Alexandra Cain Finance Writer
Spring is here, a great time to check in and make sure you’re still on track to meet any financial goals you set at the start of the year.
If you have let your budget slide, there’s still time left this year to re-focus on your financial future. Here are our tips for refreshing your approach to money for the rest of the year.
1. Check in with your budget
It’s all too easy to set a budget at the start of the year and let it slide as you get busy with work, family obligations and everything else that fills our busy lives.
So now’s the time to make sure your spending hasn’t spiralled and rein in any overspending that might have happened over the course of the year.
Remember that a budget is a living document and if you have acquired any additional expenses so far this year, don’t forget to account for them in the budget for the rest of the year.
2. Review your savings goal
In the same way you should set a budget at the start of the year, it’s also a great idea to have a savings goal you work towards during the year.
Check in with your goal. If you’re on track, give yourself a pat on the back. If you’re not, don’t beat yourself up. Look at why you haven’t been able to meet it and adjust it if it’s unrealistic.
3. Start planning for Christmas
It’s only two months until Christmas – but don’t panic, there’s lots of time to prepare.
Start making a list and checking it twice - of all your Christmas expenses. If you start planning now you’ll save yourself a lot of stress when the holiday season arrives.
4. Look for new money-making initiatives
Why not think about how you could make some extra money in the lead up to the festive season? As it’s spring, clean out your house and make three piles: items for charity, items for a garage sale and items for the next council clean up.
That way, you’ll be giving something back, have an opportunity to make some extra money and clear out broken and damaged furniture and toys that are only cluttering up your house.
5. Start planning your financial new year's resolutions
Was there one thing you'd do differently from 2016? Now is a great time to take look back and start thinking about how you'll tackle things in the new year with a fresh attitude and new goals.
Spring has sprung, so don’t miss this opportunity to make sure you’re still on track to build a firm financial foundation.
About the author
Alexandra Cain is a finance journalist who contributes regularly to The Australian Financial Review, The Sydney Morning Herald and The Age.
Please note that this article is not financial product advice and does not take into account any person’s individual objectives, financial circumstances or needs.