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HMM 121: The Impact Of No Spend Challenges With Nicole Hatcher

HMM 121: The Impact Of No Spend Challenges With Nicole Hatcher


Have you heard of “no spend” challenges? It is a way to temporarily stop spending money to inject some cash flow in your financial life. This week Nicole Hatcher not only shares how she has incorporated “no spend” challenges into her life, BUT her fabulous debt pay off story as well.

What you’ll learn about in today’s episode:

  • The exact steps she took to pay off $90k in 6 years
  • Why she has an “I deserve it fund” and how that has helped her
  • What kind of “no spend challenges” she has done and what has resulted from it.  
  • Why being hypervigilant with her budget has posed a challenge for her

Nicole’s Money Story

For Nicole, she grew up in Baltimore, Maryland and her parents had her at a very young age. Her parents worked blue collar jobs while growing up. Even though Nicole’s parents didn’t sit her down and have a money conversation with her, she did learn a lot of valuable lessons while growing up and observing her parents. The first being, she learned the value of hard work. Early on, Nicole also learned the difference between needs versus wants and being able to pay out of pocket and not relying on credit to live the life you want.

Nicole’s Debt Pay-off Story

Nicole’s debt consisted of student loan debt. She admits to me that she made the mistake of financing a car and racking up student loan debt. Since she lived in an inner-city, she looked at education as a way to better her situation. Nicole gathered $30K in just her undergrad alone, but she was so focused on accomplishing her educational goals that she didn’t want to tally up the final number until graduation. How did Nicole payoff $90K in 6 years? She did the following:

  • Started budgeting consistently
  • Increased her income
  • Didn’t elevate her lifestyle
  • Challenged herself with various “no spend” challenges

Her Money Matters Because…

“It’s a tool to live the type of life you want to live.”


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Abrazos + Much Love,


P.S. THANK YOU for listening!

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