Financial tips to help you be more mindful of your spending

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 situation. That’s why GreenPath Financial Wellness is bringing back our No Spend November challenge! We will share financial tips every week so that you can be more mindful of your spending over the holidays.

Our goal is to support you with practical financial tools so that you can assess your situation and create financial goals for your family. These tools and resources can guide your financial decisions throughout the holidays and help you make a financial plan for a successful new year.

Each week, we will post on the GreenPath Financial Wellness blog section: No Spend November. These posts will also be shared on our Facebook, Instagram and Twitter pages. Make sure that you’re following our social channels and searching for the hashtag #NoSpendNovember.

Take the No Spend November pledge and share these tips with your friends and family all month long. Encourage each other to try something different so that you can take care of your family and feel good about your spending and saving choices. Use this time to reflect on small and simple changes that you can apply to your spending habits. Comment on our social media posts and let us know what changes you’ll be making for No Spend November. You’re not alone, we are here to support you.

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 try packing 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 for the holiday season. Think about how you can break that number down for each person you’re planning to buy 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.

Challenge 3: Stick to cash only.

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, under your deck, in the attic – somewhere that deters you from easily using credit.

Challenge 4: Sell items that no longer bring joy.

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

 

Need help creating a spending plan for No Spend November?

GreenPath Financial Wellness can assist you in assessing your financial situation. We work with thousands of people each week to pay off debt, improve credit and lead a financially healthy life. We can help you develop a plan to be more mindful of your spending. Join us in the No Spend November challenge.

Take the Pledge

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