@ Mike Kotsch_girl sitting on mountain overlooking fall foliage

Why Fall Is the Perfect Time to Review Your Finances

by Melissa Motyka Last updated on August 21, 2019

Photo by Mike Kotsch on Unsplash

Though we may not want to believe it just yet, the back-to-school season is approaching with fall close behind. Whether or not we’re preparing ourselves or our kids to go back to class this September, we can’t deny the feeling of newness that comes with this time of year.

We tend to associate different times of the year with different things: winter with setting resolutions to create better habits, spring with cleaning our homes…so why not associate the fall with doing a financial check? Here are three reasons fall is the perfect time to review your finances.

We’re feeling relaxed after the summer months

Everything seems to slow down in the summer: our commutes are less busy, our offices are quieter, and our weekends include more downtime. It’s the perfect recipe for relaxation, providing us with a somewhat blank canvas coming into the fall.

So why not take advantage of this natural shift of leisure to productivity to check in with yourself financially?

If you’re feeling refreshed…

Lean into this productivity and review your full financial situation. Are there items you need to adjust in your budget? Is there room for some debt repayment? Is there extra money you can allocate to your investment goals? Tracking your expenses takes some discipline at first, but this might be the perfect time to stretch those muscles and make a plan.

It’s a good time to check in on goals set earlier in the year

We’re advocates for checking into your goals regularly throughout the year to get an idea of progress or improvements. But we totally understand if you’ve skipped your summer check-in – our Canadian summers are short-lived and meant to be enjoyed. The approach of fall is a great time to review your goals and make them happen before the year is up.

If you made financial goals for the year…

Pull out that checklist: are you on track with your goals? What do you need to do to reach them by the end of the year? It’s never too late or too early to get started – and you’ll feel proactive for keeping up-to-date with the resolutions you set in January so many months later.

It prepares you for holiday spending

Hear us out: we know it’s early, but we also know the best holiday hack is getting your shopping done ahead of time (though we’ve yet to try this out; we’ll likely continue to endure the mall in December). At any rate, being ahead of the game when it comes to holiday spending can do wonders for your wallet.

If you’re thinking ahead…

Plan your expenses for the coming months: extra back-to-school supplies for the kids, Halloween costumes, Thanksgiving travels, and the extra-expensive month that is December. Instead of cringing at your credit card statements, you’ll be carrying that summer relaxation into the holidays knowing you’ve already taken care of yourself financially.

As the summer season comes to a close in the next few weeks, we want to wish you extra sun, extra time spent with family and friends, and extra relaxation to bring you into the fall. As always, if you have any questions about how you can reach your financial goals we’re happy to chat, and remind you to try our financial goal-planning solution, InvisorGPS

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