For many, autumn is the best time of year. The return of cool breezes, comforting foods, and pumpkins can be invigorating. It’s also a bookmark of sorts, especially for your finances—a perfect time to take stock of your spending after the summer’s over to see what lies ahead. These tips can help you make simple, sensible choices and take action to make the most of your money, from your food choices to your financial options to protecting your most valuable assets.
Bask in the Bounty
Autumn is all about fresh food, and you can get more bang for your buck with these tips.
Fall Fruits & Veggies: This one’s all about supply and demand: you can usually get good prices on in-season fruits and veggies because they’re so plentiful. So stock up on autumn produce like apples, beets, pomegranates, squashes, and sweet potatoes, to name a few. They’ll be bursting with flavor and health benefits—especially at the local farmers market—without busting your budget.
Store Up Soup: Speaking of fresh vegetables, they go really well in soup, another fall favorite—making it easier for you to maximize the produce you buy. A bonus for your bottom line: soup also freezes quite well. It can last up to three months frozen, so you can make one large pot of it and feed your family for weeks.
Focus on Financials
It’s been said that planning is bringing the future into the present so you can do something about it now, and that’s especially true when it comes to your end-of-year finances.
Work Benefits: Company benefits often begin on January 1, so pay close attention to your company’s open enrollment period to determine the best insurance option for you and your family. Consider benefits like a flexible savings account (FSA), a health savings account (HSA), and a 401(k) (especially if there’s company matching) to determine what would best suit your family. Just because your benefit choices worked this year doesn’t mean they will next year. For an existing FSA, make sure to use your money if there’s an end-of-year deadline. And don’t forget any company-sponsored discounts (such as a weight-loss program or gym membership) that need to be submitted by year-end.
Education: If you have kids in college, look ahead to the spring semester. Spring tuition for many colleges can be due as early as November and as late as January, so mark it on your calendar and plan accordingly—especially with holiday bills on the horizon—to avoid late fees. Also, keep an eye out for federal financial aid (FAFSA) application deadlines, which usually open in early fall.
Investments: Things change all the time in the finance world, especially taxes and laws, and these tend to go into effect in the new year. If you’re looking ahead with your investments, such as your stock portfolio or loans, be aware of what’s happening—and expected to happen—going forward. The best course of action? Touch base with your financial advisor, who can steer you on the path that’s right for you.
Holiday Shopping: Waiting until December can mean desperation shopping when stock is depleted and prices are higher. Instead, plan ahead. Between now and Black Friday, prepare a list, track prices, and set aside money from each paycheck. If you’re paid biweekly, remember that two months each year give you an “extra” paycheck—October is one such month. Dedicating that extra check to holiday shopping can help soften January’s credit card bills.
Don’t Wait for Winter
Take advantage of the lovely autumn weather to cut down your bills—and prevent costly ones.
Home: Fall is a great time to get your home ready for winter. Clean gutters once leaves have fallen to avoid drainage issues later. Repair sidewalks or driveways before rain and ice worsen cracks. If you live in a cooler climate, remove outdoor hoses, shut off and drain exterior spigots, and prep for freezing temps. Inside, service your furnace (and fireplace), change filters, and check windows and doors for drafts.
Car: Winterize your car now to avoid financial headaches later. Check antifreeze, tire tread and balance, rotate tires, and inspect wipers and windshield fluid. Ensure heaters and defrosters work properly, and keep an emergency kit in your vehicle.
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