MONTHLY MONEY SAVING GUIDE – OCTOBER
Smart Ways To Save Money During October
October is such a blissful month that it causes many people to lose track of their budgets and their money saving efforts.
Are you looking forward to October? ‘Coz I sure am.
Bliss (Before The Next Storm)
The back-to-school craziness is over and kids are settling into their routines. Its time for football and band practices.
Autumn and fall are well and truly upon us. That means orange is the official color of the month. Everything around you turns a hue of fall orange – rust, tangerine, apricot, honey, bronze. It is all warm and fuzzy.
For most people, it is the last month before winter sets in. While it is still quite warm where I am, for others the weather is just right for sweaters. Fall fashion is a beast of its own.
Pumpkins are the official mascot of the month. And a way of life. Around this time of the year, this bright orange perfect for carving squash acquires larger-than-life status. It is no longer just a vegetable. It is an activity, a decor, an entire menu and a rite of passage.
October is the month when adults bring their inner kids out. Ooh the delight of buying, making and wearing costumes that look like this.
Let us not forget the CANDY!
My favorite part of October is the once-a-year spectacle that nature puts on for us – leaves donning vibrant colors along with the carpet of crisp, crunchy foliage. Perfect time for a scenic drive or a weekend vacation.
All these things cost money. The expenses can add up. So how can YOU save money this October yet enjoy the wonderful things the month has to offer?
That is why I have compiled this list of ways to save money this month. With these smart money saving tips you can actually save money and maybe even put some aside towards your Christmas budget.
Before we understand the best ways to save money, let us prepare and budget for the things happening in October.
What Happens in October (What To Budget For)
A few more related posts you may like to read:
- Monthly money saving tips – September
- How to budget for Christmas
- 3 challenges to help you save money for Christmas
- Best money advice from finance bloggers to save you from going broke this Christmas
Halloween spending was estimated to be $9.0 billion in 2018, according to the National Retail Federation. Yet it is one of the more affordable holiday. It doesn’t cost as much as Christmas or even Thanksgiving.
Last year the people celebrating Halloween were planning to spend on average $86.79.
Think of what you are planning to do – hand out candy, decorate your home and yard, wear costumes, carve a pumpkin, take kids trick-or-treating, throw a party, visit a haunted house or dress up your pet in costumes. This will help you decide how much you want to spend and if your budget can afford it.
BONUS TIP: The best chance to snag a discount on your costume and decor would be about a week before Halloween. Though your choices would be limited.
Does your family bond over American Football? With NFL, College and High School football in top gear this month, parties and eating out can’t be far behind.
If your kids play a sport or are in the marching band, budget an amount for their gear and training costs. Are you going to be driving them for training and tournaments?
Consider all the days when you will be going out to watch a home game, watch your kiddo’s marching band or having friends over at home to cheer. Each meal you eat out or have people over means higher food costs.
Are you planning to pack your bags and head out in October?
Fall weather is perfect for exploring. The foliage is stunning, the weather is sweet and the treats are pumpkin-spiced. The crowds are fewer, the prices lower and destination not crowded. What’s not to like?
Oh, these school pictures – they can cost a pretty penny! While you want to order them for memory, their packages cost anywhere from $50 – $200. How much do they cost at your child’s school?
If you are considering getting school pictures, make sure your monthly budget has them planned out.
BONUS TIP: Check if your school allows digital copies which you can print on your own.
Diwali is all about gifts, new clothes, food, fire-crackers, and parties. The expenses pile up.
BONUS TIP: If you celebrate Diwali and don’t want your monthly budget going for a toss, then consider having a sinking fund going for Diwali 2020.
Now would be a good time to look at your winter wardrobe to see what you need to buy this year.
If you want a great price on a new winter coat, the best time to buy would be January and after. Spring fashion starts hitting stores in February, so stores start discounting their remaining winter inventory. If you can afford to wait till then, you could save some money.
Hope you have your fund for Christmas going. Continue to save for it this month in order to avoid going broke next month or incurring expensive credit card debt.
