(WTNH) — Did you break the budget this summer? Financial advisor Galen Bargerstock is helping you get your bank account back on track.
Have a plan for paying it off. If you did most of your summer spending with credit cards, you need to set goals for paying them off in a timely manner to avoid interest and growing debt.
Take a spending break. Other than the essential living expenses, try to take at least a couple weeks off of spending while you are trying to get back on track so you don’t make matters worse.
Set yourself up for the rest of the year. Revisit your budget and make any adjustments needed to get caught up and stay caught up. Remember, the holidays are just a few months away!
Plan early for next summer. Start a summer spending fund now and set feasible amounts aside throughout the year so that you’ll be financially prepared for next summer.
For more information, watch the interview above.