Fall can be a great time to get your financial house in order.
Since the summer has come and gone, the kids should be back to school and you probably aren?t spending as much money as you were during the summer season. It?s time to refocus on your budget, tighten up your monthly expenditures, and get things back on track.
To make sure that you take advantage of the fall season, try putting the following four financial steps to use.
Set a Savings Goal
As mentioned above, most people spend more in the summer than they do in the fall. That being the case, make it a goal to save most of the money which you are no longer spending on a month to month basis.
You know your spending habits best, so you should be able to estimate how much you will be able to save during October, November, and December. Even if the total is as modest as $100 per month, it will still be helpful in the long run.
Start Thinking Taxes
That?s right ? it?s never too early to start thinking about your taxes. If you have things that you are going to purchase and will then write off, buying them before the end of the year makes a lot of sense.
Also, if you would like to give to charity around the holidays, do so before the end of the year and you may be able to write that money off as well. By planning well in advance for tax season, you won?t have to stress when April rolls around.
Spread Out the Holiday Spending
While there is still time before Christmas, do yourself a favor and spread out your purchases. If you are planning on buying a long list of presents this holiday season, break those up over many weeks to lessen the damage on your budget.
While the total amount of money may wind up being the same, it could be easier from a cash flow perspective if you don?t do it all at once. Also, this is a far less stressful way to shop, and it makes sense to remove as much stress as possible from your life around the holidays.
Look into Side Hustles
Another benefit of having summer in the rear-view mirror is the fact that you should now be able to spend some time thinking about your own side hustle opportunity. A side hustle is simply what most people used to call a part-time job, although now you may decide to make money as an entrepreneur rather than an employee.
There are plenty of side hustle opportunities available, both online and in the real world, so do some research and see if any of them make sense for you. Adding even a small amount of income can do wonders for your monthly budget.
Fall is a good time of year to take a look at your finances and take steps to improve them.
Have you taken these financial steps? What are you working on this fall?
Photo courtesy of: lena1
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