Chrissie Milan, a 25-year-old video producer from London, decided to embark on a “no-spend year” after realizing she was mindlessly wasting money on unnecessary purchases. She found that she was spending almost $200 per month on clothes, $300 per month on daily coffee and lunch, and over $100 on fancy dinners with friends. By eliminating these expenses, Milan believes she is saving over $600 a month, with a total expected saving of over $6,000 for the year.
Milan’s decision to cut out unnecessary spending came after a trip to Thailand, where she found that items such as smoothies were much cheaper compared to the prices in the UK. This realization made her reevaluate her spending habits and prioritize what she truly needed to spend money on. By taking a minimalist approach and focusing on what is truly important, Milan believes she is able to live a more fulfilling and financially responsible lifestyle.
One of the most significant changes Milan made was to stop buying clothes for the entire year of 2024, as she already had a wardrobe full of wearable items. Additionally, she stopped buying daily coffee on her way to work and opted to make meals at home instead of purchasing lunch every day at the office. By cutting out these expenses, Milan was able to save a significant amount of money each month, which she plans to put towards building a comfortable financial future.
While Milan admits that cutting out daily lunches at the office was the hardest part of her no-spend year, she found ways to cope with the challenges. Meal prepping and planning ahead became essential strategies for her to stay on track with her spending goals. Despite facing some setbacks along the way, Milan remained committed to her goal of saving money and challenging her spending habits to secure a more stable financial situation for the future.
By prioritizing experiences over material possessions, Milan found that she did not miss going out for dinners with friends and instead preferred to engage in cheaper activities with her pals. This shift in mindset allowed her to focus on what truly brought her happiness, rather than relying on extravagant purchases for fulfillment. Milan believes that the money she is saving from her no-spend year will provide her with a safety net for unexpected expenses and potentially be invested for future financial growth.
In conclusion, Chrissie Milan’s decision to cut down on unnecessary spending and focus on saving has allowed her to take control of her finances and build a more stable financial future. By analyzing her spending habits and cutting out frivolous purchases, Milan was able to save over $600 per month and is on track to save over $6,000 for the year. Through her minimalist approach to spending and commitment to challenging her financial habits, Milan has set herself up for long-term financial success and prioritized her financial well-being over unnecessary expenses.
