Planning ahead after summer spending
Summer is a time for fun, travel, and making memories. But all those activities—vacations, camps, dining out, and back-to-school shopping—can add up fast. This time of year is a great time to pause, take a breath, and check in on your finances.
If your finances feel off track after summer spending, you’re not alone. Many people overspend a little during the summer months. The good news is that there are simple steps you can take now to get back on track before life starts getting even busier.
Start with a money check-in
The first step to better financial wellness is knowing where you stand. Look at your most recent bank statements and credit card balances. Ask yourself:
- Did I spend more than I planned this summer?
- Are there any subscriptions or services I no longer use?
- Do I have any unexpected charges or fees?
Understanding your current spending habits helps you make better choices moving forward.
Set new goals for the fall
Now is a good time to set one or two simple money goals for the fall. These can be as small as skipping takeout once a week, finding one subscription to cut, or putting $20 a week into savings. The key is to make your goals realistic and specific. That way, you are more likely to stick with them.
Also, remember that the holidays are coming sooner than you think. Consider setting a goal of socking away money for the holidays. Even a small amount each week can add up quickly.
Create a fresh budget
A budget is simply a plan for your money. Think about your needs for the fall. Will you have new school expenses? Are there birthday gifts or other events to plan for?
Try writing out what you expect to earn and spend in a typical month. Then, look for one or two areas where you can cut back. Maybe it’s streaming services you no longer use, or snacks you grab on the go. These small changes can make a big difference.
Use the tools and resources available to you
If your workplace offers an Employee Assistance Program (EAP), check to see if financial support is part of it. Through these types of programs, you may have access to helpful tools like budgeting worksheets, savings calculators, online webinars about money management, or consultations with financial experts.
Fall into good habits now
By taking small steps today, you can feel more in control of your money tomorrow. Making a few smart choices now can help you enjoy the fall season with less stress and more peace of mind.
Remember, financial wellness is part of your overall well-being. Taking care of your money is another way to take care of yourself.
