Money Matters

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The 2×2 System: A Yearly Financial Wellness Calendar. August.


This installment of our monthly financial wellness calendar focuses on planning for two great end of year traditions: the holidays and charitable giving.   

August Session 1: Plan For Holiday Expenses
This might not be the time of year you typically think of end of year merriment, but getting ahead of the game with some holiday planning can take a lot of angst out of the season of joy and giving. Try to set your spending limits now and top up savings for gifts, activities, and travel. Calculate how much you’ll need for each category and divide by how many months you have left. Then have that amount deposited automatically into the respective accounts.

Want to make next year’s holiday budgeting even easier? Open a Holiday Club savings account. Small automatic deductions soon add up with healthy interest so when the holidays arrive, your budget is all there! Effortlessly.

Tip: Once November and December roll around, stores are full of holiday delights. Having a spending and gift giving plan in place before you’re exposed to this sensory overload can help you make decisions grounded in what’s best for you and your family rather than the in-store temptations.

August Session 2: Make A Charitable Giving Plan
Speaking of the holidays, you know there will be a lot of appeals for philanthropic giving as the year draws to a close. Giving to those in need is a truly beautiful thing. But contributing beyond your ability can add to the stress of what is already a challenging time of the year. Consider making a plan for your giving this year. You can start by listing the causes you give to every year and determining if you would like to give more or less than usual. You may want to focus your giving on a few causes that mean the most to you.

Tip: Don’t forget to make sure, amidst the seasonal hustle and bustle, that you have a pot of cash ready for emergencies. Don’t let the expense of a burst pipe or leaky roof rain on your holiday parade. Our Rainy Day Savings account is an excellent way to build a cash reserve for all those “what ifs” in life.

Time flies! Here’s a preview of the upcoming September 2×2 System installment:

  • Session 1: Calculate My Net Worth
  • Session 2: Understand My Insurance Needs
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