Follow These Money Management Strategies Year-Round

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It may not be the beginning of a new year, but you’d be wise to plan ahead for any future expenses you can expect in forthcoming months.

There are some fixed budget items you simply can’t avoid, like rent/housing payments, property taxes and health, home, and car insurance, car maintenance fees, and so on. Then there are variable costs, or any expenses that are optional or within your control. Variable costs can include the money you put towards groceries and food, clothing, entertainment, recreational activities, spa services, magazine subscriptions, etc.

By separating your budget by fixed costs, variable costs, and any long-term savings goals, you’ll learn how to manage your money in a way that sets you up for success.

New Era Debt Solutions provides ways you can smartly strategize your budget:

Make a Game Plan

Write down your monthly fixed expenses, and then include any savings you’re working towards, whether it’s a wedding, family planning, college expenses, or a house.

Now, think about what upcoming seasonal expenses you have coming up. Here is a short list outlining common seasonal activities you can prepare for financially over the next few months:

Memorial Day travel plans

June – July
Summer travel plans
Babysitter and/or summer camp (once your kids are off for the summer, they’ll need someone watching over them)

August – September
Back to School shopping
Labor Day travel plans


November – December – January
Thanksgiving dinner food
Black Friday shopping
Christmas/holiday gifts
Christmas/holiday parties
Holiday travel plans

Valentine’s Day gifts and outings


Anticipate Various Financial Scenarios

This is especially important if you work for yourself or are a business owner. For some companies, their ‘fiscal year’ may only last part of the year (note: this will affect how these types of businesses file their taxes). Or perhaps you experience less business during slower parts of the year and will see a dip in your usual income.

During these times – whether you’re a business owner or work for one – it’s important to think ahead about what kind of budget changes you may need to make, as well as any other financial outlets you can access that will help you fill in the gaps. You may want to consider creating budget variations to account for any financial changes you may experience in a given year.

Prepare for the Worst

We at New Era Debt Solutions cannot sing enough praises about the value of having an emergency savings fund.
No one plans to be out of a job or can predict when their car will break down or if they’ll encounter a medical emergency. Our past blogs have addressed the importance of an emergency fund – we believe everyone should have at least $1,000 saved in an emergency fund. If you set aside a minimum of $50 each week, you’ll have $1,300 saved by the end of six months.

New Era Debt Solutions has settled more than $250,000,000 dollars of debt since 1999 and wants you to be our next success story. If you need assistance achieving financial freedom, contact one of our friendly counselors at New Era Debt Solutions to learn more about finding the debt relief option that best fits your needs and budget. Our counselors are with you every step of the way.