Lazy sunny days, cocktail-blue skies, breezy vacations… what’s not to love about summer? And let’s face it, summer is the perfect time to indulge.
But come September, fall starts to set in and so does our realization that school, work, or that big project we’ve been working on are about to resume.
So how do we get our finances back in shape and breathe new life into our ambitious plans? Here are our best tips.
Lazy sunny days, cocktail-blue skies, breezy vacations… what’s not to love about summer? And let’s face it, summer is the perfect time to indulge.
But come September, fall starts to set in and so does our realization that school, work, or that big project we’ve been working on are about to resume.
So how do we get our finances back in shape and breathe new life into our ambitious plans? Here are our best tips.
Know where your finances stand
Start by evaluating your current financial situation and determining for example, if:
- you have debt, loans, money otherwise owed;
- you have projects to finance (such as studies), and you are looking for new ways to do it;
- you over-spending on things you may not need;
- you have any kind of recurring payments.
Next, assess your income situation: are you relying on savings, recurring income such as a salary or a scholarship, are you leaning on parental financial support?
This brief analysis of your expenses vs income will help you determine your next steps and optimize your budget moving forward.
Plan out your month-to-month budget
Once you’ve determined how much you spend, where, and what you would like your finances to look like, you can start planning your monthly expenses.
Try to think of all the costs you’re likely to incur, such as living and commuting costs, bills, health, traveling, and so on.
Don’t forget that it’s fall and the holiday season is right around the corner. So if you’re planning any extra trips home, gifts, or simply sending money to support your family, this should make it into your budget.
Do you frequently send money back home? Use Fin.do and your money will get there in seconds, not days.
Create (or resume) your money-saving project
Saving money is like working out: we often start doing it but just as often lose our motivation to carry through. If you’re determined to start saving with a particular goal in mind, here are a few tips that can help:
- Set priorities and determine nice-to-haves vs must-haves;
- Avoid unnecessary expenses such as memberships and subscriptions;
- Think twice before shopping for new items;
- Watch out for extra-costs such as bank fees, currency exchange charges, or delivery fees;
- Use a tool to keep track of your progress.
Use the right services
We all have a favorite app for shopping, ordering food, or getting our news, so why not find the best app to make payments?
We think it’s worth spending some time selecting the most convenient way to send and receive money because it can save you fees and charges that you would normally have to pay when making a bank transfer.
Before making your decision, consider factors such as total cost and fees, availability in your region, currencies supported, transfer speed, whether you want a new card or use your existing ones, and so on.
Remember — at the end of the day, you want to choose something that’s convenient and helps you save at the same time.
When you send money abroad, use Fin.do to avoid currency exchange charges, no matter where and which currency you send.
So, are you ready to turn over a new leaf with your finances? We hope this article helped!
Happy transfers!
