Summer will be winding down before we know it, and if you’re like most families, you’re somewhere between “We’ve had the best summer ever!” and “How is it already time for school supplies?”
Soon, the calendar will fill up with sports practices, dance classes, band rehearsals, school fundraisers, field trips, homecoming, and approximately 47 requests for money that somehow all arrive within the same two-week period.
Before the back-to-school madness officially begins, now is the perfect time to spend an hour getting your financial house in order. Think of it as school prep for your wallet.
- Hunt Down Those Subscription Charges
Every family has them.
The streaming service you signed up for to watch one show. The fitness app you were definitely going to use. The subscription box that seemed like a great idea six months ago.
Take a look through your recent account activity and see what’s still quietly charging your account each month.
A few dollars here and there may not seem like much, but those charges add up faster than a teenager’s Starbucks orders.
- Give Your Passwords a Summer Refresh
Nobody wakes up excited to update passwords.
But scammers don’t take summers off.
Take a few minutes to update passwords for important accounts, turn on multi-factor authentication, and make sure you’re not using the same password for everything.
It’s a lot less painful than dealing with a compromised account.
- Check the Status of Your Emergency Fund
Life loves surprises. Unfortunately, they aren’t usually the fun kind.
Vehicle repairs. Air conditioners that quit during the hottest week of the year. Unexpected medical expenses. A kid who suddenly outgrows every pair of shoes they own overnight.
Before fall expenses start piling up, take a look at your emergency savings and make sure it’s still where you want it to be.
- Review Your Beneficiaries
This one isn’t exciting, but it’s important.
If you’ve had major life changes in recent years—marriage, divorce, children, grandchildren, or the loss of a loved one—it’s worth reviewing the beneficiaries listed on your accounts.
It’s one of those tasks everyone means to do “someday.” Don’t let “someday” become “never.”
- Plan for the Financial Avalanche That Is Fall
Let’s be honest. Fall is expensive.
School supplies. Sports fees. School pictures. Homecoming. Travel teams. Fundraisers. Holiday shopping. Holiday travel.
Take a few minutes now to think through the next few months and build a simple spending plan. You don’t need a complicated spreadsheet. Just having a realistic idea of what’s coming can help eliminate a lot of stress later.
Final Bell
The best financial habits usually aren’t flashy. They’re the small things we do consistently before they become urgent.
Once school starts, you’ll be busy enough trying to remember whether today is picture day, jersey day, pajama day, or some other day that requires a last-minute trip to Walmart.
A little preparation now can go a long way toward making the rest of the year a little easier on both your schedule—and your bank account.
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