Frugal Friends Podcast: Should You Try a No-Spend Challenge? Released on June 17, 2025
In this engaging and insightful episode of the Frugal Friends Podcast, hosts Jen Smith and Jill Sirianni delve deep into the concept of no-spend challenges—a popular strategy among those striving to gain better control over their finances. Originally aired as Episode 286 in February 2023, this re-airing continues to resonate with listeners, offering a comprehensive exploration of the benefits and potential pitfalls associated with committing to a period of reduced discretionary spending.
Introduction to No-Spend Challenges
[02:42 - 06:00]
The episode kicks off with Jen and Jill reintroducing the topic of no-spend challenges, acknowledging its popularity among their audience. They emphasize that while such challenges can be highly beneficial, they may not suit everyone's current financial or personal circumstances.
Jen: "Should you try a no spend challenge? Welcome to The Frugal Friends podcast where you'll learn to save money, embrace simplicity, and live a richer life." [02:42]
Jill: "This is a fan favorite, and we want to make sure that you hear all the best of it." [03:06]
Benefits of a No-Spend Challenge
[07:04 - 16:45]
The hosts outline several key advantages of undertaking a no-spend challenge, supported by expert insights and relatable anecdotes.
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Achieving Savings Goals Faster
- Tom Yamas: "The first benefit of a no spend challenge is that it will help you achieve your goal faster. If you're just looking at numbers... you would be $2,000 closer to your goal." [08:18]
- Jill: "There's a specific goal in mind... it's aimed at a good reason to do a no spend challenge." [09:01]
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Exercising Self-Control
- Jill: "It does help us to exercise self control. A challenge like this can help us to rein in and exercise that muscle to learn a bit more of what it feels like to say no to ourselves." [09:35]
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Identifying Hidden Spending Triggers
- Tom: "It can help you identify hidden impulsivity issues or spending triggers. Your head becomes a lot clearer." [10:28]
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Discovering Ways to Have Fun Without Spending
- Jill: "It can help discover ways to have fun without spending money... exercising this kind of creative muscle." [12:22]
- Tom: "Forced creativity... great for our brain health function as well." [16:10]
Potential Pitfalls of a No-Spend Challenge
[20:46 - 35:07]
Jen and Jill also address the dangers associated with no-spend challenges, ensuring listeners are well-informed before embarking on such endeavors.
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Focusing Too Intently on Small Expenses
- Tom: "They focus on eliminating relatively small, short-term expenses like coffee, dining out... we prefer focusing on $3,000 problems and $30,000 problems." [30:10]
- Jill: "If we're not doing well with the smaller things, we're definitely not going to do well with the bigger things." [24:15]
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Establishing a False Sense of Security
- Jill: "If you put in a ton of effort towards not spending, it doesn't work that way." [25:04]
- Tom: "The no spend challenge gives you space to think more clearly and creatively about... ways to increase my income." [26:09]
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Binge Spending
- Tom: "Another danger is binge spending. When you try to go too hard, too fast... you fall off the wagon and compensate by binge spending." [30:01]
- Jill: "If binge spending is a temptation, it might be the number one reason a no spend challenge isn't for you." [31:03]
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Deferring Discretionary Expenses
- Jill: "You're not just saving money, you're deferring it to spend later, which isn't beneficial." [32:49]
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Shaming Yourself for Reasonable Wants
- Tom: "We're not here to shame you for reasonable wants. They can just be things you want and love." [34:14]
- Jill: "Deferring isn't bad in itself... It can help you build the habit of letting things sit and deciding if you truly want them." [35:06]
Responding to Criticism: Is a No-Spend Challenge Sustainable?
[35:07 - 42:34]
The hosts engage with an external article that argues no-spend challenges don't work, addressing its main points with thoughtful rebuttals.
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Not Sustainable Long-Term
- Tom: "A no spend year makes a great story, but it can transition from helpful to holding you back." [36:40]
- Jen: "It's necessary to reign it in, similar to fasting before surgery. It's not meant to be permanent." [38:21]
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Doesn't Bring Meaningful Change
- Jill: "It depends on your approach. If you have a real goal in mind, it can bring about meaningful change." [42:34]
Jen: "The goal is to not need the tool anymore. Use it to find your radical middle." [41:33]
Listener Spotlight: Bill of the Week
[43:18 - 48:09]
A heartfelt segment where listener Katie shares her positive experience with pet insurance covering unexpected veterinary bills, highlighting the importance of proactive financial planning.
Katie: "My pet insurance covered 80% of the vet bills after her dog was attacked, and the neighbor contributed $200. It's rare things go the way they should, and I'm grateful." [43:18]
Jill: "Gratitude for the neighbor and pet insurance. Your dog is better, and the bill didn't become overwhelming." [45:49]
Lightning Round: Hosts' Personal No-Spend Practices
[49:07 - 57:14]
Goldie poses a question about the hosts' own no-spend experiences, prompting candid responses.
Tom: "I haven't done a no spend week or month since we were paying off debt in July 2017." [49:26]
Jill: "I use the no spend concept to focus on specific goals, like cooking at home to save for renovations. It includes planned outings and avoids deprivation." [51:34]
Jen: "Our approach is flexible. We use tools like our spending planner and book, ensuring the no spend challenge serves its purpose without becoming an extreme." [54:14]
Closing Remarks and Resources
[57:14 - 68:09]
Jen and Jill wrap up the episode by promoting their book, "Buy What You Love Without Going Broke", and encouraging listeners to utilize their YouTube channel for additional resources. They emphasize the importance of adapting financial tools to individual needs and maintaining a balanced approach to spending.
Jill: "Factor in money to celebrate accomplishments. It helps maintain the benefits of the challenge." [53:47]
Tom: "We hope this episode helped you figure out what a no Spend Challenge is and if it's right for you." [54:13]
Jen: "If you're liking this podcast, please leave us a rating and review. Subscribe to our YouTube channel for more tips." [57:02]
Notable Quotes
- Tom Yamas: "It's not just about deprivation, it's about creativity and filling in the gaps in other ways." [16:10]
- Jill Sirianni: "Discretionary spending isn't eliminated forever; it's about making mindful choices." [24:15]
- Tom Yamas: "A no spend challenge is a tool, not a lifestyle. Use it when necessary to gain clarity." [41:33]
Final Thoughts
This episode of the Frugal Friends Podcast offers a balanced perspective on no-spend challenges, celebrating their potential to transform one's financial habits while cautioning against common mistakes. By intertwining practical advice with personal experiences and listener stories, Jen and Jill provide a comprehensive guide for anyone considering a no-spend challenge. Whether you're looking to save for a specific goal, build better spending habits, or simply gain financial clarity, this episode equips you with the knowledge to make informed decisions tailored to your unique situation.
For more resources and detailed strategies, listeners are encouraged to explore their spending planner and check out their book, "Buy What You Love Without Going Broke", available at buywhatyoulovebook.com.
Stay tuned for more episodes aimed at helping you save money, reduce debt, and achieve financial independence with a touch of humor and camaraderie.