October is Financial Planning Month and looks like a spooky time for finances.  With the holiday season around the corner (gifting expenses), and 2023  approaching, October is a great month to get finances and budgets in order before life gets on a busy track.  

Invest in October

Use this month to look at different investment opportunities that fit your budget.  It is important to invest in your future and is never too late to start planning.  Track savings and spending whether it’s through an app, spreadsheet on your  computer, or paper budget sheet. Staying on top of finances and detecting some  patterns that need to change will make your life easier and you will feel a sense of  relief. 

Why is this important you may ask? It reminds us to invest in ourselves. Take  some time from mindless spending and be sure to invest time and money in your  future. Spreading awareness on managing finances you don’t need will make you  take a look at things in a different light, and you don’t need a detailed system for  this. This shows the value of having responsibility for your finances. The actions  right now determine what your future will look like and create that responsibility  you need. 

Make plans to plan for your future

With the year coming to an end and the new one right behind it, now is the right  time to think about what you did in 2022 and what you can do better in 2023.  Maybe you want to try something new and want to do things differently. The  financial future is in your hands. Being proactive and planning is important. It doesn’t matter where you are in life. Whether you are a recent college grad, a newly married couple, or at the retirement stage, you need a financial plan. 

In our lives we plan everything from birthdays, vacations, and weddings. We plan  for our day. We make plans to plan. But, unfortunately many people don’t plan  with their money. This is shocking, because there’s an entire month dedicated to  this type of planning.  

What is financial planning you may ask? Well, it is more than saving, more than  investing, and even more than an investment portfolio that is well put together.  Financial planning in the basic form is laying out a map of financial goals including 

short term, intermediate and long-term goals. They say savings without investing  and investing without planning won’t get you there. 

Why have a financial plan? A lot of people struggle with finances in their lives.  Growing your wealth involves looking at the whole financial picture and how it all  interacts with each other.  

What goes into a plan? You need to have an accurate picture of your financial  situation. What assets and liabilities do you have and the types of insurance.  Gather as much information as you can on every item. Next, you need to put  together a budget, beginning with monthly expenses and breaking it down into  discretionary and non-discretionary expenses and tracking monthly. Take a look  at your insurance policies (home, auto, rental, and life). Maybe there are  adjustments to your coverages that could be made.  

With Fall coming and cooler weather-take time to reassess your finances. Making  time to make a few small changes now may improve your financial situation and  that is good for the wallet. Don’t let this October spook you away from starting  your financial plan.

If you are interested in learning more about your options, please email Vickie at This email address is being protected from spambots. You need JavaScript enabled to view it. or call at 717-790-2171.