How to be successful with the 'No Spend Challenge' and change the way you think about your spending

PHILADELPHIA (WPVI) -- A new viral challenge is hoping to help improve your spending habits.

It's called the "No Spend" or "No Buy" Challenge and it's a simple commitment to stop spending.

Some people are doing it for an entire year, but you can do it for just one month, a week or even one day. No matter how long you're doing it, we have tips on how to successfully take on the challenge.

"I'm a recovering shopaholic and not buying clothes for the rest of the year scares me," said one woman on TikTok.

Her TikTok video has tens of thousands of views as she announces she is taking on the "No Spend" challenge. And a growing number of other consumers are posting on social media as well.

You make up your own rules, but things usually forbidden include eating out and buying a cup of coffee, clothes, or any non-necessity item.

One TikTokker's tip is no window shopping, not even online shopping.

Tip two is unfollow influencers who tempt you to buy. Also shop in your own closet - a wardrobe app can help refresh your outfits.

Other tips include challenging yourself to find free activities and products and find an accountability partner.

Start slowly and maybe incorporate a "low spend" week instead of a "no spend" week. Also, give yourself grace if you slip.

"You have to remember that the purpose of a no buy is to rewrite your relationship with spending overall so that you can build sustainable shopping habits in the future," said one TikTok user.

This is also a great opportunity for the next generation.

"If we can instill better habits when kids are younger, that's where we really make can make a difference," said Gregg Murset, Certified Financial Planner and CEO of the BusyKid App.

So, invite your children to join the challenge.

"We did it in September, as a family. We called it Slim September," he said.

Be prepared for initial pushback, but Murset said once his children got on board, they were the task masters.

"They were the police of Slim September. They're like, we wait remember, we're trying not to do that," he said. "And it was amazing how much money we saved."

To get started, you can print a free spending tracker from LifeWithLessMess.com.

Color each bubble green on the days you've been successful and mark days red when you're not.