September can feel like a fresh start. Summer is winding down, routines are settling back into place, and there are still a few months left in the year to accomplish your financial goals.
That makes now a great time for a financial checkup.
You don’t need a complicated spreadsheet or an entire weekend to do it. Set aside 30 minutes and take a look at a few key areas of your finances.
Start with your spending. Look at the past two or three months of transactions and ask yourself where your money is actually going. Are there expenses that have crept up without you noticing? Maybe you’re eating out more often, paying for subscriptions you rarely use, or spending more on convenience than you intended.
Check your savings progress. If you have a savings goal, see how you’re doing. If you haven’t been able to save as much as you’d like, don’t get discouraged. Even small, consistent contributions can make a difference over time.
Review your debt. Take a look at credit card balances, loans and interest rates. If you’ve been paying only the minimum on a credit card, consider whether you can put a little extra toward the balance each month.
Look ahead. The final months of the year can bring some of the biggest expenses, including holidays, travel, property taxes, insurance premiums and annual subscriptions. Planning for those expenses now can help keep them from becoming financial surprises later.
Finally, check your automatic payments and subscriptions. Cancel anything you’re no longer using and make sure recurring expenses are still necessary.
Think of your financial checkup like routine maintenance on your car. A little attention now can help prevent bigger problems later.
You don’t have to completely overhaul your finances in one afternoon. Identify one or two changes you can make and put them into practice.
A fall financial reset can help you head into the final months of the year with a clearer plan—and fewer surprises.
