4 Ways You Can Succeed at No-Spend November

posted on Friday, November 13, 2020 in Financial Tips

No-Spend November is a money-saving trend that’s been going around on social media for quite some time. The rule is simple—you can only spend on the essentials. How long you do the challenge will depend on you. It could be within the first two weeks, or you can take it a step further and do the entire 30 days. This will not only help you save money; it’ll also train you to be more financially responsible. Read on to find out how you can overcome this challenge.

Determine What Is Essential for You

Before you embark on this no spending journey, create a list of items you consider essential. This can vary from person to person. For instance, someone with a car will include gas, as opposed to someone who commutes. But some things you might want to prioritize are monthly bills, groceries, and medical expenses.

Plan Your Meals

The cost of eating out and ordering takeout can burn a hole in your monthly budget. You can prevent this by planning your meals for the week and stocking up on enough food. If you find yourself craving pizza on a Friday night, a great workaround is to make it at home. There are tons of delicious and budget-friendly recipes that you can find online.

Cancel Your Email Subscriptions

One way to succeed in this challenge is by eliminating temptations. Those daily email subscriptions from online retailers are one of them. Just for November, unsubscribe or turn off your alert notifications.

Take Advantage of Coupons and Gift Cards

With the holidays just around the corner, so are giving gifts and attending social gatherings. But this doesn’t mean you have to spend. This is the time to bring out those gift cards that you’ve stashed away. You can also browse magazines and newspapers for coupons. As long as you don’t spend even a cent, you are still in the clear.

Manage Your Finances Better!

At Community 1st Credit Union, there’s nothing we want more than to help you reach your financial goals. That’s why we provide different types of savings accounts designed for a variety of purposes. You’ll also be able to manage your funds in the comfort of your home through our mobile banking app. For more information on our services, don’t hesitate to reach out to us today.