No Spend November is a personal finance challenge where participants commit to limiting or completely avoiding discretionary spending for the entire month of November. The goal is to become more mindful about spending habits, save money, and focus on financial goals, whether that’s saving for the holidays, paying down debt, or simply building better budgeting habits.
Here’s how it typically works:
- Essentials Only: For the month, you only spend on necessities like rent, utilities, groceries, and essential transportation. Anything else—think dining out, new clothes, or entertainment—is off-limits or significantly reduced.
- Setting Personal Goals: Some people may not cut all spending but set a specific goal, like reducing entertainment or limiting takeout. Others may also set daily or weekly spending caps to help them stay on track.
- Meal Prep and DIY Activities: To avoid spending on eating out or paid entertainment, participants often prepare meals at home, plan free family activities, or dive into DIY projects for fun.
- Focus on What You Have: The month is an opportunity to use what you already own, from cooking up pantry staples to enjoying board games, movie nights, or craft projects at home.
- Savings Evaluation: No Spend November can provide insight into spending habits and make it easier to see where money may be leaking. By the end of the month, participants often review what they saved and reassess their priorities for the future.
The challenge is popular because it can help people save extra cash, reset their relationship with money, and gain new appreciation for the things they already have. If you want to learn more about “No Spend November” read our previous blog on preparing for “No Spend November” here.
