Solstock | E+ | Getty Images'We fritter money away every single day'While you are still going to spend money on fixed essentials like a car payment or monthly rent, "No Spend September" is about being thoughtful in how you're spending money, said Francis, who is a member of CNBC's Financial Advisor Council. When it comes to her own finances, Szafarski believes September can also be a "good time to reset" because it's easy to spend money in the summer, she said. "Depriving yourself for long periods of time can create a boomerang effect of spending," Francis said. To that point, here's a guideline of how to benefit from No Spend September. "Are there things you're spending money on that you don't really need or you're not really using?"

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Persons: Francis, Szafarski, Francis said Organizations: CNBC's