What You Should Know About 'No Spend November' [Yahoo! Finance]
Ally Financial Inc. (ALLY)
Last ally financial inc. earnings: 4/20 07:30 am
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Source: Yahoo! Finance
This time of year, you might encounter people trying out “No Spend November.” But finance experts warn this challenge is not for everyone, and there are some serious drawbacks to consider before you embark on it. “No Spend November is a challenge to avoid spending on anything outside your essentials like rent or mortgage, groceries, health care, bills and gas,” explained consumer finance and budgeting expert Andrea Woroch . “The idea is that there are many spending temptations this time of year and the holidays often lead to debt.” By committing to the challenge, you're making a conscious effort to reduce thoughtless spending and build up your savings. “Some people may do this to bolster savings for gifts and other holiday expenses ... while others may do it to simply reduce wasteful purchases that inevitably come about this time of year,” Woroch noted. By pressing pause on nonessentials, you can get comfortable saying no and become more intentional with your financial values.
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