If you’re struggling to save money, then you might be glad to hear that there’s actually a fairly simple solution to help you out; predicting when your expenses will rise. As you may know, there are certain times of the year that will end up costing you a lot more money than other months. A good example of this is Christmas; a season where you’ll spend a lot of money on presents, decorations and food to celebrate the festive period.
In this article, we’ll be giving you a month-by-month guide to help you decide when to save money and when you’ll likely be forced to spend it. With these predictions in mind, you’ll have a much easier time deciding when to work a couple of extra hours and when you can take it easy.
Coming from Christmas, January is likely a time where your bank balance is fairly low. This is a good time to start saving money and working a couple of extra hours to raise your savings. For freelancers, this is also the time to be paying off your taxes, so you’ll likely want to have a big chunk of savings ready for this.
February is usually a quiet month that won’t force you to spend much money. However, the middle of February is half term for most schools, so if you have children you’ll probably be spending a bit of money on activities with your children or going on a little holiday break. If you’re planning activities with your kids, then this is a month where you’ll likely be spending.
March is another relatively quiet month and a great time to start saving money because there aren’t many activities, events or celebrations going on. This is a good time to start saving for a summer holiday and Easter events next month.
With Easter holidays to worry about, April is a month where you’ll likely be spending a lot of money. This is fairly normal for most families with children.
May is a good time to save money because it’s rather uneventful outside of half term for school children. Some university students might also be finishing their exams around this time, so it’s a good time to save some savings ready to celebrate with your children. You should also start saving money for the upcoming summer holiday, and also for any school fees that you may need to pay before the September semester starts.
The end of June marks the start of summer, so make sure you’re saving up plenty of money for holidays, breaks and going out with your children.
The summer holidays start in July, marking a period where you’ll probably be spending a lot of time with your kids and potentially going on holiday yourself. This is one of a few periods in the year where you’ll likely be spending a lot of money, so it’s a good idea to have savings ready for this.
Virtually all of August is part of the school summer holiday period, so again, you can expect to be spending a lot of money around this time. Budgeting for these periods becomes incredibly important, especially with Christmas looming. This is also a time to be putting money down for things like school entry fees, back-to-school supplies and perhaps a new uniform for your child.
September marks a calm period when your kids are going back to school and they’ve already been well-equipped with a fresh range of school supplies. This is a great time to start saving money before the festive season.
Most of October is relatively quiet until the last two weeks. This is when most schools will have a half-term holiday and the end of October is also Halloween. Many families spend a lot of money during Halloween on things like sweets, decorations and costumes, so it’s difficult to save money this month.
November is the calm before the storm. With Black Friday at the end of the month, it’s a good time to pick up cheap presents and gifts in preparation for Christmas. You’ll want to start utilizing Christmas money-saving tips during November in order to lessen the impact that the Christmas season has on your finances.
December is the month where you’ll probably be spending the most money in the year. All of your savings will lead up to this month because of the holidays with your family, Christmas celebrations and also New Year gatherings. The period between November and December can be expensive, so make sure you’re saving up plenty of money during the first half of the year.
How do you save money from month to month?
This is a collaborative post