Fall Finance Check up

Fall is the great time to develop a new money mindset. Read on for fresh ideas and tips.

Like me, you may be preparing for year end bills and expenses. It is important to evaluate your living expenses, your debts and what cash you have available. Do you have enough to pay living expenses? Can you tackle your debts? Will you be able to pay those extra bills coming at end of year? Do you have a Holiday budget?

It is vital that you come up with a plan to pay debts off completely. If you hold on to debt, it will be an obstacle to your financial freedom. Debt will hold you back from obtaining those things you really desire. As you plan to repay debt, do not use the funds slated for your living expenses. Your total debt may not be paid next month, but it is vital to have a date in mind in which you can realistically pay it. It is important that you do not add on additional debt to pay year end bills.

In banking some cash, it is important to have a least $1000 in an emergency account. Consider the amount you need to cover those year end bills. My year end bills are close to $4000 and I begin setting that money aside in October. Never use money used for living expenses to pay additional bills because this will only set you back instead of forward.

Holiday spending is the least priority when you are paying debt and additional bills. Set a Holiday budget using only cash. It is traumatic when families over spend at Holidays and do not have money for basic expenses. If money is tight this year, focus on activities over gifts that will make memories. My family has saved money by making thoughtful gifts that people appreciated.

When you find that you are in complete control of your money your future can be promising. Increase your savings. Seek support from wise professionals in investing money for your future. If you need support in starting a financial plan to pay off debt and save money reach out to me at www.peacefullifefinancial.com.