With the Holidays right around the corner, it’s time to start thinking about your end of the year budget and strategy. Be sure to start adjusting now so that you can plan accordingly and make the best of the rest of your year.
Clean out your closet.
Changing seasons usually means changing clothes. Running out and buying new clothes can seem like a good idea, but before you go buy that new coat, try cleaning out your closet. Bring your winter clothes to the front of your closet and try them before buying new ones.
Budget for the Holidays.
Hopefully, you’ve been budgeting all year and following that budget to a tee. You’ve been saving all year, but now the holidays are coming up. Don’t forget to budget for your holiday spending. We know that it’s incredibly easy to overspend during this time of year.
Add to your 401K.
There’s something about seasons changing that makes people want to make financial changes. A smart change if you can afford it is to raise your 401k or retirement contribution. Even adding 1% more can make major changes in the long run.
Use Flexible Spending Account (FSA) dollars.
If you’ve been putting money into an FSA, now is the time to try to use it. This is already money that you’ve saved and if you don’t use it, you lose it. Don’t leave your money on the table.
Track Your Spending.
Now is the perfect time to get a hold of your expenses before the Holiday season really hits. Take a few weeks to write down everything you spend money on. You may be surprised how much you can save by keeping a closer eye on your finances.
The changing seasons can be the perfect time to change a few financial habits. With a little planning and some smart decisions you can rock your Fall budget and plan for Holiday spending. Take this time to reflect, make a few changes, and enjoy the benefits of the changing seasons.