Summer’s officially over, and if you’re anything like the rest of us, you’re probably reflecting on all the money you spent over the last few months—big vacations, spontaneous weekend trips, endless patio brunches, and maybe a few too many iced lattes. It was fun while it lasted, but now that fall is here, it’s time to switch gears. With cooler weather and the holiday season just around the corner, fall offers the perfect opportunity to press pause and rethink your financial goals.
Whether you want to dig out of the summer spending hole, prepare for the holidays, or set yourself up for a strong start to the new year, now’s the time to make some changes. Here’s how you can use fall to get your finances back on track and set yourself up for success.
1. Assess Where You Stand Now
Before you start dreaming up new financial goals, take a hard look at your current situation. Pull up your bank statements, review your credit card balances, and tally up any outstanding debts. Be brutally honest with yourself: Are you on track with your financial goals, or have you veered off course?
Fall is a natural checkpoint in the year, and it’s a good time to evaluate your progress. This is the moment to reflect on what’s worked and what hasn’t. Maybe you started the year with lofty goals, but life happened, and things changed. That’s okay. What’s important is that you’re reassessing now and adjusting as needed.
Once you’ve taken stock, it’s time to get clear on what you want to achieve by year’s end. Set specific, measurable goals that you can realistically hit in the next few months. Whether it’s paying off a credit card, boosting your emergency fund, or saving for a holiday trip, make sure your goals are tangible and time-bound.
2. Align Your Finances with Your Values
For many of us, financial planning isn’t just about saving and spending—it’s also about aligning money management with personal values and faith. Fall is a great time to reflect on how your financial habits match your beliefs. Are you giving to causes that matter to you? Are you using your resources in ways that reflect your faith?
Consider setting aside a portion of your income for tithing, charitable giving, or supporting organizations that align with your values. If you’ve been wanting to give more but haven’t had the budget, start small and build from there. Even a little bit can make a difference, and it can also remind you of the impact of generosity.
“My recommendation based on what I’ve seen in the Bible, is to make the church your first place of giving,” says financial expert Art Rainer. “That is your priority, because it’s God’s priority. The local church is God’s plan to advance His kingdom around the world.”
3. Budget for the Holidays Without Breaking the Bank
The holidays are notorious for being a financial minefield. Between gifts, travel and social events, it’s all too easy to overspend and end up in debt. But with a little planning, you can enjoy the season without the financial hangover.
Start by setting a holiday budget. List all your anticipated expenses—gifts, travel, decorations, party outfits—and assign a spending limit to each category. Be realistic about what you can afford, and don’t be afraid to set boundaries.
One of the biggest mistakes people make is feeling obligated to keep up with others. Just remember, it’s okay to say no to things that don’t fit your budget. Focus on what really matters to you and spend accordingly.
Consider using cash or a prepaid debit card for your holiday spending to help you stick to your budget. When the money’s gone, it’s gone, and you won’t be tempted to swipe your credit card for those last-minute purchases. And if you’re shopping for gifts, look for deals early or consider homemade or personalized options, which can often be more meaningful and cost-effective.
4. Start Planning for Future Goals Now
While it’s easy to get caught up in the immediate demands of the season, fall is also a great time to start planning for future financial goals. Whether you’re saving for a big trip, a new car, or a down payment on a home, the sooner you start, the better.
Take advantage of the seasonal lull to map out a savings plan for your long-term goals. Break down your goals into smaller, manageable steps, and automate your savings if you can. Set up a direct deposit from your paycheck into a separate savings account dedicated to your goal. This way, you won’t be tempted to dip into your savings for everyday expenses.
Fall is also a good time to review your investments and make sure your portfolio aligns with your goals. If you’re not already investing, consider opening a retirement account or setting up a simple brokerage account to start building your wealth. And don’t forget, investing doesn’t have to be complicated or intimidating.
5. Invest in Personal Growth
Speaking of investing, financial goals aren’t just about saving money—they’re also about investing in yourself. Fall is the perfect time to think about how you can use your resources to invest in your personal growth. Whether it’s taking a course, learning a new skill, or even just setting aside time for self-care, investing in yourself can pay off in big ways down the road.
Look for opportunities to enhance your career or boost your earning potential. Is there a certification you’ve been meaning to get? A skill you’ve wanted to learn that could open doors professionally? Now’s the time to take the plunge. Allocating part of your budget to personal development can be one of the most rewarding investments you make.
6. Reevaluate Your Subscriptions and Fixed Expenses
While you’re doing some fall cleaning through your wardrobe, set aside some time to go through your finances, too. Review your recurring expenses, like subscriptions and memberships, and decide what’s worth keeping. Maybe you signed up for a streaming service that you barely use or a gym membership that’s gathering dust. Cutting out unnecessary expenses can free up money to put toward your financial goals.
This is also a good time to negotiate bills like your cable, internet or insurance. A quick call to your provider could result in a lower rate, especially if you’ve been a loyal customer. Even small savings can add up over time, and that extra cash can be redirected to your savings or used to pay down debt.
Consider scheduling a meeting with a financial advisor or using a budgeting app to help you stay on track. The more intentional you are with your money now, the easier it will be to reach your financial goals later—and your future self will thank you for that.
