So many people ramp up their spending during fall. It makes sense: between the back-to-school expenses, the new fall clothes (yummy sweaters and cozy socks), plus all the seasonal delights (Pumpkin Spice Latte and Apple Cider!), there is so much to spend money on! Here are six reasons you might want to spend less this fall.
1. Lowering Financial Stress
Stress and fall don’t really mix, so if you’re struggling with finances, don’t go overboard this year. Worrying about your finances constantly is exhausting, and that’s no way to enjoy time off; hold back a bit and direct more of your income toward things like paying off debt. You can enjoy many more things, like barbeques and Halloween get-togethers, without the looming fear of overspending over your head.
2. Setting Up An Emergency Fund
Emergency funds are a must for those who want more peace of mind. If you don’t have one established, you should prioritize it. That might mean fewer Pumpkin Spice Lattes, but it also means having money ready for life’s unexpected twists and turns. Setting aside a small percentage of your income can accumulate into a significant emergency fund over time.
3. Creating Opportunities for Future Enjoyment
Saving money now often means creating chances to have more fun in the future. It might seem negligible to skip out on that extra treat this fall, but add those up over the whole season, and you might have enough money for a great Holiday gift! And don’t forget: there are plenty of low-cost or free activities to enjoy in the summer, such as hiking, picnicking, or visiting local festivals, so abstaining from certain activities doesn’t mean the fun has to stop.
4. Preparing for the Holidays
Are you often someone who feels like holiday expenses creep up on you? Don’t let them; hold back on your fall spending and put that money toward holiday fun. This makes it easier to shop for loved ones, entertain, or travel—however you celebrate, you’ll have the money to do it right. It’s an expensive time of year for most people, but not if you’re ready!
5. Building Better Financial Habits
If you’re constantly breaking promises with yourself, then it’s time to break the cycle instead. Fall is a challenging time to curb your spending. Still, if you manage to pull it off, you’ll be proving to yourself you’re capable of being financially responsible. Practicing discipline takes effort: you’ll spend time budgeting, cutting costs, and tracking your expenses. The payoff? You’re free from the yoke of financial stress, and that’s worth a few less al fresco dinner outings this fall.
6. Investing in Your Future
Spending less doesn’t necessarily mean you have to save; you can make that money work for you! Taking the money you’d otherwise spend on fall treats and investing it can yield returns that benefit you in the long run. Sure, it’s nice to think about being cozy with a drink for a few days. But a wise investment could mean retiring on the beach instead!
