Monday Matters: Should you do a ‘No spend November’ challenge next month?

Last week, I was talking to my other half about what an expensive month October has been for me. Firstly, it’s my husband’s birthday on Halloween, and, although I haven’t bought him too many presents, I like to get him something that he really wants and at least a couple of surprises as well. Secondly, an incident occurred with my much loved and well used Kindle. In our house, we have quite a lot of plants and we have an issue with tiny, little compost flies, which, as their name suggests, tend to live in the soil of our plants but also like to venture out around our rooms, gravitating towards anything they like the look of. One landed on the screen of my Kindle when I was reading and I whacked it with my hand. Unfortunately, my wedding and engagement rings also hit the screen and fractured it in several places in the very centre, causing the backlight to shine through. So, because I read my kindle on a daily basis, I had to purchase a replacement straightaway and that was an unexpected expense (well, obviously I could have managed for the time being but I love reading so…). Finally, my craft room tends to get a little cold in the autumn and winter months so I have added to my collection of jumpers to keep me warm.

My husband suggested that I do a ‘no spend November’ and I thought, “Ooooh, that has a nice ring to it, surely he hasn’t just made that up?” and sure enough, I Googled it, and it is already an actual thing. I read up on the basic premise as obviously the month can’t be entirely expense free (I’m pretty sure HSBC won’t be impressed if we don’t bother paying our mortgage next month and it won’t be much fun if we let the cupboard go bare and have nothing to eat!) and so I thought I’d share what I learnt in case you want to know more or join me in the challenge.

Let’s get to it…

What is ‘No spend November’?

Basically, ‘No spend November’ is a way of saving money by only purchasing things that are absolutely necessary. The goal of the challenge is to save more, make better spending decisions and to live more simply throughout the month. It’s considered an ideal time to reign in your spending as you’ll avoid buying unnecessary ‘bargains’ during the Black Friday period and it will help you to save a little (or maybe even a lot) for the festive period.

You can plan for the challenge to last the whole month, or you can identify a shorter period of no spend time in November – say for a week or a fortnight. You could also choose certain days of the week as no spend days such as weekends or Fridays. If you found it fun or helpful, you could also repeat the challenge at another time, such as when trying to save up for a holiday or a special event.

Essentials to continue to spend money on

Obviously, no spend doesn’t literally mean no money coming out of your bank account, but it does mean keeping costs to just the absolute essentials. What you class as essential will be very personal to you and will differ for each individual doing the challenge. Here’s what you might include but might include:

• rent or mortgage payments
• utilities such as gas, electric, Internet
• taxes e.g. council tax
• groceries
• childcare
• insurance payments such as health, life, car etc
• phone top ups or phone bill
• fuel or other car expenses
• memberships that are on direct debit
• things that absolutely need to be fixed straight away such as a broken washing machine or things that fall in to complete disrepair and need replacing
• newspapers and magazines (except free ones)

For me, my gym subscription is an essential as it is a key part of my routine and going to classes and talking to others is one of the ways I keep myself well mentally as well as physically.

Non-essentials you might choose NOT to spend money on

Again, this differs from person to person, but some examples include:

• takeaways
• coffee shop coffee
• cake from a cafe
• meals out
• craft supplies
• hobbies
• branded toiletries and cosmetics
• entertainment (try visiting free events or go for a walk in your local park)
• branded groceries or premium selections at the supermarket
• clothing
• shoes
• impulse purchases
• seasonal decor items
• lunch from a sandwich shop – make your own packed lunch!
• books – borrow some from the library instead, read some already purchased novels on your Kindle or re-read favourites

Reasons why you might choose to do a ‘No Spend November’ challenge

• you overspent last month and so want to have a light spend month
• you really want to assess your finances and become more in control of your money
• you want to save money ready for the festive period itself
• you like to choose Christmas gifts during the month of December
• you plan to class Christmas gifts for family and friends as part of your essential spending
• you want to be more intentional with your spending
• you would like to do more home cooking and having a takeaway free month will facilitate this
• you want to cut down on luxury items such as expensive toiletries and make up items in favour of choosing simple products like supermarket and chemist own brand items
• You are a creative crafts type and want to encourage yourself to complete projects you are already working on or use materials you already own such as stickers, papers, yarns, fabrics etc
• You have a debt to pay off and having a no spend month seems like an ideal way to do it

Reasons why you might not want to do a ‘No Spend November’

• You have plenty of money for essentials and luxuries so saving and cutting down on spending doesn’t really feel like a priority right now
• You have a list of items you want to get in the Black Friday sales and you know you are capable of sticking to that list and not buying things on impulse
• You’re already pretty pleased with the state of your finances and you rarely purchase luxury items anyway
• You want to try the challenge but at a different time of year, for example January of next year
• You don’t see the point of the challenge for you personally
• You feel totally unprepared for such as challenge and know that you won’t keep up with it so why start!

A few tips for a successful ‘No Spend November’

• Record your why – why have you decided to do the challenge? what do you hope to get out of doing it?
• Make two lists – one of essentials that you will spend money on and the other non-essentials or luxury items which you agree not to buy
• Let others know that you are doing the challenge – explain to your partner, tell the kids and explain why the challenge is important to you, tell your friends so they don’t wonder why you are saying no to big night’s out and coffee catch ups.
• Make a meal plan each week and then create a shopping list based on it
• Create a picnic of homemade and home-prepared items for your free days out e.g. cheese and tomato sandwiches, chopped vegetables such as carrot or cucumber sticks with hummus for dipping, crisps from a multipack or decanted from a large bag, homemade scones, cakes or a traybake
• record your expenses and see how they compare to other months – write down how much you think you’ve saved
• plan some fun nights and days in – maybe have a pamper day or a games night, suggest friends come around for tea / coffee and each bring a sweet treat
• make a list of things you were tempted to buy during the month and journal about why
• seek out alternatives to more expensive grocery items e.g. supermarket own brand, budget range items etc

Final words…

So, who’s going to join me for a ‘No Spend November’ and who’s horrified by the idea? If you would like to curb your spending, I would love to hear what category of non-essentials has the most negative impact on your finances and which items you will struggle not to spend on. Let me know in the comments. Mine has to be craft related items or coffees from cafes I think although I may prove myself wrong when I start doing the challenge. Also, I think I may have to identify Christmas presents for others as essential if I see something that is just perfect when I’m out and about!