36 Things to Do Instead of Spending Money (2024)

FAQs

What are things to do without spending money? ›

Consider putting it in a high yield savings or money market account, which typically earn more interest than a traditional savings account. Having an emergency fund means that there's a supply of cash at the ready, so you don't have to use a credit card or tap your retirement fund if you encounter an unexpected event.

The 50-30-20 rule recommends putting 50% of your money toward needs, 30% toward wants, and 20% toward savings. The savings category also includes money you will need to realize your future goals.

For the no-spend challenge, you pay for essentials only for a set period of time. Thirty days is pretty common, so you might hear it called a no-spend month too. Basically you're covering your Four Walls (food, utilities, shelter and transportation) and other necessities, but you're saying no to all the extras.

Give 15% of Every Paycheck to Your Future Self

Once you're free of debt and sitting on enough savings to survive at least a quarter of a year, Ramsey says the most important thing you can do with your paycheck is to save 15% of it — each and every pay period — in a tax-advantaged account.

The wealthy invest in retirement consistently, and they also invest in education. They take care of their health and, more often than not, pay their healthcare bills without incurring medical debt. They also tend to purchase high-quality products and food.

What are the 5 things to buy to be happier? ›

After basic needs are met, science confirms that intentional purchasing in areas like experiences, health activities, time efficiency services, hobbies, and education provides more well-being than material goods.

The “no-spend” challenge has been around for years but gained new life in 2024, thanks to TikTok and No Spend January at the beginning of the year. Participants are encouraged to go on a spending “fast” by abstaining from buying anything but the barest essentials.

The No-Spend Challenge isn't giving up all spending, again it's nonessentials. You need to pay the bills and buy important things that pop up (like groceries or school supplies, or even a new heater if yours goes out). The goal is to challenge yourself to only spend on the essentials.

A no-spend challenge is when you don't spend money on any nonessential items for a set period of time. The goal of this challenge is to limit your spending to basic living expenses to save money. For example, you'll still be able to buy groceries, but you'd skip the coffee shop.

Overspending can happen for different reasons, such as: You might spend to make yourself feel better. Some people describe this as feeling like a temporary high. If you experience symptoms like mania or hypomania, you might spend more money or make impulsive financial decisions.

Answer. The word closest in meaning to what you want is spendthrift. Spendthrift is a noun that means "a person who spends money in a careless or wasteful way."