October

October Session 1: Go Over My Financial Emergency Plan
If you ever need a little reinforcement on the need for a comprehensive financial emergency plan, take a few minutes to talk with a financial counselor or coach. They all have myriad stories about families for whom life was prosperous and rosy until it suddenly wasn’t. If you don’t have at least six months of essential expenses in a liquid savings account, this is the time to start making that happen. You don’t want to become another of those stories.

Tip: So often, the financial emergency people face is an unexpected job loss. Because there is so much emotion and tension at the time of the severance, it can help to think ahead of time about employment alternatives should you face this traumatic outcome.

October Session 2: Focus on Education
If you have children, take this opportunity to evaluate where you’re at with saving for their college—if that’s in the works for your family. For younger kids, consider a 529 plan or Coverdell Education Savings Account. If your child is closer to college age, there’s no time like the present to start solidifying your final plan for financing their education.

If you don’t have any children for whom the cost of college is an issue, use this time to research financial topics you’ve always wanted to learn more about.

Tip: Numerous podcasts are covering personal finance. If you have little time to beef up your money know-how, a podcast during your commute or while making dinner can open your eyes to new understanding and greater possibilities.