October ushered in the long awaited arrival of Fall and after a hot September like we had, it was a welcome change. Now that Autumn is in full swing it’s time to get cozy while we round up October’s Money Mondays!
October’s first tip gave you a good excuse to hold on to summer a little bit longer:
Travel in October
Missed your summer vacation because you were saving? You can still vacation this year, and for a great price.
The alternative to taking a family summer holiday is to travel in October instead. You can save 25-40 per cent over peak summer prices and the sweltering summer heat in places like Florida will be just to our liking now!
Our next tip gave readers a money-less Monday challenge:
How About a No-Money Monday Tip?
Have you heard of a no-spend month? Many people are trying it.
The premise is that you spend $0.00 for one full month. You can set the limits on how far you want this to go. Do you want to keep yourself from spending money on take out food? Do you want to save money on gas? Some people allow themselves to spend money on only the true necessities. You set the rules on what you can’t spend money on for the month.
Try it and you may just save yourself enough money to get through the holidays without the usual stress!
After that great tip, we offered our readers a way to keep their no-spend promise:
Why Not Change Your Christmas Money Spending Traditions?
Christmas shopping is just beginning. You may have already heard someone say they’re done already.
How many meaningless gifts would you say you purchase each Christmas? A lot of times we buy gifts as a tradition, without recognizing if we are simply buying something just to say we did. Why not have a talk with friends and family members about not buying each other gifts this year? You don’t have to do this for everyone, maybe just for your friends, or extraneous family members.
Odds are you’re making someone else’s list a lot lighter too!
Once we asked you to ask your family to lighten up this Christmas, we asked you a heavy question:
Do You Really Know How Your Money is Doing?
It’s hard to keep track of budgeting when your attention is being pulled in every other direction that life demands.
Luckily, someone has already created an app to solve that problem for you.
A favourite app of one of our advisors, Jordan Gillespie, is the Mint app (find it on iTunes). You set budgets and link your accounts to the app and it reminds you if your about to reach your budget and tracks your spending to help show you where you could cut back. Jordan recommends it to many of his clients.
There are tons of apps out there for money management, find one that takes budget balancing from your parent’s chore to your iPhone’s easy task!
We ended October with an old tried and true call to action:
Invest Now. Yes Now.
We’ve already told you that the best time to invest is yesterday. The second best time is today. T
“The longer you invest for, the more money you’re going to make. You’re going to have your ups and downs; but if you invest from [the ages] 23 to 33 versus someone who starts at 33 and invests until they’re 53, the person who starts at an earlier age because of compounding rates of return will end up with more money.”
Don’t be discouraged if you’re not 23! Start investing today and don’t let a day of compound interest go to waste.
We hope our Money Monday tips got you moving this October. Stay tuned for our next edition of our Monthly Money Mondays Roundups!