The ‘no-spend’ challenge is currently sweeping TikTok, a trend which involves cutting back on non-essential spending for a week, fortnight, or even a whole month.

That means no takeaways, no impulse shopping sprees, no “just popping in” purchases. Essentials like rent, bills, and groceries are still permitted, but everything else is put on pause.

While some see it as a powerful way to gain back control of their financial habits, others worry we’re clinging onto our money too tightly, and treats shouldn’t be demonised.

According to Mindy Paul, wealth and mindset coach, it could be one of the best ways to reboot your relationship with money, as long as you do it the right way.

Mindy shared his tips for mastering the no-spend challenge and transforming your finances from dwindling to thriving.

Why are so many people taking the challenge?

“People are really feeling the financial crunch right now. Bills are soaring, everyday expenses are on the rise, and over 15% of UK adults are grappling with debt.

“We’re also becoming increasingly aware of our overconsumption. From clothes piling up in our wardrobes to endless ‘must-purchase’ solutions for problems we’ve managed with for years being marketed to us, we’re facing a consumption crisis.

“With all of this in mind, it’s no wonder we’re feeling out of control with our money. No-spend challenges are being used to reset our mindsets and remind ourselves that constant spending isn’t necessary for a happy, fulfilling life.

“By removing the option to spend on autopilot, people start noticing their bad habits. You realise how often you buy to cope and distract yourself. The challenge reveals what’s underneath.”

Is it just a temporary fix?

Sceptics argue that a short-term spending cap doesn’t help us foster better habits in the long term, but Mindy disagrees.

“The power in this trend doesn’t just lie in how long you go without spending, but what you learn about yourself in the process.

“Think of it like a detox. Just like cutting out junk food shows you how much you rely on it, and how much better you feel without it, a no-spend week pulls the curtain back on your emotional attachment to spending.”

Who benefits the most from a no-spend challenge?

“Anyone feeling out of control with money will benefit. Whether you’re wealthy or struggling, you should consider taking this eye-opening step.

“It can be really helpful in achieving a range of financial goals, from building your savings to recovering from hardships.

“If you’ve ever said, ‘I don’t know where my money has gone this month,’ this challenge will show you just how much you’re unnecessarily spending.”

How to make the no-spend challenge a success

“My first recommendation would be to enter the challenge with intention. Why are you doing this? Is it to save for a specific goal, break bad habits, or just work out the reason your bank balance is depleting so quickly?

“Hold yourself accountable and stick to your plan. Keep in mind these goals and intentions throughout the whole process to avoid any ‘I’ll just cave in this one time’ moments.

“If you do happen to slip up, don’t let this make you give up on the challenge altogether. Pick yourself up and continue working towards your ambitions.

“Take the challenge at your own pace, and define what no-spending really means for you. What works for you might not work for someone else, and vice versa.

“The most important thing to track in this process is your urges, not just your spending. Each time you get the impulse to buy clothes or fast food, don’t suppress it. Take the time to feel it, reflect, and even consider writing down what triggered the urge.

“The self-awareness you’ll build in this process is far more valuable than any ‘feel-good’ purchase.”