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Whitaker-Myers Wealth Managers is an SEC-registered investment adviser firm. The information presented is for educational purposes only and intended for a broad audience. The information does not intend to make an offer or solicitation to sell or purchase any specific securities, investments, or investment strategies. Investments involve risk and are not guaranteed. Whitaker-Myers Wealth Managers reasonably believes that this marketing does not include any false or misleading statements or omissions of facts regarding services, investment, or client experience. Whitaker-Myers Wealth Managers has a reasonable belief that the content will not cause an untrue or misleading implication regarding the adviser’s services, investments, or client experiences. Please refer to the firm’s ADV Part 2A for material risks disclosures.

Past performance of specific investment advice should not be relied upon without knowledge of certain circumstances of market events, the nature and timing of the investments, and relevant constraints of the investment. Whitaker-Myers Wealth Managers has presented information in a fair and balanced manner.

Copyright (c) 2023 Clearnomics, Inc. and Whitaker-Myers Wealth Managers, LTD. All rights reserved. The information contained herein has been obtained from sources believed to be reliable, but is not necessarily complete and its accuracy cannot be guaranteed. No representation or warranty, express or implied, is made as to the fairness, accuracy, completeness, or correctness of the information and opinions contained herein. The views and the other information provided are subject to change without notice. All reports posted on or via www.clearnomics.com or any affiliated websites, applications, or services are issued without regard to the specific investment objectives, financial situation, or particular needs of any specific recipient and are not to be construed as a solicitation or an offer to buy or sell any securities or related financial instruments. Past performance is not necessarily a guide to future results. Company fundamentals and earnings may be mentioned occasionally, but should not be construed as a recommendation to buy, sell, or hold the company's stock. Predictions, forecasts, and estimates for any and all markets should not be construed as recommendations to buy, sell, or hold any security--including mutual funds, futures contracts, and exchange traded funds, or any similar instruments. The text, images, and other materials contained or displayed in this report are proprietary to Clearnomics, Inc. and constitute valuable intellectual property. All unauthorized reproduction or other use of material from Clearnomics, Inc. shall be deemed willful infringement(s) of this copyright and other proprietary and intellectual property rights, including but not limited to, rights of privacy. Clearnomics, Inc. expressly reserves all rights in connection with its intellectual property, including without limitation the right to block the transfer of its products and services and/or to track usage thereof, through electronic tracking technology, and all other lawful means, now known or hereafter devised. Clearnomics, Inc. reserves the right, without further notice, to pursue to the fullest extent allowed by the law any and all criminal and civil remedies for the violation of its rights.

  • Writer's pictureLindsey Curry

No Spend Week – can you do it?

January. The first month of the year. For many, this means new diets and weight loss goals, new habits to form (or break), and ways to better themselves. They take on “New Year, New Me” as their personal mantra. Of course, we will always stand by and support those changes. However, we challenge you to a new one this year. A “No Spend Week”. And we ask, do you think you can do it?

 

What is a No Spend Week

It’s as simple as the name. You challenge yourself not to spend ANYTHING for an entire week. Say “no” to eating out, groceries, gasoline, movie purchases, shopping, app purchases, etc. It will be a great way to start the new year, especially if you are coming off a Christmas spending spree.

 

Planning for the No Spend Week

Obviously, we don’t want you to be in a situation where you can’t eat because you don’t have groceries or get to work because you are low on gasoline. So, understanding when this no-spend week should logistically happen is key. We realize that if you drive a short commute daily, this is easier said than done compared to someone with a long daily commute. But the concept is there. This means you only drive that week to work and spend on “work gas,” not gas to take you to and from “fun” places if possible. See what is on the calendar regarding personal engagements or kid schedules.

 

Get Creative on the No Spend Week

Again, we don’t want you to be hungry this week, but we also don’t want you buying excess the week before to “last you” through the no-spend week. The no-spend week is to help push you out of your comfort zone and get creative. This is a great time to use up things forgotten about in the freezer or buried back in the pantry. This can also go for activities.


