Will ‘Future You’ thank ‘Present you’?: Your September-to-December money guide. 

                       

If the end of the year always feels more expensive than you expected, you’re not alone. Canadians planned to spend an average of $1,675 on gifts, travel, and entertainment last holiday season. Between seasonal celebrations, everyday expenses, and everything in between, it’s easy to lose track of where your money is going. 

The good news? You don’t need a complete financial reset before the end of the year. A few intentional money moves over the next four months can help you feel more in control, reduce financial stress, and head into January with confidence. 

Here’s how to plan your finances from September to December. 

September: Plan for what’s coming up.

“I call September the financial kickoff to the holiday season,” says Tina Cheung, Wealth Advisor at Vancity and Aviso Wealth. “People think December is the expensive month, but the spending starts much earlier.” 

The tricky part about fall spending is that so much of it feels like a surprise when almost none of it is. Thanksgiving lands on the same weekend every year. Your niece’s birthday hasn’t moved. The work party, the flights home, the Halloween candy: it’s all known well in advance, it just isn’t written down anywhere your budget can see it.  

That’s why Tina’s advice is: “Open your calendar before you open your wallet.” She says, “Look ahead over the next four months and write down every event you already know is coming such as birthdays, travel, school activities, holiday dinners, and gifts.  Once you know what’s ahead, you can decide where your money should go instead of wondering where it went.” 

Your September “to-dos’:

  • Map your next four months. Go through your calendar from now to December 31 and list every event that costs money. Vancity’s free budget planner is built for exactly this: enter your income, bills, and upcoming expenses, and it shows you what’s left to spend. 
  • Start a holiday fund. Tina’s number one September action. “Even if it’s only $25 or $50 a week,” she says. Open a savings account you won’t dip into for everyday spending, like Vancity’s Jumpstart™ High Interest Savings Account, which has no monthly fee, then set up an automatic weekly transfer in the Vancity app. At $50 a week starting in early September, you’ll have around $800 by mid-December.

October: Get ahead of sale season.

Black Friday arrives in November, but the flyers, countdown emails, and “one day only” deals start well before that. October is your window to decide what you actually need before the discounts start deciding for you. “The biggest mistake isn’t spending, it’s spending without a plan,” Tina says. “People often say, ‘I’ll figure it out later.’ Unfortunately, ‘later’ usually becomes a January credit card statement. 

Instead, Tina suggests a simple test for any purchase you’re weighing: will Future You thank Present You? “Buying winter tires before the first snowfall? Future You says thank you. Booking holiday travel early? Future You says thank you,” she says.  

“When you’re unsure, let Future You help make today’s decision.” 

Your October “to-dos”:

  • Write your gift list now.  Write down everyone you’re shopping for, what you plan to buy, and how much you want to spend. A list made in calm October holds up better than one improvised in a busy mall in December. 
  • Book the big-ticket items early. Flights, ferry reservations, winter tires, and other seasonal essentials often cost less when you buy early or out-of-season. 
  • Pause before every sale purchase. When a sale tempts you in November, ask yourself Tina’s question: will Future You thank Present You? “A discount doesn’t save you money if you weren’t planning to buy it in the first place,” Tina says. 

If you’re looking for more ways to stay on budget during the holidays, our guide to saving money during the holidays shares additional ideas for planning gifts, setting spending limits, and keeping seasonal costs in check.

November: Set your limits before the invitations arrive.

Between holiday dinners, work parties, gift exchanges and travel, November and December ask a lot of your budget, and saying yes to everything gets expensive fast. Tina’s advice: your budget doesn’t have to keep up with anyone else’s lifestyle. 

“It’s okay to suggest a potluck instead of an expensive dinner, set a gift budget, or simply say, ‘It’s not in my budget this year,'” she says. “Protecting your financial future is never something to feel guilty about.” She adds, “Most people won’t remember how much you spent. They’ll remember how you made them feel.” 

Your November “to-dos”:

  • Set one holiday budget, not separate ones. Include gifts, travel, entertaining, decorations, and seasonal outings in a single total. Seeing everything in one place makes it easier to decide where you want your money to have the biggest imp 
  • Be the first to suggest the plan. Whether it’s a potluck, Secret Santa with a spending limit, or a walk instead of dinner out, the person who proposes the gathering often sets the expectations, including the cost. 
  • Check in before December arrives. Open the cash flow calculator or your budget planner and see how the season is tracking against your plan.

Adjusting in November is easier than adjusting your credit card statement in January.

December: Spend from the plan, then look ahead.

By December, most of the work is done. Your gifts are listed, your fund is topped up, and your limits are set. Now it’s time to work the plan, which feels very different from figuring it out on the fly. 

December is also a natural time to look past the holidays. A few year-end moves to consider: 

  • Want a little market growth potential without putting your original investment at risk? Vancity’s Index-Linked Term Deposit protects your principal at maturity while linking your potential return to a basket of companies. However, your return is capped and may be minimal. It can be a good middle ground for money you won’t need for three or five years, but it isn’t a replacement for long-term market investing. 
  • Keep the habit going. The automatic transfer you set up in September can simply continue in January, pointed at whatever comes next: an emergency fund, a trip, or a bigger savings goal. 

“Money doesn’t become stressful because life happens,” Tina says. “It becomes stressful when life happens and we didn’t plan for it.” 

You don’t have to plan alone.

If you’d like help deciding where your money should go, book a time with a Vancity advisor, in person or virtually. They’ll start where you are, whether that’s opening your first savings account or fine-tuning your year-end plan, and help you build something that fits your life. 

Because financial confidence is built like a holiday fund: through small, consistent decisions over time. 

Jumpstart™ High Interest Savings Account is a trademark of Vancouver City Savings Credit Union. 

Mutual funds and other securities are offered through Aviso Wealth, a division of Aviso Financial Inc. Unless otherwise stated, mutual funds, other securities and cash balances are not covered by the Canada Deposit Insurance Corporation or by any other government deposit insurer that insures deposits in credit unions. The information contained in this article is from sources believed to be reliable; however, we cannot guarantee that it is accurate or complete. This material is not intended to be investment, tax or other advice and should not be relied on without seeking the guidance of a professional to ensure your circumstances are properly considered. Please see our Terms of Use. 

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