Regardless of your financial situation, October can be a critical month to determine how the next months, and even years, will affect your bank account.
Those who study the market have realized that as we approach the last months of the year, we tend to let our emotions influence our expenses to a new level. What this really means is that they have been studying our habits. They know the value of having a plan. Can we say the same about you? Are they more advanced in planning your money than you?
There are two options — plan or not plan
The lack of a financial plan in October can really ruin and cause stress for the rest of the year. Therefore, you should save your money and make a plan now before the temptation comes to spend more. Having a plan will give you the necessary approach to have fun without having money problems.
Even if you do everything I tell you and have written down your goals and focused on the budget, each month is different and requires your full attention once again; Especially during the Christmas season!
Because the reality is that nobody wants to be making Christmas payments in April!
So before the time of gifts, turkeys and chocolate comes, tonight, take the time to write down a plan specifically for Christmas expenses and commit to that plan. If you have already done so, congratulations! Now, be sure not to let your guard down; Stay diligent to be able to receive the fruits of your work!
Remember, it doesn’t have to be complicated
Just a simple agreement of “We will spend X amount on gifts, X amount on food and X amount to travel” is enough. But first you have to take care of your needs before preparing the budget for entertainment.
Do not stress if the amount you have budgeted for Christmas is not enough. It is fun to give and receive gifts but it should not be the key to enjoying this time. So keep in mind when considering your budget: is it worth buying hundreds of dollars in gifts to just pay later, keeping you in debt?
Do you already know what I would do. However, the decision to do so falls on you!