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Celebrate No Spend November

Lisett Comai-Legrand

Lisett Comai-Legrand About The Author

Nov 7, 2019 7:15:00 AM

November brings longer nights, shorter days and a time to reflect on all that we are grateful for. It's also the perfect time to shift our mindset about money and re-evaluate our financial situations. We encourage you to join in the No Spend November Challenge.

Here are four challenges to try during this No Spend November:

Challenge 1: Decide to Dine at Home this Month

According to Forbes, "at over $20 per serving on average, a restaurant delivered meal is five times as expensive as cooking at home from scratch." Eating a more satisfying meal at home will have your stomach and wallet thanking you. You could also try packing car snacks that will fill you up and prevent you from going through a drive through or make the decision to pack your lunch for the week instead of going out to eat.

Challenge 2: Start Planning Early for the Holidays

Try creating a spending plan so that you know how much you can afford this holiday season. Think about how you can break that number down for each person you're planning to buying for. It may be helpful to set money aside in a savings account or put $10-$20 per paycheck in an envelope dedicated to holiday purchases.

Celebrate No Spend November First Alliance Credit Union

Challenge 3: Rely on Cash for Your Holiday Spend

If you're someone who usually makes holiday purchases with credit cards, challenge yourself to rely on cash for your holiday spend. If your credit cards are out of sight they will be out of mind. Try hiding credit cards in an untouchable space like the freezer, in a locked safe, in the attic-somewhere that deters you from easily using credit.

Challenge 4: Declutter

November is a fantastic time to declutter and sell those items you may no longer use. Check out Amazon/Facebook Marketplace, Poshmark, Let Go, or a local consignment store. That way, you can get some holiday cash and make someone else's holiday merrier.

You can also create your own No Spend November challenges around budgeting, saving and debt consolidation. Happy No Spending!

Content courtesy of our partners at GreenPath Financial Wellness

We do our best to provide helpful information but we cannot guarantee the accuracy or completeness of the information presented in the article, under no circumstance does the information provided constitute legal advice. You are responsible for independently verifying the information if you intend to use it in any way. Additionally, the content is not intended to be reflective of First Alliance Credit Union’s products or services, for accurate and complete details about our product and service information you must speak to an advisor at First Alliance Credit Union.