded convenience buys for a solid £6,000 in savings.

Wondering where to draw the line? Read about the friend who kept asking for money after the OP started saying no.