Make “No Spend November” Part of Your Holiday Traditions

With the holidays around the corner, it can feel like there’s more pressure to spend than any other time in the year. Throughout November, we’re bombarded with advertisements for Black Friday deals, holiday gatherings and extra luxuries tempt us with the promise of making things extra sweet. Before you know it, small purchases can add up fast, cutting into your budget or adding credit card debt.

Instead of falling into the spending traps, think about joining the “No Spend November” movement: A month-long challenge to cut out non-essential spending. When you pair every skipped purchase with a deposit into your savings or another bill paid down, you’ll finish the month with more than good intentions. You’ll have a stronger financial cushion heading into the new year.

Whether you’re building an emergency fund, saving for holiday gifts, or working toward a bigger goal, here are five ways to make No Spend November work for your savings.

Set a Savings Goal Before You Start

No Spend November is easier to stick with when you know what you’re working toward. As you start on the challenge, decide where your savings will go: An emergency fund, holiday gifts, or paying down a credit card and set a dollar amount to aim for. Even a modest target gives every skipped purchase a purpose. If you need help creating a goal, the financial calculators on the SESLOC website can show you how quickly small amounts can add up.

Pay Yourself First with Automatic Savings

The easiest way to save is to make it automatic. By setting up a recurring transfer in Online Banking, you can move a set amount into savings every payday — before you have a chance to spend it. You can also boost savings by enrolling in Change it Up¹, which rounds your debit card purchases up to the nearest dollar and deposits the change into the savings account of your choice. And when you open a Save to Win Share Certificate² with a $25 minimum deposit and direct Change it Up into that account, you could win an additional prize.³

Turn Every Skipped Purchase into a Deposit

Cutting back is only half of the challenge. The other half is making sure that money doesn’t get spent somewhere else. For example: Each time you skip a coffee run, transfer that same amount into a savings account. A $5 coffee five days a week adds up to roughly $100 a month. The same goes for streaming subscriptions: If you cancel one you no longer use, set up a recurring transfer for the same amount so your budget doesn’t notice the difference.

Plan Ahead for Black Friday and Holiday Sales

With Thanksgiving and Black Friday around the corner, your No Spend November resolve will be tested quickly. The ease of online shopping makes it even harder. Two taps from the cart to payment can pile on debt quickly and crash a budget. Before the sales start, make your shopping list and decide in advance which purchases are truly planned. Incorporate that into your budget so you can shop with cash on hand instead of relying on credit. And remember: A sale only saves you money if you were planning to buy the item anyway. If you’re tempted by a deal you didn’t plan for, move that amount into savings instead. That’s a discount you’ll actually keep.

Make Your Necessary Spending Count with Rewards Points

No Spend November doesn’t mean no spending at all. You still need groceries and gas, while insurance bills, utilities and other essentials still need to be paid for. Reward your spending with the SESLOC Visa Signature ^® Rewards Card⁴ and your debit card linked to a SESLOC HomeFREE Checking account. Using the credit and debit cards earn SESLOC Rewards⁵ points, with bonus points at participating Local Rewards⁶ businesses. Redeem your points for cash into your account or save up your points towards gas discounts and the hottest merch. The choice is yours.

When it comes to No Spend November, balance is key. By cutting back on what you don’t need and putting that money to work, you can head into the holidays with less stress and a stronger financial foundation. And even after the holiday season, consider keeping your automatic transfers running. The habits you build this month can keep paying off all year long.

1: When you enroll in SESLOC’s Change It Up program, you understand that the amount of any SESLOC debit card purchase made by a cardholder issued a debit card associated with your checking account will round up to the next whole dollar and the excess of the purchase amount transferred into your selected savings account. If a debit card purchase is refunded or cancelled, the corresponding Change it Up transfer remains in your savings account. SESLOC may cancel or modify the SESLOC Change It Up service at any time without prior notice. Change it Up service is not available for business debit cards, and you may not transfer to a Consumer Money Market or Consumer Building Block Share Certificate Account.

2: Minimum balance required to open the account is $25.00. Additional restrictions apply. Early withdrawal incurs a penalty fee, with a limit of one withdrawal per 12-month term. Refer to the Save to Win Truth in Savings Disclosure and Official Account and Prize Entry Rules for additional terms, conditions, eligibility and restrictions that apply.

3: Limit one Save to Win 12-month Share Certificate per consumer member. The account is not available to businesses, including sole proprietors, trusts and organizations. Consumer member must be 18 years or older and a resident of California to participate in the Save to Win Savings Promotion. No purchase necessary. 12-month Share Certificate account will automatically renew upon maturity. Early withdrawal incurs a penalty fee, with a limit of one withdrawal per 12-month term. Must maintain an average daily balance of $25.00 for the account to remain open. Winners agree to permit SESLOC CU to use their likeness in promotional or their materials. Membership in good standing required for all Credit Union benefits. See the Member Account Agreement and Disclosure and Fee Schedule for additional terms, conditions and fees that apply to your account. Refer to SESLOC CU Save to Win Savings Promotion Official Account and Prize Entry Rules for additional terms, conditions, eligibility and restrictions that may apply.

4: Loans subject to credit union approval. Minimum credit limit is $5,000.00.

5: SESLOC Rewards program Terms and Conditions can be found at seslocrewards.org The SESLOC Rewards program (“Program”) is a service provided by SESLOC Credit Union (“Sponsor”) and managed by ampliFI Loyalty Solutions, LLC (“Administrator”). Participation in the Program is exclusive to those who have a current HomeFREE Checking™ debit card or a SESLOC Visa Signature® Rewards credit card issued by the Sponsor. There is no pre-registration required. By making eligible transactions with a HomeFREE Checking account debit card and the SESLOC Visa Signature Rewards credit card, the cardholder is accepting the terms and conditions of the Program. See seslocrewards.org for Program terms and conditions. You retain the option to utilize these services as long as you are a HomeFREE Checking or SESLOC Visa Signature Rewards cardholder, subject to terms and conditions. Sponsor and Administrator reserves the right to modify, expand, discontinue, or retire any part of the program at any time.

6: Local Rewards bonus points are earned on purchases made at participating Local Businesses only. Participating Local Businesses (“merchants”) are subject to change at any time without notice. Participation in Local Rewards does not constitute an endorsement on the part of either the merchant or SESLOC Credit Union. Purchases made at participating merchants processed through third-party services (e.g. DoorDash, Grub Hub, Uber Eats etc.) may not qualify for bonus points under Local Rewards. Local Rewards is part of the SESLOC Rewards program; see seslocrewards.org for complete terms, conditions, restrictions and eligibility that apply. For any questions regarding Local Rewards, contact SESLOC Credit Union.