Once you have budgeted for these, how do you actually save money this month? While it is important to be frugal throughout the year, here are my top money saving tips for October
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Top Money Saving Tips – October
Let us talk of easy ways to save money while allowing yourself to have fun and enjoy the best this month has to offer. Some of these tips to save money are frugal living ideas that you can apply throughout the year while saving tips are specific for this time of the year.
Take advantage of seasonal vegetables
Squashes, apples, and root veggies are in plentiful supply around this time of the year. Choose your menus to include plenty of these. Think roast vegetables, pies, and crumbles.
Winter soups are a great way to incorporate these vegetables. Plus you can make a large batch and freeze them for the winter. Think about buying them in bulk to reduce the price.
Make holiday shopping lists
Holidays can be crazy. Start planning for them now to stay on top of things and within your budget. List down all your gift recipients, gift ideas, budgets, meals to cook, recipes to make, grocery shopping lists, decorations you own and what you want to buy.
This kind of detail helps me stay organized, save time and money, and avoids duplication. Plus just putting it down on paper is the best way to prevent overwhelm.
Be smart. Be safe
Frenzied holiday shopping season is the best time for scammers to target unsuspecting victims busy with their holiday preparations.
Here are some ways scammers are luring people to part with their money.
In order to avoid getting trapped remember not to reveal any information about your bank, credit cards to ANYONE. Even if it seems to be a mail from your bank or local retailer if it asks you to confirm your account data or click on a link, treat it with the utmost suspicion.
Rooting for your team can be an expensive proposition – from apparel to the big screen t.v.
My first piece of advice would be to evaluate how much you can afford to spend on these. While saving money is the focus, it isn’t necessarily bad to spend money on what you value, how much you value it. Also, know how much you can afford to spend. Then go ahead and spend it.
What if you can’t afford it? The other way is to save these purchases for later. The offseason is a great time for apparel just like Black Friday is for television and other electronics.
I would suggest you wait for a few months to make your purchases. Use the interim time to build up a sinking fund for these purchases.
Prepare Your Home For Winter
I said this last month a well.
But in case you haven’t done this already now would be a great time to do so.
Clean your furnace filters, check your roof, reseal your windows for any gaps in the insulation. These small tasks can help you save on a ton of fuel and money in the upcoming winter months.
Oh, those Pumpkin Spice Lattes and other caffeinated beverages – they can spoil your budget. Why not try a DIY Pumpkin Spice Latte instead?
Things To Buy In October To Save Money
- Air conditioners
- Outdoor furniture
- 2019 Car models
- Summer clothes
- Apples, grapes, eggplants, kale, cabbage, broccoli, corn, squash, and sweet potatoes are harvested this month. Take advantage of their low price and fresh inventory.
- Flight tickets and hotels
Plan And Save For the Upcoming Months
Black Friday and Cyber Monday
Be mindful that these crazy shopping days are coming up next month. Knowing what you want to buy – for the house or for gifting during Christmas – can help you avoid the insanity of these days.
In 2018 Americans planned to spend an average of $142 on their Thanksgiving meal.
Planning your menu before shopping, using couponing, making it a potluck, and buying early (when you see a deal) and freezing food are some ways to save on money. Each of these requires starting ahead of time.
Does December break your back and your budget? Do you spend the next few months in stress trying to pay your credit card debt?
Here are some things you can do to be better prepared financially and enjoy Christmas with friends and family.
According to statistics, 48% of Americans plan to celebrate New year’s eve at home.
Whether you intend to stay at home or go out, think of how much you can afford to spend so soon after Christmas.
The holiday season is just about starting. Which means more celebrations, more parties, and more spending.
October is the perfect time to snag summer products on a discount, enjoy the best of fall sights, sounds, and foods, as well as prepare for winter.
It is the right month to get your money and finances planned out for the next few months in order to avoid heartburn and stress.
Don’t get fooled by the bliss of the month. It is just the lull to help you prepare for the financial storm of the next few months.
How are you saving money this month? Comment below to share your best money saving tips.