Woman Saves £4,000 in Six Months with 'No Spend' Challenge
Aiming to improve her financial situation after being unable to afford a long-distance relationship, Mia Westrap embarked on a "no spend" challenge and successfully saved £4,000 in six months. At 26, Mia, a health and social care worker from Southampton, earning £2,100 per month, realized her spending habits were hindering her financial goals. She significantly reduced her expenditure by cancelling subscriptions and abstaining from alcohol and dining out.
Upon deciding to cut unnecessary expenses after her Australian boyfriend of six months returned home, Mia resorted to a strict budgeting plan. Her monthly spend included £200 on dining out and £100 on alcohol, funds she decided to reallocate towards savings. Setting an initial target to save £4,000 within a year to cover three months of living expenses, she surpassed her goal by June and increased her savings objective to £7,000 for the year.
Reflecting on her past spending, Mia expressed surprise at her unaccounted expenses, which included recurrent small purchases like coffees and meal deals. She candidly admitted to spending £3 to £4 daily on her Pepsi Max addiction, which summed up to £1,424 annually. Inspired by people who embraced no-spend years and influenced by her condition post-abdominal surgery in January, Mia seized the opportunity of being housebound to launch her no-spend journey.
Highlights of her adjustment to a frugal lifestyle involved limiting social expenditures. Her summer activities shifted from frequent pub and restaurant visits to picnics and home gatherings with friends. Despite these changes, Mia found her new routine fulfilling and her friends supportive. This narrative of transforming financial habits underscores the simplicity and thoughtfulness precipitously effected for savings and contentment.
Mia’s monthly expenses before committing to the no-spend challenge were significantly reduced: rent remained at £850, bills at £262, yet optional subscriptions dropped from £50 to £12.99 for Netflix, while she eliminated costs associated with dining out and alcohol. Documenting her fiscal evolution on TikTok via @miawestrap, Mia provides an insightful commentary on leading a minimalistic and financially conscious lifestyle.
Earlier, SSP wrote about a huge red flag: my boyfriend's strange request about hair raised concerns.