BOWLING GREEN, Ky. (WBKO) – September has been gaining traction as a challenge to cut out unnecessary purchases for an entire month.
‘No Spend September’ has become popular on social media and is a time to spend money on necessities, but to build long-term financial habits.
“The big idea is to help people start learning how to get a little bit more control of their expenditures and maximize their income,” explains Western Kentucky University finance professor Zachary Jones. “The question becomes, what’s really important for you to actually spend money on?”
Deciding on financial goals and making sure your budget aligns with those goals is key. Jones says short-term desires can hold you back from future opportunities.
“We call it opportunity costs, like people have to remember anytime you say yes to spending money, you’re saying no to some potential opportunity in the future,” he explained. “…So, if there’s a lot of small yeses all the time and never any noes, then you’re going to end up in a situation where the big things that are really important you may not have enough money for.”
‘No Spend September’ can be utilized as an introduction to saying no, but experts say you have to keep those habits. At the end of September, Jones says the money saved should be used towards an emergency fund, high-interest debt, or even a small reward.
Jones emphasizes the importance of tracking finances and that ‘mental accounting’ is very hard to actually keep track of your money. Written budgets will keep you best aligned with your goals, whether that’s using apps, a spreadsheet, or even pen and paper.
If ‘No Spend September’ seems like too big a leap, there are smaller steps you can try instead. Looking at bank statements and writing out all expenses can help you gain a sense of where your money is going.
In addition, writing out financial goals can be a reasonable step if cutting spending immediately doesn’t seem like the right fit.
“I just think that a lot of times, getting control of your money. Yes, it does have something to do with what your true expenses are, and your income is, but a lot of times it’s more in our head and then the practical things like do we have a written budget,” Jones said.
He explains, exercising self-control and delayed gratification daily can help finances can be helped the most.
Copyright 2025 WBKO. All rights reserved.