As summer winds down, vacations are dwindling, and kids are heading back to school. Remember the financial goals you set back in January? Now is a great time to revisit them with the holidays and end of year quickly approaching.
Review Your Retirement Savings
Are you maximizing your 401(k) contributions? Now is a great time to evaluate what you’ve contributed to your 401(k) so far this year. Consider increasing your contribution for the remainder of the year to maximize your savings. If you are under the age of 50, the 2018 salary deferral limit is $18,500; it is $24,500 if you are age 50 or older.
Set a Holiday Budget
With the holidays right around the corner, now is a great time to start putting aside spending money. Take a deeper look at your finances, determine what you want to spend this year and put aside an amount each week for holiday spending. Take it a step further and start getting your gift list together so you don’t miss deals and sales.
Evaluate Your Debt
Did summer travel take a beating on your savings and credit cards? Now is the time to develop a plan to pay down that debt. Aim to pay more than the minimum payment, ask for an interest rate reduction, or find a card that has no interest.
Prep for Energy Savings
With the cooler months quickly approaching, what better time to prep for home energy-savings. Some energy tips include turning back your thermostat, schedule service for your heating system, and caulk or weather strip to seal air leaks around leaky doors and windows.
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