Money moves to make ahead of the holidays

Spending starts to add up. There are some smart money moves that you can make. So Kate Ashford, lead wealth writer at NerdWallet is here. Kate, good morning. Thank you for coming back. What are some money moves that people should begin prioritizing now? Well, certainly we can see the holidays. They're coming right down the pipeline. And it's now a really good time to think about the things that you're going to be spending money on. What are you spending on travel? How are you spending money on gifts? Who are you buying for this year? We can see those expenses coming. And the best thing you can do is make a plan, because if you don't make a plan, it's really easy to wait to the last minute to impulse shop and spend a lot more than you had intended. Yeah, I think the problem for a lot of people is that you set that holiday budget, but then when the sales and discounts start, you then end up buying more and paying more in the end. Do you see it that way too? Oh, absolutely. NerdWallet has a holiday spending survey in which people talk about the reasons that they overspent in the past. And one of those reasons is they waited until the end. They bought for people they didn't intend to buy for. They spent too much on last-minute presents. They bought things they weren't intending to purchase. It really is easy to get sucked into the sales. So going into those sales with a plan and an idea of what you're looking for is a good way to keep yourself from spending more than you thought. At the end of the year, we should also be looking at retirement contributions, you know, long-term saving and wealth. What should people check specifically as it relates to that? Well, you have a few more paychecks coming up between now and the end of the year. If you haven't put away enough to meet. An employer match for your 401k, you can still up contributions for your last few paychecks. If you have an FSA at work, flexible spending account, you should make sure that you've spent down that balance by the end of the year because those accounts are more or less use it or lose it by the end of the year. And if there are things you're trying to contribute to, charitable donations, you're trying to put money into a 529 for a state tax deduction, that deadline is December 31st. So that time is coming. Great reminder, if someone's budget is already stretched, they say, Kate, I'm already there. What's one manageable savings tip that they can implement now that will make a difference? Honestly, making the plan is the biggest step you can take to make sure that you stick to a budget that works for you. Because if you are just willy-nilly spending and you're not paying attention and tracking along the way, it is so easy to go overboard. Setting a gift limit per person, sticking to that gift limit, including shipping, including hostess gifts. We'll help you make sure you don't just spend much more than you had planned this holiday season. Finally here, I always say you don't need a new year to do a new thing. So for people who are looking ahead to find themselves in maybe a better position this time next year compared to right now, what can they do now to get ahead of that goal? Well, if you find yourself looking at your budget right now and you don't have money for the holiday shopping that you'd hoped you had, or maybe your emergency fund is a little scant, you can start setting aside money over time automatically. Set up an automatic deduction from your checking account to a high-yield savings account on paydays. It doesn't have to be very much. It can be $20 at a time. And over time, that money will pile up without you having to make that savings decision. And next year, you'll have money in your emergency fund. And your emergency fund and for holiday spending, and it will take a lot of the stress off. Kate, thank you so much for joining us on behalf of NerdWallet. You always give great tips. Actually, consider those early gifts ahead of our holidays, and we appreciate you. All right, Jacqueline, your turn.