Want to end the month with more money in the bank? You must read this.
- November is often an expensive month as people start their holiday shopping, but you don’t have to end the month with a bloated budget.
- These techniques can help you save more this month rather than overspending.
- Look for ways to cut your Thanksgiving spending, consider your Black Friday shopping, and try to participate in “No-Spend November.”
November officially marks the start of the holiday season for many people. This may mean pulling out the credit cards to start buying all kinds of items that are eating into your budget.
But you don’t have to end the month with less money than you started. In fact, there are four techniques you could try that will save you more during this month. Here is what they are.
1. Reduce your Thanksgiving spending
Thanksgiving can be an expensive holiday after factoring in the cost of groceries and decorations. This is especially true this year, as the price of many food items has risen significantly from last year thanks to soaring inflation.
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But you can still have an amazing vacation at an affordable price if you’re smart about how you do it. If you want to save money on Thanksgiving festivities, consider:
- Decoration shopping at the Dollar Tree: It stocks a surprising number of attractive seasonal items that you could buy for between $1 and $1.25.
- Buy groceries with coupons and take advantage of special promotions: Many stores offer a free turkey if you spend enough in the months leading up to the holidays. You can also look for manufacturer coupons on Thanksgiving sides and staples online or in the Sunday paper.
- Make it a potluck: Ask guests to each bring one of the traditional dishes so you don’t have to buy everything yourself.
Black Friday is a day of huge spending, but it also offers the opportunity to save. Of course, you can simply ignore the purchases and pocket the money you would have spent. But, a better approach may be to carefully review your holiday wish list and the items you need to buy throughout the year.
If you can get plenty of essentials that you’ll have to buy anyway, shelling out the cash to buy it on Black Friday could end up saving you money in the long run.
3. Adjust your thermostat
The weather is changing and electricity and heating fuels are more expensive this year in many parts of the country. If you want to save more money this month, consider turning down your thermostat to make your home a little cooler. You can always throw on a sweater or add an extra blanket to your bed, and lowering your energy costs could give you a lot more money to spend on other things.
4. Participate in the month of November “No-Spend”
Finally, if you really want to maximize your savings, you can pledge to participate in No Spend November. This is a financial challenge that many people participate in at this time of year where you commit to buying only the essentials for the entire month.
If you take this approach, not only could forgoing non-essential expenses help you cut costs this month, it could also get you out of the consumer mindset and save you more money. money throughout the year.
Each of these techniques could go a long way to helping you save more, so give them a try and see if they work well for you.
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