I would be lying if I said I wasn’t looking forward to wrapping up our 12-month No Spend Challenge. I want to buy a new outfit or go out to dinner with my husband. My kids have been troopers, but the holes in my son’s jeans are not fashion statements. They need to be replaced. But we are waiting. We are trying hard to make it to the one year mark.

My husband recently posed an important question: Will stopping our spending in one year just make us spend more money the next year? I can’t answer this definitively yet, but my guess is yes and no. Yes, we will need to make some purchases that we have put off, like new clothes for everyone. But no, I don’t think we will spend everything we would have not spent. That sounds confusing.

Basically, let’s say that by not spending this year we save a total of $1000. Let’s imagine, for the sake of argument that we would spend another thousand in the year after the No Spend Challenge. So, if we were to truly spend the full amount in the second year then we would spend the $1000 we had not spent plus the $1000 we would normally spend for a total of $2000. However, I don’t think this is how it will play out. I think we may spend a little more, especially right away when the challenge ends, catching up on clothing purchases and a much-anticipated out-to-dinner date, but I don’t think our overall spending will increase by much over the course of the next year.

First, we have learned that we really don’t need some of the things we thought were important. By waiting to make purchases, large or small, we find out what really matters. What seems like a good idea one day may no longer be a consideration a few days or weeks later. If it is something we still need, then we can rest assured it is a legitimate expense rather than a spontaneous desire.

Second, we are more accustomed to asking ourselves the questions to determine a true need. While we won’t have to make purchases based solely on need in the new year (when the challenge ends), it will still be helpful for us to consider purchases carefully before making them. The more mindful we are with our money, the more we won’t spend frivolously.

Third, we are now completely an eat-at-home family. We are so used to making food at home now that we actually prefer it. We have had a few friends and family offer to pay for us to eat out, but it just seems wrong when we know we have perfectly good food waiting for us at home. Plus, we have discovered a few new recipes to make good food ourselves (specifically, my husband recently made cheesecake, pumpkin bread, and roasted his own pumpkin seeds).

Finally, we are more aware of what triggers our spending. After a tough day, I am more likely to want to eat out or go shopping. When I feel tired or chaotic, spending seems like a salve in the moment. However, it’s really not the best way to cope with stress and fatigue. As I explore and implement new habits, my desire to spend on non-essential items is diminished.

My husband asked a question that deserves to be answered, and only time will tell how how our No Spend year will affect our spending in the year that follows. Still, I believe we have learned some good lessons about ourselves and our financial habits that will continue to serve us even after the No Spend Challenge ends. I am looking forward to reaching the finish line, but I am also very thankful for the journey. Just two more months to go!

What do you think? How would you answer the question: Will stopping our spending in one year just make us spend more money the next year?