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 five tips to keep your spending in check and finish 2019 out strong:
- Don't transfer money from your savings account to your checking account unless it's an emergency. This will help you avoid unnecessary purchases.
- Read the fine print when signing up for a new subscription or service. Otherwise, you may find that you are enrolled in a service with an automatic payment plan.
- 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 you are shopping for food, clothing or household items, create a list before you head out and stick to it.
- When shopping online, 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.
Visit GreenPath to learn more ways to develop and stick to financial healthy habits.