Ways to Improve Your Finances This Month


We’re in the peak of summer and it’s easy to get lost in vacations, outdoor activities, and soaking up the sun. We can’t forget to keep an eye on our finances, though, as it’s easy to get burnt by poor money management habits. As you’re sitting by the pool or your favorite beach, take a moment to check in on your finances before the reality of Fall sets in.
 

Repurpose some of your vacation money.

If you didn’t get to take a family vacation this summer, consider putting some of that extra dough into your retirement savings or adding it to your emergency fund.

 

Check-in on your finances.

If your kids are getting their back-to-school check-ups, your finances should too!

August 14th is National Financial Awareness Day, so it’s only right that we advise you to check in on your finances. Now might be a good time to review your latest credit report or even your family’s budget. Getting into a habit of regularly reviewing these items ensures that you’re always on track with your money goals and helps to avoid any unnecessary surprises along the way.

 

Document Summer Tax Expenses

Rather than scrambling next April to track down receipts for tax-deductible summer expenses, take some time to set them aside now for easy access later.

For example, if you've been sending your child to day camp while you or your spouse (if filing jointly) are working or attending school, you may be able to write off a portion of the cost. Depending on your income, the credit is worth 25 to 35 percent of the cost of camp, up to $3,000 for one child and $6,000 for multiple children.

 

Prepare for back-to-school.

The end of summer means plenty of back-to-school sales and savings. Starting early could mean even bigger savings. Make sure to check for sales online or on their app to score big.

Summer may be the time to relax, but it’s also a great time to plan ahead for the upcoming months. Be proactive with your finances!

To learn more information about how Pioneer can be a financial partner in helping you achieve your goals, call or visit one of our branch locations.
The material provided on this website is intended for informational purposes only. Links to other web sites are provided for reference and do not constitute a referral or endorsement by Pioneer or its affiliates. Please note that such material is not updated regularly and that some of the information may not be current. It is recommended that you consult with a financial professional for assistance regarding the information contained herein.