Financial Self-Care Tips for the Fall Season

_{By Bromwich+Smith Staff | 637 words | Reading Time: 3 minutes | Date: 2022/10/25}

With the days getting shorter and the temperatures getting colder, it’s not surprising that many of us experience a change in our physical, mental AND financial states. While fall may not be the best time to revamp your finances, make lofty goals, or aggressively change your habits, it’s a great time to slow down and really consider how you’re taking care of your financial health. With the holiday season fast approaching, consider the toll extra spending can bring and take this time to develop good financial self-care to help you through this season.

Think of your financial wellness as a crucial part of your self-care. Just as it’s important to have good physical and mental health, your financial health can drastically improve your quality of life and prevent hardship. We’re not talking about bubble baths and exercise here, though that may fit into other forms of self-care. Practicing financial self-care means developing habits that work for you and reflect what you’re trying to achieve with your money. Regular financial self-care practices will help you work towards your financial goals and ease financial stress. Here are five ways to practice financial self-care this fall:

Budget for joy

What brings you joy? Be thoughtful about how you spend your hard earned money, and put it towards decisions that are important to you. You get to decide what this is, whether it’s a monthly manicure, eating out, or spending money on travel, decide what brings you the most happiness. The key is to make sure your budget accounts for all outgoing expenses, savings, and joy-giving areas, while making sure what you’re bringing in accounts for what is going out.

Invest in yourself

Just as you invest in yourself with a gym membership or food delivery services, it’s important to invest in your financial literacy. Make a list of finance books to borrow or check out from your local library. Visit our recent blog on top finance books to read here. Look into online courses that can help you understand topics that you’re unfamiliar with or interested in. Want to go further? Get started with a financial coach to help you gain clarity around where you are financially, where you want to be, and how to get there. Don’t wait for January 1st to start investing in your financial knowledge.

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Give to yourself

Make giving to yourself just as rewarding as giving to others. Just as you feel good about buying gifts for a loved one, so should you feel good about putting a little extra into your savings, RRSP account, or slush fund. Fall can be a great time to take part in a buy nothing challenge and put the extra money into savings or towards paying off debt.

Prepare for the holidays

December will be here before you know it, and while many people cram all their holiday shopping into one month, try planning ahead. Be kind to yourself and your bank account by approaching the holiday season, both mentally and financially, with intention. Talk with family and friends about how you might exchange gifts, and suggest other ways to celebrate without excessive gift giving. Create a budget for holiday gifts, entertainment, decorations or hosting costs, and do your best to stick closely to it. Your wallet will thank you in January.

Seek help if you need it

This is a critical time to look after your mental and emotional health. The best thing that you can do is to take care of yourself, and know that it’s ok if you need help from others. Look into daily practices that you can implement on your own, and don’t hesitate to get help with your finances if you need to.

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If your debt is overwhelming,  reach out for a free, confidential, no obligation consultation. Bromwich+Smith’s Debt Relief Specialists are available by phone at 1.855.884.9243 or request a call back at our contact us page.