Taking some time to review your finances before the holiday shopping season sets in may save you some grief. This month the StoneGate Blog has suggestions for giving yourself a financial tuneup, checking to see just where you are and what you can do to improve or stay on top of your finances.
Budget
Your budget is the key to financial security. Whether you’re a budgeting pro or not, it’s never too late to reevaluate where your money is going before you spend to keep control of your funds. Put a name to every dollar and decide how much is going to paying rent and utilities, food and groceries, general spending, and more so you can prioritize smartly.
Emergency Fund
Creating and upkeeping a hefty emergency fund can take a while, but every cent counts and will count when that unexpected expense threatens to cripple you. Experts suggest you build up a fund with three months’ worth of expenses (rent, gas, and food, for example). Build a separate account and avoid touching it until an emergency really comes.
Taxes
Taxes may not be due until April, but you don’t want to miss out on months of possible savings. Meet with a financial advisor if you want help figuring out how to save and how to make sure everything’s in order for tax season. Also remember to stay organized with the documents you’ll need for doing your taxes, including information about your daily work expenses if you own a business.
Fun
Now is the time to chase your dreams! Set short- and long-term goals for things you want to do here in Williamsville, NY, across the country, or internationally, then save up for your next adventures and enjoy the fulfillment of a job well done.
Taking a look at your financial health this month will put you in the driver’s seat when it comes to holiday spending. Watch for our post about Black Friday shopping coming up in November. We appreciate you being a part of our apartment community.