Many towns do free weekend events, some museums are free entry, and never underestimate the sensory refueling being in nature at the park or a local trail can bring you. Pack sandwiches, snacks, and drinks, and have a fun day. OR make it a double feature no-spend week and do something constructive around the house to occupy any free time. Clean out that pantry or freezer you’re finding dinner from, go through closets, organize the basement, and who knows what you may find down there that you could potentially turn around and make a profit on. Make your “No-Spend Week” turn into “I Just Made Money Week.”

 

Avoid Temptation

Remember, this is an exercise in self-discipline and delaying gratification of your “wants.” Don’t tell yourself, “It’s only a few dollars,” or even use a gift card because “it’s not my money I’m spending.” I know I have preached the usefulness of gift cards in previous articles and how it is a great way to spend money without it being money from your bank account, but in this circumstance, it defeats the purpose of the No-Spend Week.

 

See the Benefits

Challenge yourself to a week this month. As I’ve said, this week does not mean you spend more the week before or after to make up for it. The idea is to have no spending for a whole week to see how it can impact your budget and bank account.


So, again, we pose the question, can you do it? A no-spend week? Can this be your new mantra for 2024? Perhaps this becomes a monthly challenge. And you can say, “New Year, New Me, No-Spend Week.”

 

If you need help staying accountable, finding ways to save money, or being better with money management, speak with our financial coach to help get you on track! If you want to learn more about your finances, one of our advisors will gladly talk to you. We wish you all the luck in your financial endeavors this new year!

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Whitaker-Myers Wealth Managers is an SEC-registered investment adviser firm. The information presented is for educational purposes only and intended for a broad audience. The information does not intend to make an offer or solicitation to sell or purchase any specific securities, investments, or investment strategies. Investments involve risk and are not guaranteed. Whitaker-Myers Wealth Managers reasonably believes that this marketing does not include any false or misleading statements or omissions of facts regarding services, investment, or client experience. Whitaker-Myers Wealth Managers has a reasonable belief that the content will not cause an untrue or misleading implication regarding the adviser’s services, investments, or client experiences. Please refer to the firm’s ADV Part 2A for material risks disclosures.

Past performance of specific investment advice should not be relied upon without knowledge of certain circumstances of market events, the nature and timing of the investments, and relevant constraints of the investment. Whitaker-Myers Wealth Managers has presented information in a fair and balanced manner.

Copyright (c) 2023 Clearnomics, Inc. and Whitaker-Myers Wealth Managers, LTD. All rights reserved. The information contained herein has been obtained from sources believed to be reliable, but is not necessarily complete and its accuracy cannot be guaranteed. No representation or warranty, express or implied, is made as to the fairness, accuracy, completeness, or correctness of the information and opinions contained herein. The views and the other information provided are subject to change without notice. All reports posted on or via www.clearnomics.com or any affiliated websites, applications, or services are issued without regard to the specific investment objectives, financial situation, or particular needs of any specific recipient and are not to be construed as a solicitation or an offer to buy or sell any securities or related financial instruments. Past performance is not necessarily a guide to future results. Company fundamentals and earnings may be mentioned occasionally, but should not be construed as a recommendation to buy, sell, or hold the company's stock. Predictions, forecasts, and estimates for any and all markets should not be construed as recommendations to buy, sell, or hold any security--including mutual funds, futures contracts, and exchange traded funds, or any similar instruments. The text, images, and other materials contained or displayed in this report are proprietary to Clearnomics, Inc. and constitute valuable intellectual property. All unauthorized reproduction or other use of material from Clearnomics, Inc. shall be deemed willful infringement(s) of this copyright and other proprietary and intellectual property rights, including but not limited to, rights of privacy. Clearnomics, Inc. expressly reserves all rights in connection with its intellectual property, including without limitation the right to block the transfer of its products and services and/or to track usage thereof, through electronic tracking technology, and all other lawful means, now known or hereafter devised. Clearnomics, Inc. reserves the right, without further notice, to pursue to the fullest extent allowed by the law any and all criminal and civil remedies for the violation of its rights.

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