This summer, women didn’t think twice before wielding their power. We didn’t let the name-calling, the shaming, the patronizing stop us — instead, we ignored the haters (and there were many of them) and used our financial power to build the world we want to live in.
So we head into fall feeling freer than ever. But how do we keep post-summer money clarity and holiday season spending from disrupting our momentum? By making smart money moves, absolutely.
Money Moves for Fall 2024
Revisit your core values.
Have you peeped your fall calendar lately? A lot’s coming up. There's Halloween parties and Thanksgiving feasts, charitable giving and Black Friday deals, quarterly and end-of-year tax planning, winter holiday gift lists, and travel plans. (It’s a lot.) To prevent overspending, overcommitting, and overwhelm (lol), reassess your core values. When you’re clear on the motivations that drive your decisions — financial and otherwise —you, not the pressures of the season, will control your money moves. With your values as your guide, your choices should feel easier and more satisfying, too.
To get started, ask yourself, “What are my highest priorities?” You could use the Ellevest Core Values Worksheet (free for Ellevest clients) for help exploring what matters most to you, or you could freestyle it by making a list of your top three or five. There’s no wrong answer. Think: achievement, adventure, balance, connection, family, feminism, growth, integrity, responsibility, service … whatever motivates you.
Now that you’ve identified your top values, align them with your money goals for the season. What you’re left with is your own guide to practicing intentional spending and, on the flip side, a framework for making financial trade-offs that are meaningful to you. If decisions start to feel tough, you can remind yourself: It’s not a sacrifice; it’s honoring your values.
Reevaluate your debt payments and savings contributions.
Post-summer money clarity — aka, that moment you tally up your summer splurges and confront your credit card bills — can feel debilitating. But it doesn’t have to be. Knowing exactly what your money situation looks like is the first step toward recapturing that feeling of freedom. So pull out those bills and statements and take a good, hard look at the damage. It may not be as bad as you thought!
The second thing you’ll want to do is reevaluate your debt payments — maybe you need to increase those payments to get back in the green. When it comes to your student loans, you want to make sure your account is all caught up. The student loan “on-ramp” period ends September 30. That means student loan servicers will start reporting missed or incomplete payments to borrowers’ credit agencies, which could damage your credit score.
Don’t have student loan payments due? There are still money moves to make. Consider upping your payments to your emergency fund or F*ck-You Fund.
Save for holiday expenses in a sinking fund.
One of our favorite money moves — in general and for holiday budgeting — is to save for non-monthly expenses in a sinking fund. It’s a pool of money that’s gradually saved for known future expenses, so you don’t have to come up with a big chunk of change all at once when you, say, book a ticket home for the holidays or double your Giving Tuesday donations.
The process is simple: Make a list of your future expenses, then figure out how much to set aside for them each month (or each week, since the holidays are creeping up). Besides travel and gifting, consider budgeting for the less obvious expenses that’ll get you through the notoriously stressful season.
Say flights freak you out. Do you need to budget for a seat upgrade to feel more at ease? The weather might be awful. Do you need to budget for that glitter jumpsuit and cozy gear? Family time can be tough. Do you need to budget for mental health support — a new journal, an extra therapy session, a yoga class pass? Staying away from home sucks. Do you need to budget for creature comforts — a travel blender for your morning smoothie or slippers for bedtime? These expenses are valid if they truly support your well-being. Plus, the more you plan ahead, the more in control you’ll feel.
Splurge moment: fall flavors.
It doesn’t matter if your vice is caramel, cranberry, apple, or, yeah, pumpkin. Fall flavors are back in everything, everywhere, all at once — another example of women using their spending power to boost business (in this case, igniting a nearly billion-dollar “pumpkin spice” industry). That’s what 20 years of buying the f’ing PS latte gets you, economy. Fall splurge moment advice: Continue for yourself and the greater good.
Want guidance for making the money moves that fit your goals? Book a complimentary 15-minute call with an Ellevest financial planner and start making progress right away.