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It’s July. It’s hot. The kids are out of school. It’s time for the beach and the pool and fireworks in the backyard.
With all that fun, it’s easy to forget about planning for the future. But you know that in order to win with money, planning ahead has to become second nature.
That’s all budgeting is, right? It’s simply planning how you’ll be spending your money in the month ahead.
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There are certain times of the year where you can go ahead and plan for extra expenses, and fall is one of those times. Every fall, your calendar will fill up while your budget seems like it’s getting drained.
But maybe you’re so caught up in the summer fun that fall couldn’t be further from your mind. Well, that’s why we’re here to help you remember what to expect!
You know the deal. Don’t let the school year sneak up on you. You’ve got notebooks, pencils, calculators, backpacks and markers to buy. Don’t forget about leftover supplies from last year. There’s no need to buy a bunch of stuff you already have!
This might come as a surprise, but kids grow. Crazy how that happens. Unlike notebooks and backpacks, your kids might not be able to use the same clothes they wore last school year. You don’t want your sixth-grader going to the first day of school wearing tight jeans hiked up to his ankles.
Registering for a sports league isn’t cheap! And on top of registration fees, you’ve got to buy equipment like bats and gloves and shoes and uniforms. If you know your daughter will be running track this year, start budgeting for those costs now! You might even find a deal because you’re not buying at the last minute.
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Halloween, Thanksgiving and Christmas are the three most expensive holidays of the year, so make sure you have a plan for that season. Whether it’s saving up for a new costume, clipping coupons for pumpkin pie filling, or keeping an eye peeled for discounted gifts, you have plenty of time to prepare. There’s no reason you should be scrambling at the last minute come October through December!
Oh no. Junior’s about to go to college, and you haven’t put any money in his Education Savings Account in years. What are you going to do? Well, for starters, you should encourage Junior to get out, get a job, and apply for every scholarship and grant out there. College doesn’t pay for itself, and student loans are a horrible option. If you’re out of debt and have your emergency fund in place, then put away as much money as you can in the small amount of time you have available. Set a reasonable goal like saving enough to pay for textbooks or housing.
Fall can be one of the busiest times of the year, so this list is just the tip of the iceberg when it comes to planning your budget.
What are some other expenses you have every fall?