How to Plan Your Finances in Time for Spring

 

Spring is around the corner and I love this time of year.  Flowers and trees are blooming, weather is getting warmer, and kids are starting to play outside.  You probably have tons of goals not just for the spring, but also for the summer.   You might be looking at travel sites for deals to travel or shopping for a cute spring outfit.  Regardless of your goals, remember to stay on your budget and plan ahead.  This is a perfect time to look at your budget, expenses and upcoming events.  Being financially responsible is part of an organized living lifestyle.  So here are a few easy tips I use when planning financial success: 

Step 1: List all major upcoming expenses for the next 6 months.  I like to use the 6-month timeline because financially it makes more sense.  For example, if you are planning for a summer vacation with the family, it is a large expense that can, for the average family, take approximately 4-6 months of planning and paying for it.  When listing all upcoming events, don’t forget to include home improvements that you have been putting aside.  That roof will not fix itself.  Or maybe you have been wanting to hire a professional organizer to help you get your life organized.  So, list your items from most important to the items that are simply your wants and wishes.

 

Step 2: Calculate how much each upcoming expense will be. Also, it is important to include the timeline of when the expense will be due. I like to write this stuff down so I can see it on paper.  It's like a road map for your money. 

Step 3: Look at your budget and see how you are paying for all these expenses.  Try to avoid putting these expenses on a credit card unless you are planning on paying it off right away.  In my family, we learned the hard lesson of debt.  It is not fun to live now and pay for the things you did years ago.  It prevents you from enjoying the things you want to do today.  So, we try to pay for everything we want with cash.  

 

Step 4: Talk to someone about your plan.  This is a very important step for a couple of reasons.  First, it is important to share your thoughts with someone who’s opinion you value.  A second opinion is always helpful.  It can be your spouse, significant other, family member or a friend.  You want to make sure you are aligned with your plans and the money you will be spending.  Secondly, it’s a great way to stay accountable and put your plan into effect.

 

Anyways, hope these steps help you not only in getting organized in your events, but also financially keep you responsible.  Remember to prioritize even if that means you might need to put that weekend getaway on hold.  For any questions or more specific content, please email me at ILoveOrganizedSpace@yahoo.com  and thanks for reading!