October’s spookiness is not only limited to its atmosphere: If you aren’t careful, October can be a spooky month for your finances too.
You may be tricked into spending more than you anticipated for Halloween celebrations, costumes, and even treats like cider donuts and pumpkin-flavored everything add up. Factor in that October is the new June when it comes to
weddings and you could be giving out more than candy this Halloween!
What can you do to enjoy the season without breaking the bank?
First of all, don’t be scared! You are not alone. The pressure to spend money to get the most Instagram-worthy photo of your matching family costumes or picking apples all while “living your best life” is real. So here’s some advice that can work, faster than you can say BOO!
Be real and start by normalizing talking about money with your friends and family. We’ve just emerged from a pandemic, are side-stepping a recession and battling
inflation every day. Kids might not understand (and adults might not want to talk about it) but we all KNOW things are expensive so let’s talk about it.
Talking about money normalizes the topic and takes the shame out of it.
Optimize your learning! Sure, spending less than you make is ALWAYS a good rule to follow. But, it’s not your Grandpa’s financial life – it’s yours – so modernize it, customize it and be open to all kinds of opportunities to learn.
You can sing about saving with your children with Rockland Trust’s
Ms. Money’s Classroom, a free online curriculum that sings the tune for financial literacy, or you can master personal finance jargon through the No Shame in this Money Game’s
Mini Money Minutes podcast while drying dishes or commuting to work.
Open your eyes. Everything is scarier in the dark – bring your financial situation into the light so that you can see what you have, what you’re missing and how to get to where you want to go in your financial life. Comparison is the thief of joy, they say (and we ALL need more joy) so try not to compare yourself to others. You are on your own path and with eyes wide open, a little bit of learning and some patience and persistence; you can achieve your
financial goals!
Still scared? Try these pro-tips in October to make your end of 2023 a little less financially stressful.
- Skip the pumpkin treats every once in a while and every time you say “no” to stopping for coffee, take-out or that random thing at the farmer’s market you don’t need, take the money you WOULD have spent and transfer it to your savings account. It just might give you the same adrenaline rush of buying something because you are saving for YOU!
- Name your savings account. It doesn’t cost anything for you to have multiple savings accounts so open a few and name them different things for different goals. Go the extra mile and set up automatic transfers to these accounts…set it and forget it!
- Remember that your bank is here to help you! You aren’t alone and our Rockland Trust experts are here to help empower you to live your best financial life.
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