Summer is in full swing. Temperatures are rising, vacations are happening, and bills are continuing to come in each month. Bills? You know, those little envelopes that show up in the mail around the end of the month for all the stuff we bought or used during the previous month. Yes, even though its summer and the kids are out of school and we might even take a few extra days off work to enjoy it all, we still have bills to pay and our personal finances to manage. I not writing this little note to keep you from enjoying your summer, I’m writing it to remind you of a simple way to make sure that in all the fun you don’t fall out of the financial boat that you’ve been diligently maintaining through the winter.
The best way to do this is by making a plan in advance. Simply put, before each month begins (July starts tomorrow so do this today!) spend all the money you have on paper. That’s it! Write a list of all the bills and expenses that you typically have, including those special trips and outings you may have planned, and then using your monthly income balance your budget in advance. Make sure every dollar has a home to go to in advance, and you’ll be less likely to spend money that belongs to another category (like spending your rent money on the 100 gallons of ice cream needed to combat the heat). Take the extra step and prepare the checks and stick them in their envelope marked with the date they need to be mailed and you’ll have even less “financial work” to do later on in the month. Following this method will also help keep your spending in check and ensure that all of your financial goals continue to be met during the summer months.
Money Talk With Gabe 