Your wallet must be feeling a little empty, especially after a summer of weddings, barbeques, and vacations. With Summer over, you feel like your finances will finally balance back out… That is until the holidays hit, of course. Get ahead of the holiday season and favor your finances with these three easy tips.
Stop Unnecessary Spending – It is so easy to grab that iced coffee before work, but before you realize it, you’ve created a habit. You’re getting coffee before work almost every day when you could be making a good ole’ cup of joe at home! Take note of all your small, regular purchases; these little things can really add up! Adjust your spending habits and instead create saving habits.
Set a Fall Budget – The holidays can be overwhelming money-wise with the idea that we need to spend money on others after we just spent an entire Summer spending money on ourselves. Don’t fret just yet! Plan ahead by creating a budget and your wallet will thank you by the time 2020 rolls around. Create a list of all the people you want to buy gifts for, what that gift will be, and how much it cost. Add the total of each gift and now you have the amount you need to save up for! Now, set a date to reach this goal and start saving up. If you’re planning on hosting a holiday event, you can create a similar list with what will be needed, such as: food, décor, etc. Set a limit for each item and, like the gifts, set your saving goal and start working towards achieving it.
Review Your Bills & Subscriptions – Between bills like mortgages (or rent), electricity, car payments, etc. we often forget about our providers. We sign cellphone contracts and sign up for new credit cards with the idea that the plan we sign up for is, indeed, the best. We often forget to review the plan and check competitors to see if we still are receiving the best a year or two later. Good questions to ask yourself include: what are you getting out of these providers? Is it really worth it? Would it be better suited for you to switch to a different plan, or maybe even eliminate that service all together? This fall take the time to review other prices and how much other competitors charge annually. When with television, do you really need to pay for cable or is your family okay with just using entertainment apps like Netflix? This is the perfect time to reevaluate your needs and start comparing and deciding what’s best for your Fall finances.