This week, we’re focusing on three simple steps to improve your financial health this month. Last week on Instagram, we shared a post about 3 ways to boost your finances, and today, we’re diving deeper!
Step 1: Identify 1-2 financial goals for this month.
What’s on your calendar for October?
Maybe it’s splurging on Halloween costumes, stocking up on candy for all the trick-or-treaters, or attending a Halloween party you’re dressing up for. Or perhaps you’re more focused on saving and preparing for the upcoming holiday season.
Either way, what do you need or want to spend money on this month? Write down 1-2 specific goals.
For us, it’s Gabe’s birthday month, so we’ll be setting aside time (and money!) to celebrate, likely indulging in a pumpkin Nothing Bundt Cake or two. IYKYK! 🤓
Step 2: Create a Spending Plan
Now that you’ve got your goals, it’s time to assign specific dollar amounts to them!
We’re guessing you don’t normally have a line item for costumes in your monthly budget. So where will that funding come from? How can you realign your spending this month to avoid getting swept up in the thrill of the season? 🎃
We recently moved to a neighborhood full of young kids, so we can’t get away with “sorry, no candy here!” 🍬—it’s officially added to our grocery budget.
Step 3: Set Up a System
It feels great to set goals and create a plan, but the real magic is in the execution! That’s where having a system in place helps reinforce your financial goals.
Gabe and I have recently started holding “Money Monday's” at home. Every Monday, we sit down, check last week’s spending, and plan for the week ahead. It’s a simple but powerful way to stay connected to where our money is going and make sure it aligns with our priorities.
If you’re using an app to track your spending, it might be easier to check in daily. But the system has to be personal to you and realistic!
We recommend asking yourself these three questions at the beginning of each month:
- What are my financial goals?
- What’s my spending plan to achieve those goals?
- How can I set up a system to stay on track?
Little by little, you’ll gain more clarity and control over your money—and before you know it, you’ll be ahead of the game.
Here’s to a financially empowered October! 🍂
