August

August Session 1: Plan for Holiday Expenses

This might not be the time of year you typically think of end-of-year merriment, but getting ahead of the game with some holiday planning can take a lot of angst out of the season of joy and giving. Try to set your spending limits now and set up savings accounts for gifts, activities, and travel. Calculate how much you’ll need for each category and divide by how many months you have left. Then have that amount deposited automatically into the respective accounts.

Tip: Once November and December roll around, the stores are full of holiday decorations, jolly music, and wonderful smells. Having a set amount in mind and making your choices before you’re exposed to this sensory overload can help you make decisions based on what’s best for you and your family rather than the emotions of the season.

August Session 2: Make a Charitable Giving Plan

Speaking of the holidays, you know there will be a lot of appeals for philanthropic giving as the year draws to a close. Giving to those in need is a truly beautiful thing. But contributing beyond your ability can add to the stress of what can already be a challenging time of the year. Consider making a plan for your giving this year. You can start by listing the causes you give to every year and determining if you would like to give more or less than usual. You may want to focus your giving on a few causes that mean the most to you.

Tip: Unexpected tragedies happen more often than any of us would like. Earmarking some funds in your plan for unforeseen events can help you give in an impactful way without jeopardizing your financial wellness.