<img src="https://events.xg4ken.com/pixel/v2?tid=KT-N2BAB-3ED&amp;noscript=1" width="1" height="1" style="display:none">

    Three Tips for Sticking to Your Budget During Financial Planning Month

    Lisett Comai-Legrand

    Lisett Comai-Legrand About The Author

    Oct 8, 2019 6:03:00 AM

    October is Financial Planning Month, and with the new year right around the corner, now is a great time to make sure you are on track to meet your short and long term financial goals. Here are three tips on how to stick with a budget,  keep your spending in check and finish the year out strong:

    Don't Transfer Money from your Savings Account to your Checking Account Unless it's an Emergency

    If you find yourself doing this often, consider having a checking and savings account at two different financial institutions. It takes longer for the transfer to go through and the extra barrier can help you avoid unnecessary purchases.

    Read the Fine Print when Signing Up for a New Subscription or Service

    Otherwise, you may find that you enrolled in a service with an automatic payment plan. Review your statements each month to make sure you didn't unknowingly sign up for a service. Don't forget to include monthly and annual subscriptions when planning your budget.

    Three Tips for Sticking to Your Budget During Financial Planning Month

    Stop Impulse Purchases

    The average U.S. consumer spends about $450 per month on impulse buys. That is around $5,400 per year that could be saved by limiting unplanned purchases!

    Whether your are shopping for food, clothing or household items, create a list before you head out and stick to it. If you find something you want that isn't on your list, first look at your account balance, then wait a day or two before making a decision.

    This also applies to online shopping. Leave items in your cart for at least 24 hours before purchasing. You will either forget about it or have more clarity on whether or not you need it.

    For more tips and tools to help you stay on track with your budget and financial planning, subscribe to our blog, or visit our resource center.

    Contest courtesy of our partners at GreenPath Financial Wellness

    We do our best to provide helpful information but we cannot guarantee the accuracy or completeness of the information presented in the article, under no circumstance does the information provided constitute legal advice. You are responsible for independently verifying the information if you intend to use it in any way. Additionally, the content is not intended to be reflective of First Alliance Credit Union’s products or services, for accurate and complete details about our product and service information you must speak to an advisor at First Alliance Credit Union.