Like the changing leaves of fall, your finances also go through seasonal changes. You may find that your spending will begin to increase with winter holidays around the corner. To prepare for that change, fall is the perfect season to review your finances and to set a budget. Below are actions you can take to help you prepare for holiday spending.
- Get a Free Credit Report. The Fair Credit Reporting Act (FCRA) requires each of the nationwide consumer reporting companies to provide a free copy of your credit report, at your request, once every 12 months. Knowing and understanding your credit score is a valuable asset for any future large purchases or employment opportunities.
- Pay Off Debts. If your debt is becoming a burden, contact a credit counseling agency to get help. Certified financial counselors can offer advice that can lower your payments by consolidating your debt, enabling you to become debt-free faster.
- Manage Your Finances. Create a budget so you know how much you’re able to spend each month. Sometimes it may be better to pay for items in cash to avoid credit card troubles.
- Identify Your Goals. You will be more encouraged to save money if you have a goal in mind. A home project or upcoming higher education expenses can serve as an incentive to putting away savings.
- Start Saving for the Holidays Now. If you find that you spend more during the holiday season, you may want to consider starting to save now. Getting head of these expenses will allow you to be better prepared for higher credit card balances.
Your Employee Assistance Program is Here to Support
If you are looking for additional financial information, your Component Employee Assistance Program (EAP) can help. EAP is available 24 hours a day, 7 days a week to help you manage your financial concerns.
For more information or for help in contacting your EAP, you can reach your DHS Work-Life specialists at email@example.com.