Ever notice how summer feels like a tempting siren that lures us to throw away our cares—and our budgets—with exhilarating abandon? Splurging on that decadent ice cream sundae, booking a spur-of-the-moment getaway, splashing out on garish pool inflatables that you swear will use every weekend–we’ve all been there. Summer radiates a siren’s call of indulgence, but then cool-headed fall rolls around. It’s the antithesis to summer splurge–time to step on the brakes, pencil in some discipline, and buckle up that budget.
Ashley Feinstein Gerstley, certified financial planner and author of “The 30-Day Money Cleanse,” refers to the transition from summer spendthrift to frugal fall as a “money cleanse.” This isn’t just important–no—it’s crucial to get back on track with spending habits and achieve a fiscal close to the year that James Bond would be proud of.
The Backward Glance: The Key to Financial Evolution
How does one embark on this economic expedition? Well, as any super-sleuth will tell you, to solve a mystery, first, you need to retrace your steps. Our financial gumshoe, Nate Hoskin, a CFP and financial assistant at Brightside, bravely guides us in this journey back in time. Review your New Year’s goals first, he advises, and then adjust the compass if required.
He coins the next step of this fiscal odyssey “financial audit” that scrutinizes all our spending decisions over the past couple of months. It’s like rifling through a box of mixed chocolates–you might stumble upon some unpleasant surprises.
In a study by the Bureau of Labor Statistics, they noticed a rising trend in common household expenses due to inflation over the past year. So, if your saving endeavours feel as sluggish as a one-legged tortoise, you’re not alone. But remember, this isn’t about crying over spilled milk, it’s about planning how to mop it up and avoid knocking the glass over next time.
Budgeting for Your Dream Car: The Luxury Lifeline
Now, what if that dream car has been beckoning you from the glossy pages of a magazine or flaunting itself in the glitzy showroom? The pursuit of luxury shouldn’t be a far-fetched fantasy. Keep it in sight, stay on track with your revamped budget, make some strategic sacrifices and before you know it—you’re handing over a check for that dream machine. Knowing where our money is going is a huge shift and can help us change our habits. It’s almost like financial enlightenment–understanding every hiccup and victory in your fiscal journey, and employing it to hone your financial wisdom.
Embarking on this money cleanse is almost like changing the sails of your ship in a way to effectively navigate the so called financial seas. It’s not an SOS situation, but think of it as an opportunity for course correction towards the shores of fiscal well-being. Summer indulgence is behind you; frugal fall is at the helm–steady as she goes!