August is upon us! Can you believe we are already 8 months into 2018? I say that with astonishment at the start of every month, but this time around it’s truly unbelievable. It’s been a speedy summer. The other day I was perusing around the store and saw Halloween decorations. I’m okay with summer sticking around for a little while longer. How about you?

 

It’s day one of the new month; have you already prepared and planned your August budget? If you haven’t, here’s a quick list of some line items to add to your “itinerary”.

 

August Budget Line Items:

 

*End of Summer Vacation

Summer isn’t over, no matter what seasonal merchandise the stores are trying to sell. If you have plans for a late August or early September trip, make sure to add the estimated expenses to your budget.

-Camping gear

-Restaurants

-Admission Tickets

-Hotel/Campsite fees

-Parking/ Traveling (street parking/parking garage) (Toll roads/Pitstops)

-Gas: see below

*Gas

For a lot of people, summer means being on the go, and all that traveling can mean an increased gas category. Family vacation road trips, day drives to the beach, visiting relatives, traveling to camps or summer activities, end of summer/beginning of the school year functions, etc. all mean that the gas line item might need to be beefed up.

Look ahead at what activities are planned for the month and adjust based on how often you expect to be on the roads.

 

*Special Sales

We may have just missed out on “Christmas in July” special deals, but with August comes another wave of sales. “Back to School” specials are hot and they are targeted at students of all ages. College kids might find electronic deals and little ones might luck out with deals on classroom essentials. If there is something you know you’ll need, whether a student of not, first budget its original price but be on the look out for discounts.

*School Everything

Students nowadays might not, but when I was in school, I was always back in the classroom before September. It was only in college that I started back to campus after Labor Day. Whether you or your child start back to school in August or September, it’s never too early to start financially planning for the new school year.

-Everyone needs basic school items like: calculators, backpacks, notebooks, folders, pens, pencils, rulers…you know how it is. Sometimes even college students need Crayons like the middle schoolers.

-New Shoes: Think Gym or fall sports or “just because”.

-New Clothes: A fun new outfit is totally optional, but some students are required to wear uniforms, so remember to add that cost.

-Upfront Payments: Do you need a uniform for Volleyball or Cross Country? Is there a fee for music lessons or band? Can you pre-pay your meal plan?

 

*Christmas

You might be thinking, “Christmas?! You just said that thinking ahead to fall is too early!” I know, but hear me out. We are only 4 months away from the biggest gift-giving season. Christmas isn’t a surprise to anyone, and while it is so much fun to give to others and celebrate, it can be expensive! So why not set aside a little each month in preparation for extra spending during the holiday season? A little each month will help when you’re scouring what’s left on Black Friday and reaching into your wallet during a spontaneous moment of generosity.

 

August is a busy month! There is a lot going on during these last few weeks of summer, but soaking up these days doesn’t have to put you behind financially. Look ahead, plan accordingly, and enjoy this next month with the people you love.

 

What August activities do you have planned? Let me know in the comments!

 

Cheers!