Contrary to what many believe, Florida does experience seasons. We’re just a little behind the rest of the country.
Now that the temperature has finally dipped, pumpkin-spice lattes are reappearing, and leggings have reclaimed their throne as acceptable pants, we’re inching toward our somewhat laughable notion of winter.
For someone who endures scorching summer weather nearly year-round, that change is thrilling for plenty of reasons. It’s also a bit nerve-wracking.
The onset of winter means a slew of holidays — which often equals a lot of spending.
Gifts, big family dinners, outfits for holiday gatherings and winter weddings (yes, that’s a real Florida trend)… as much as I’m excited about the festivities, my bank account is quietly panicking.
So to avoid letting the season turn into a financial disaster and to sharpen my budgeting skills, I’ve decided to take the plunge.
This year I’m committing to a month-long spending freeze known as No Spend November.
What? Why? How? I get it — but here’s my game plan and how you can join if you’re feeling the same pre-holiday money jitters.
What is No Spend November?
The premise of this month-long experiment is straightforward: Don’t spend money on anything that isn’t essential.
By doing that, you’ll uncoverhidden leaks in your budget: those small, seemingly harmless expenses that nibble away at your finances and prevent you from saving for the future you want.
Take my favorite weekend habit — going to the movies. The ticket might be just eight dollars, right? Then there’s the popcorn (I can never resist it), and the new release next weekend.
Before I realize it, I’ve spent $50 over a month on this “cheap” pastime — even as I’m still chipping away at my car loan.
And that’s only a budget drain I’m already aware of.
By forcing myself to pause all nonessential purchases, No Spend November will expose other areas where my money slips away. Because it’s for a fixed, limited time, the sacrifices won’t feel too burdensome.
As for strategy, when it comes to No Spend November, youset your own boundaries. You determine what’s essential and which exceptions you’ll permit.
My rules are simple: aside from unavoidable bills, gas and groceries, I won’t spend any money during November.
No dining out, no drinks with friends, no spur-of-the-moment yoga classes — and, most daunting of all, no coffee-shop coffee. For an entire month.
Why on earth did I volunteer for this again?
Why I’m Doing No Spend November
To be honest, I know my budgeting issues go beyond splurging at the cinema.
Savinly confession time: I sometimes fall for that “It’s on sale!” mindset and buy things I would otherwise skip.
For example, a $600 round-trip fare sale to Dublin seemed irresistible. It was a flash deal, so I hopped on it.
Don’t get me wrong: the vacation was amazing.
But after renting a car, booking lodging, paying for food and covering everything else, I ended up spending nearly $3,000 — an amount I likely could have used for a more thoughtfully planned, all-inclusive trip.
Or take the (lovely!) bike I recently purchased. It was marked down to $120 from around $300 — how could I pass that up?
Then I bought an adorable basket to match it — because, obviously — and paid the local bike shop to properly assemble and inspect it, which pushed the total close to double the sale price.
Sales can quickly turn into costly mistakes if you don’t really need the item, or if the purchase triggers additional spending you hadn’t planned on.
So I’m using November — prime season for impulsive buying — to finally take control of my finances.
Along with the rules above, I’m capping my grocery spending at $100 per week. That covers everything — paper products, toiletries, pet food, the whole lot.
If there’s anything left over, I’ll let myself treat it as a little fun money… though given my current grocery habits, that’s doubtful.
Final rule: laundry money is exempt, because I already keep a stash of quarters set aside just for that.
Needless to say, this won’t be easy.
Things that make me happy about this plan:
- Six bottles of wine are already on the way thanks to an awesome Groupon I snagged, so that’s one stress off my plate.
- I’ve already bought my favorite seasonal trinket: cinnamon brooms (yes, plural — one big for the house and a tiny one for the car).
- I AM GOING TO SAVE A TON OF MONEY.
Things that have me a little worried:
- …This is a little embarrassing, but I’ve fallen into the routine of getting professional manicures and pedicures biweekly, and I’m dreading stopping them.
- I have a wedding in Miami this month. I’m allowing an exception — I’ll need to eat while traveling, and I refuse to skip a mojito and a Cuban sandwich — but I’m concerned the trip costs could eat into my no-spend gains.
- I was invited to a friend’s birthday night out in November that includes dinner and drinks. Do I skip the meal and show up later for drinks? Do I sneak a flask instead of buying a round? These social dilemmas complicate things.
My life just became slightly more intricate. Fortunately, it’s only for a month!
Want to Tighten Up Your Budget? Take the Challenge With Me!
There are plenty of reasons to give your finances a pre-holiday tune-up.
It could help you stash cash for gifts, kickstart a fiscally healthy new year or simply confirm that your budget is working.
No matter your motive, if you decide to try No Spend November, we’ll cheer you on.
I’ll chronicle my setbacks and wins this month and write a recap in December sharing what I discovered, but I’d be thrilled to swap real-time tips and frustrations with you.
If you’re joining in, share your rules, progress, gripes and lessons in our community Facebook group.
Also, if you want more ways to trim holiday spending and set goals, check out resources like no spend november savings and other save money challenges. If travel deals tempt you the way they tempt me, read up on smart planning with planning a trip to ireland.
Here’s to a revealing November — and a stronger budget for December and beyond.
Your Turn: Will you take on No Spend November? Connect with others in our community Facebook group!
Alex Monroe is a staff writer at Savinly who may be biting off more than they can chew with this no-spend idea. Find @AlexMonroe on Twitter to say hi.
