Discoveries Magazine May 2024

Say "No" To Spending!

What can people do to save money?

no-spend year. Hanson wants to save $15,000 dollars. She also

wants to learn to be more careful with money. She's excited to
stop spending money on unnecessary items. During a no-spend
year, finding ways to have fun can be challenging. Hanson
n
finds free activities for her family, such as visiting local parks

and beaches.

Does a year seem like a big commitment? Try a no-spend

month, or even week, instead. McGagh believes it is a chance to
tlearn about what's truly important in life. "A year of no
spending has taught me what things I really need," says

McGagh "and it really isn't that much."

Journalist Michelle McGagh is from London, England. About

ten years ago, McGagh decided to pay off her mortgage early.
So, she made a plan to save money. For one year, McGagh spent
money only on things she really needed. During her "no-spend"
"year, McGagh managed to save almost $28,000 dollars! Back
then, McGagh's plan seemed quite unusual. But since then, the
no-spend trend has really taken off. Are you interested in a
no-spend year? First, make a list of things you must spend
money on. These are things such as groceries, rent, and
electricity bills. Then, make a list of things you may not spend
money on. This might mean not going to restaurants or buying
new clothes. Each person's lists will be different, but the idea is
the same - to spend as little money as possible. McGagh says
that having a plan also helped her pay more attention to where

her money was going.

Every no-spend year needs a goal. Recently, 35-year-old

Courtney Hanson from Florida, USA, started a

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Discoveries Magazine May 2024

Questions for Say "No" To Spending!

1. According to the article, no-spend years...

help you learn how to manage money better.

are currently popular.

can be difficult.

All of the above

2. What is NOT something we learn about Michelle McGagh?

How long it took her to save almost $28,000

Why she tried a no-spend year

How much her house cost

What she thinks about no-spend years

3. In the article, electricity is used as an example of something people...

need to spend money on.

should never spend money on.

can pay for once a year.

need to save up money for.

4. What is one of Courtney Hanson's goals for her no-spend year?

To shop for groceries less often

To save $15,000

To take classes on money habits

To use very little electricity and water

5. What do you think Michelle McGagh means when she says, "A year of no spending has taught me what things I really need"?

She needs to make more money.

She wants to spend more time at the beach.

She doesn't need a lot of things.

She needs to meet more people.

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