Continue on your journey of making monthly changes for the third fiscal quarter (Q3) to help manage your annual finances with a little effort once a month. Having a steady financial situation will prepare you and lessen your stress when it’s time for Q4. 

July

This month should follow the standard pattern for the first month of Q2, Q3, and Q4 by reevaluating goals as well as increasing your savings rate. Start by reevaluating your goals following the conclusion of the prior quarter to see which goals you’ve accomplished and which ones you’re still working on. Evaluating goals at the beginning of each quarter also helps you restore focus while holding yourself accountable to keep your goals in mind starting fresh with a new quarter.

Following the standard plan for the first month of Q2, Q3, and Q4; this is the time to increase your savings rate by 1% or your desired amount that will add up over time. This is also the time to consider where you would like to increase financial assets like savings, investing, or building an emergency fund.  

August

There might be benefits you’re not utilizing that can help you save money with employee benefits that everyone should take full of. You should look into whether your company offers investing and saving opportunities. Some companies offer a savings program that can be matched by employers that can be contributed in addition to your 401(k). Another vital resource offered by employers is an FSA that can help you pay for medical-related costs including first-aid items and medicine.

This is also a good time to consider shopping around for a better insurance policy that can help save you money. You can research different options to compare prices to ensure you’re getting the best deal on auto, home, or renter’s insurance. Getting quotes only takes a couple of minutes but to find quotes all in one place you can try using a service like Gabi that helps you find the best prices for all these insurance categories. 

September

Having a stable financial strategy requires planning for the future for every scenario possible including your passing. This is the worst-case scenario that can add emotional distress to your loved ones which is why it’s important to evaluate your estate plan and will. Having a financial plan in the event of your passing will ensure your assets are properly taken care of and this process should be done annually to account for new assets or big life changes.

In the past, revising your will and estate required hiring an expensive lawyer. Now there are alternative programs like Trust & Will that help create or edit estate-planning documents for a low cost. This is also a good opportunity to consider life insurance with affordable policies to maintain.
 

Looking to finish the year worry-free about your annual finances? Check out tips to try from October to December with our article titled, “Optimize Your Annual Finances In Q4 With Monthly Money Tasks.”