Money Monday: Smart fall money moves - KFVS12 News & Weather Cape Girardeau, Carbondale, Poplar Bluff

Money Monday: Smart fall money moves

(Source: KFVS) (Source: KFVS)
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Now that the kids are back in their school routine, you should have a quiet minute or two to focus on a few money matters that are good to take care of in the fall.

A lot of families overspend in the summer, so fall is a good time to get your budget back on track. Something that might help is deleting any credit card information you’ve stored on retail websites. That will make it a little harder to cash out your cart if you’re shopping online, which may keep you from spending outside your budget.

Right now is also a good time to start a holiday fund if you haven’t already. Figure out what you spent last year, then start having a set amount deposited directly into your savings account from your pay check. Putting away money now ups the chance you won’t carry a credit card balance into the new year.

Fall is also the right time to do a couple of things when it comes to your healthcare. If you have one, take a look at what’s left in your flex spending account. That money usually goes away January first. If you have money left, now is the time to make some appointments or renew prescriptions. Also, fall is the time to review your health benefits from your employer and decide whether to make any changes. When the open-enrollment time comes, you’ll be ready to add or subtract a Health Savings Account or change to a plan that will better suite your family’s needs.

Fall means winter is right around the corner, so it’s a good time to winterize your home and your vehicle for the colder months. Installing insulated windows and hanging insulated curtains are just one of a few ways you can work now to save money on heating bills later. Take your car in for a maintenance check and take care of basic things like oil changes, radiator flushes and other necessities. Dealerships and other service providers often offer special deals this time of year, so that can help you save on maintenance costs.

And as the new year approaches, the time to contribute tax-free to your retirement account declines. Financial experts say now is the time to max the contributions to your 401(k).

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