Fall into Financial Success: Your Autumn Financial Cleanup Guide

As the leaves begin to change colors and the air turns crisp, it's a sure sign that autumn has arrived. While many of us associate fall with cozy sweaters, pumpkin spice lattes, and apple-picking adventures, it's also an ideal time to give your finances a little TLC. Just like you rake up those fallen leaves in your yard, it's a great opportunity to tidy up your financial landscape. Let's dive into some autumn financial cleanup tips to help you get your financial house in order.

1. Review Your Budget

Start your financial cleanup by revisiting your budget. If you don't have one yet, consider creating one. A budget is your roadmap to financial success. It helps you track your income and expenses, ensuring you have control over your money. Review your spending habits and identify areas where you can cut back. As the holiday season approaches, having a well-planned budget will keep your spending in check. Using a budget and expenses tracking app can help you reach your budget goals. 

2. Check Your Credit Report

Your credit report plays a crucial role in your financial life. It affects your ability to secure loans, get favorable interest rates, and even land certain jobs. Take advantage of your free annual credit report and review it for errors or discrepancies. Clearing up any inaccuracies can positively impact your credit score. There are many online apps that will allow you to easily view your credit score. 

3. Prepare for Tax Season

It's never too early to prepare for tax season. Review your financial records and ensure they're organized. If you anticipate a tax refund, consider how you'll use it wisely, whether it's paying off debt, investing, or saving for a specific goal. Being proactive about taxes can help you avoid the last-minute scramble. Contacting a certified accountant near you can be incredibly beneficial, or you may choose to use an online service to help you to do your taxes yourself. 

4. Evaluate Subscriptions

Are you still using all those streaming services, magazine subscriptions, or gym memberships you signed up for? Autumn is a perfect time to review your monthly subscriptions. Cancel the ones you no longer use or need. This can free up extra funds for other financial goals. Use our online banking app to review your financial transactions and spot unwanted subscriptions. 

5. Check Your Insurance Policies

Review your insurance policies, including auto, home, health, and life insurance. Ensure your coverage is up to date and adequate for your needs. If you've experienced significant life changes, like getting married or having a child, you may need to adjust your policies accordingly.

6. Plan for Year-End Financial Goals

With the end of the year approaching, consider your financial goals. Whether it's saving for the holidays, contributing to your retirement accounts, or making charitable donations, having a clear plan will help you achieve your objectives. Don't forget about your employer's open enrollment period for benefits like health insurance and retirement plans.

7. Start an Emergency Fund or Boost Existing Savings

Financial experts recommend having an emergency fund to cover unexpected expenses. If you don't have one, consider starting now. If you already have an emergency fund, evaluate whether it needs a boost. Life's unexpected events can be financially less stressful with a well-funded emergency fund. Click here to start a savings account with FNB, and save for future emergencies. 

8. Set Up Financial Check-Ins

Consider scheduling regular financial check-ins with yourself or a financial advisor. These check-ins can help you stay on track with your financial goals, answer any questions you may have, and make necessary adjustments to your financial plan.

9. Protect Your Identity

Identity theft can happen at any time of year. Take precautions by monitoring your accounts regularly for suspicious activity. Consider enrolling in an identity protection service like Kasasa Protect offered by First National Bank of Hartford. It provides comprehensive identity protection, credit monitoring, and more to help keep your financial information secure.

10. Declutter and Donate

Autumn is synonymous with cleaning up and decluttering. As you go through your closets and attic, consider selling or donating items you no longer need. The extra cash from selling items can be a nice addition to your savings.

Final Words

Autumn offers a perfect opportunity to refresh and rejuvenate your financial situation. By following these autumn financial cleanup tips, you'll be better prepared for the upcoming holiday season and the new year. Remember, financial well-being is an ongoing process, and small changes now can lead to significant benefits down the road.

If you have questions or need assistance with any of your financial goals, contact us. We're here to help you make the most of your financial journey.

Happy autumn financial cleaning!

Note: This article is for informational purposes only and should not be considered financial advice. Please consult with a financial advisor or professional for personalized guidance.