Welcome to the
No Spend November Challenge

Thirty days of abstinence
Only essential bills & food
No splashing out
Discover a new way of living
Make new habits
Heal your relationship with Money
Boost your financial position

Are YOU ready?

We will be editing the content of this page regularly so remember to revisit for more tips. If you have any questions or suggestions then get in touch - we would love to hear your feedback....

Why Launch this Challenge?

When you think of a No Spend Challenge, you think ‘it’s all about saving money’. Well, yes... that is a typical outcome of the challenge but it’s not the only reason to take part. Over time we build financial habits, some good, some not so good. Habits are formed in many ways and can be triggered by emotions (think of the way people comfort eat - we do the same with spending). Taking part in No Spend November gives you the opportunity to identify your habits and understand your emotional triggers. It will boost your savings but the real wealth is in understanding what makes you tick financially. With that knowledge you can improve your long term financial outlook. Bookmark this page and return to it throughout the month - we are with you every step of the way and will be giving you tips to help rejuvenate your mindset. You've got this! (Don't worry if you missed the start date on 1st November, start today, tomorrow, Monday ...)

The Rules:

One

Spending is limited to Essential Bills. You can, of course, pay your rent, your electricity bill, council tax, water rates, home / pet / life insurance etc plus any bills for which you are under contract such as a mobile contract, gym membership etc where you are obliged to pay.

Two

Three

Set your budget for groceries. Our recommended budget is £25 per person per week as this should be enough to eat healthily. Everything you eat must be home made and come from within this budget.

Everything else you do must be free. Walk or cycle rather than drive if the journey is under 5 miles; all entertainment must be free; no eating out or takeaways; no treats. This challenge is hardcore and we will be with you every step of the way. Start thinking now about how you will adapt.

Resisting Temptation

It's all very well setting rules but habits can be tough to break. Resisting temptation is much easier when access to temptation is removed. You wouldn't fill your trolley with biscuits and cakes if you wanted to start a diet would you?

The challenge is easier if you disable your payment apps and leave your credit and debit cards at home. Unsubscribe from mailing lists for your favourite shops so you don't get tempting emails too. 'I can't go out of the house without money!' I hear you cry. Then try putting an 'emergency tenner' in your phone case so you will never be stranded - the key is to still have that same tenner at the end of November.

No spend does NOT mean no fun!

There are literally hundreds of ways to enjoy no spend activities. Here are some of my favourite no spend things to do:

Guided tour of an exhibition or a free walk & draw event at my local art gallery
Park Runs (and Park Yoga in the Summer)
Free Foraging walk run by the local Council's Healthy Spaces team
Walx Nordic Walking events
Owl walks, Kayaking and Paddleboarding run by the Canal River Trust
Craft activities at local libraries and galleries
Starting a supper club with friends where we each take a dish
RAF Cosford Aerospace Museum (free admission)

Use the No Spend Challenge to broaden your horizons and try new things. See what's on locally through your council's website; through Eventbrite (filter on area and 'free'); Canal River Trust; Check out the Being Human Festival; The Birmingham Film Festival; Check out local parks and greenspaces and look out for community based activities. If you are in Walsall, then our Financial Wellbeing FB Page lists free things to do locally.

What do you really want?

Breaking your money habits and changing your relationship with money is easier to do when you have a purpose. Take the opportunity now to think about the things you want to do, or to achieve, in life. Picture them clearly, imagine how good it will feel to reach those goals. Write them down in detail and make them SMART (Specific, Measurable, Achievable, Relevant and Time bound). When you're tempted to spend look at what you were tempted to purchase and ask yourself, 'what is more important to me, buying this (object) or achieving my goal?'

Journaling to reveal your triggers

Unlock the key to your future financial success

It’s all very well creating a budget for your finances, but how hard do you find sticking to that budget? For pretty much the same reason many dieters fail to stick to their eating regime, our emotions and habits, formed over many years, can derail our budgeting goals. It’s not a case of being weak willed, it’s because there are often underlying elements that we’re not addressing. No spend November sees you going ‘cold turkey’ to unlock the key to your spending habits, you need some way of capturing and analysing when, where and why you are tempted to sabotage your plans. Journaling is a useful tool to help you record what’s going on. It’s not just about making a note of things as they happen, it’s about getting to the root of why it’s happening.

Let me give you an example: It’s been a busy day, you’ve been running around working, doing errands, taking care of everyone else, you’re running late and you feel exhausted. You think ‘sod it, let’s just get a takeaway for dinner’. Finding out what everyone wants, phoning through to a constantly engaged line, going down to the shop to fetch the food or logging on to the computer and ordering probably takes more time and effort than whipping up a stir fry. The question is, why do you want the take away so much? It’s not easier, it’s not cheaper....

Could it be that you need to learn to say no to some of the things that are zapping your energy? Could it be that you are doing it out of a need to be looked after rather than you looking after everyone else? It’s this habit or emotion you need to record in your journal.

The 5 Whys technique

If you're struggling to get to the root of a problem try this technique - it involves asking yourself why? five times.

An example:

I craving a coffee at my favourite coffee shop... Why?

Because I need a break.... Why?

My last meeting was tough and I want to rest.... Why?

I was up late last night and didn't prepare well.... Why?

My bestie called and was on the phone for ages.... Why?

I didn't have the heart to say I was busy and needed an early night.

Using this technique can help us uncover some of the actions we need to take or skills we need to build to become more resilient.

Eating Well

Eating on a budget doesn't mean sacrificing healthy eating. Here are some tips and resources that might help:

Planning before you shop is key
Check out what food's in the house and build that in to your meal plan.
Experiment with new recipes. Jack Monroe is the queen of cooking on a budget; many supermarkets' recipe pages, the BBC website and a few celebrity chefs have budget meal plans. Some of our favourites are Joe Wicks and Jamie Oliver.
Eating out at restaurants may be off the cards during the challenge but a romantic picnic or hosting a budget friendly meal for friends and family could prove to be lots of fun.
Get into batch cooking - having a stash of your favourite meals in the freezer helps when you have a takeaway craving and batch cooking also uses less energy (both the fuel bill and your own effort!).

Nature is your no spend friend

Stepping out into nature, even on the greyest days, for as little as 10-20 minutes will trigger the release of endorphins. These are our natural mood boosters, they are associated with pleasure and with pain relief. At this time of year the vibrant colours and crisp air can be spectacular.

Add to the experience by taking a flask of tea or coffee and a packed lunch. Invite a friend along (two legged or four legged). Your stress levels will be lowered and your mind will feel clearer. Try not to let your mind race, focus on the sensation of the ground beneath your feet, the breeze on your face, the sights and sounds around you. There - you're feeling better just thinking about it aren't you?

Take time out to quieten your mind

Changing habits takes energy and focus. When our minds race it can be difficult to maintain control. Even five minutes of stillness can help us to reset.

If you haven't tried mindfulness or breathing techniques before why not give them a go. These techniques can help you lower your stress levels and give you the time to observe your feelings and emotions. It's not all about turning off the thoughts, it's about standing back from them and seeing what's going on in your mind.

It's all about no spend right? Well the app, insight timer, is free to use and has a great range of options - experiment until you find the one that works for you. There are also talks and music.

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Thank you! We will get back to you as soon as possible.

Telephone: 07730 892 167

E-mail: enquiries@thewealththerapist.co.uk

Have a question or suggestion? We'd love to hear from you. Please do let us know how you're finding the challenge so far and if there are any things you're struggling with.

Welcome to the No Spend November Challenge