Financial Tips for September: Prepare for Year-End Expenses

BFGWM Team
Sep 5
3 min read

Updated: 1 day ago

September is more than just the back-to-school season — it’s also the perfect time to take control of your finances before the busy and expensive final months of the year. Between holiday shopping, open enrollment for benefits, and large purchases that often come up at year-end, expenses can pile up quickly.

By preparing now, you’ll reduce financial stress, avoid unnecessary debt, and head into the new year with confidence. Here are three important steps to help you get ahead:

1. Start Saving Now for Holiday Spending

The holidays are a joyful season, but they can also put a serious strain on your budget. According to the National Retail Federation, the average American spends over $1,000 on gifts, food, and holiday activities each year. Without planning, much of that ends up on credit cards — which means higher interest payments in January.

How to prepare:

Estimate your holiday budget. List expected expenses for gifts, travel, decorations, and events.
Open a holiday savings account. Keeping this money separate reduces the temptation to spend it early.
Automate contributions. Divide your budget by the number of weeks left before December and set up automatic transfers.

💡 Example: If you want to spend $1,200 on the holidays and you have 12 weeks until December, setting aside $100 per week will fully fund your holiday budget in time.

2. Review Your Health Insurance & Benefits for Open Enrollment

Open enrollment is your once-a-year opportunity to make adjustments to health coverage, retirement plans, and other workplace benefits. Many people stick with the same plan year after year, but reviewing your options could save you hundreds or even thousands of dollars.

What to review:

Health Insurance Plans: Compare premiums, deductibles, and out-of-pocket maximums. If you expect higher medical expenses next year, a higher-premium, lower-deductible plan may be cost-effective.
HSA/FSA Contributions: These accounts allow you to set aside pre-tax dollars for medical expenses, which lowers your taxable income.
Supplemental Benefits: Review life insurance, disability coverage, and retirement plan contributions. Open enrollment is a chance to adjust based on your current financial needs.

💡 Example: If your employer offers an HSA and you contribute the 2025 maximum of $4,300 (individual coverage), you could lower your taxable income by that same amount — while also saving for future healthcare costs.

3. Plan Large Purchases to Avoid Last-Minute Overspending

Year-end often brings big-ticket expenses like home renovations, appliances, or even cars. Planning ahead helps you spread out costs, take advantage of seasonal deals, and avoid making rushed financial decisions.

How to prepare:

Research prices early. Identify the best time of year to buy — for example, electronics and appliances often go on sale during Black Friday.
Set a spending cap. Decide in advance what you’re willing to spend so you don’t get carried away.
Explore tax credits. Energy-efficient home improvements, solar panels, or electric vehicles may qualify for credits that can reduce your tax bill.

💡 Example: If you’re planning to replace your HVAC system, doing so before year-end could make you eligible for federal energy-efficiency tax credits, lowering your overall cost.

September is your financial checkpoint before the rush of the holiday season. By starting to save for holiday expenses now, reviewing your health and workplace benefits during open enrollment, and planning for larger purchases in advance, you’ll reduce financial stress and make smarter money decisions.

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Note: This information is for educational purposes and should not be considered financial advice. Consult with a financial advisor for personalized guidance.

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