From a financial standpoint, the month of October can be absolutely critical. Summer vacation season has come to a close, which could mean your financial life may start to seem a little more normal. At the same time, holiday travel and shopping expenses loom. All of this makes October a smart time of the year to hunker down, review your financial statements, and make a few key moves that will position you for a smooth and successful end of the year.

Here are four specific financial moves we’d recommend you make in these crucial weeks leading into the holiday season.

Confirm Your Travel Plans

Will you be hopping a plane to see family members this Thanksgiving? Or perhaps hitting the highway for a Christmas road trip? Now’s the time to start finalizing some of those travel arrangements, and also to appraise the financial impact of these travel plans.

There are a couple of reasons why this is important. One is that you may need to save and/or budget for some of those big holiday expenses, which means it’s smart to gain a clear assessment of exactly what those expenses will entail.

Additionally, moving on those plane tickets now can help you secure the most affordable prices; if you wait until the last minute to book that Thanksgiving airfare, you may regret it! (That’s not a threat; just a reminder that travel costs increase closer to the departure date.)

Perform a Credit Check

As you probably know, everyone gets one free, annual credit check. If you haven’t already pulled your credit report in the last 12 months, do so in the month of October. It’s very easy to do, and you can learn more by visiting www.Annualcreditreport.com. 

Taking a quick look at your credit score can not only help you to better assess your own credit health, but it may also be useful to you as you try to make big financial plans for the coming year, whether that’s buying a house, purchasing a car, or simply trying to pay off some debts.

Start Thinking About Your Taxes & Retirement Plans

Yes, we still have a long way until April 15… but if you start thinking about your taxes now, there may be some steps you can take to minimize what you owe the IRS. For example, if you’re not sure of your current paycheck withholdings, now is a good time to verify it. 

Along the same lines, remember to be making annual contributions to your retirement account, whether that’s your Roth IRA, Traditional IRA, or a 401(k). If there’s an annual maximum you still haven’t met, see if there’s any wiggle-room in your budget to pitch in just a little bit.

Adjust Your Banking Strategy

Are you satisfied with your bank? If not, there may be some merit in reviewing alternative options here before we get into the hustle and bustle of the holiday season.

Of course, we’d especially recommend you give Binji a look. Here are just some of the reasons why you might find yourself grateful for Binji banking come the holidays:

• It makes it easy for you to review and transfer between your accounts, all from an intuitive smartphone app; Binji puts financial management at your fingertips!
• Binji also lets you avoid fees. Around the holiday shopping season, it’s normal for the ol’ checking account to get a little bit tight. When you bank with Binji, you won’t have to worry about onerous overdraft fees.
• Finally, Binji makes it easy to split and share payments on the go… something that can be handy as you’re traveling, shopping, or simply enjoying the season.

Make Smart Financial Moves Today

Now is the time to reflect on the state of your finances, and to make some prudent moves that will position you for ongoing success. Consider some of these financial moves today… and don’t forget to download the Binji app at your convenience!