A couple saved $11k doing a "no spend year" - by cancelling Netflix and Disney plus subscriptions and ditching meals out.<br /><br />Brighton Peachey, 33, and her husband, Michael Hofer, 36, a medical resident, decided to overhaul their finances after they realised they were living paycheck to paycheck.<br /><br />With Michael coming to the end of his studies in 2024, the pair realised they will have to pay back $120k in student loan bills - so needed to be smart with their money. <br /><br />The couple - who are parents to three children aged eight, six and three - also want to buy their own home in the future so cut back to be able to save up. <br /><br />During their no-spend year they continued to pay for essentials - such as rent, bills and groceries - but went without "luxuries" such as subscriptions, eating out, going to the barbers and expensive days out. <br /><br />They estimate they save $2000 every month - and say they've managed to save $11k overall so far. <br /><br />Brighton, an a content creator, from Portland, Maine, US, said: "As we were approaching this year, Michael was coming to the end of his medical training so we have a lot of bills.<br /><br />"We felt like we were living paycheck to paycheck. The month would roll around and we would be like 'where did our money go?'. <br /><br />"Last year I did four months of no spend.<br /><br />"Our motivation is to save money so we can start paying off our student loan debt and save for a house.<br /><br />"We went from saving no money each month and now we save around $2,000-a-month."<br /><br />With Michael coming to the end of his studies, the couple realised they will soon need to start paying off his student loan.<br /><br />Brighton said the couple also had $7k of credit card debt that they wanted to pay off before they started saving for a house.<br /><br />She said: "We got the idea to do this a few years ago and we have successfully done a no-spend January a few times.<br /><br />"We have only spent money on rent, food, gas and health insurance and really cut back everywhere else."<br /><br />Brighton said it was the small purchases would add up and made a big dint in their bank account.<br /><br />The couple used to spend $200 on subscriptions each month.<br /><br />Brighton said: "Our biggest problems were the small purchases - like meals out and subscriptions.<br /><br />"At the start of the year, we cancelled a bunch of subscriptions like Spotify, Audible, Hulu and HBO.<br /><br />"They were costing us $200-a-month."<br /><br />As well as giving up subscriptions, Brighton has stopped going for meals out - which would set them back £200-a-month.<br /><br />They have also given up having professional haircuts - which would set the family back around $100 every few months.<br /><br />Brighton said: "Eating out was a bit one, mostly for my husband. He commutes to work so he eats out a lot.<br /><br />"Instead we have started packing lunches at home.<br /><br />"We have also started doing our own haircuts at home which has stopped us from spending a lot of money.<br /><br />"The first time I did my husband's it wasn't great and it looked a little rough but the kid's haircuts have gone well.
