4 Money Moves to Make in October



Football season is in full swing. Pumpkin Spice Lattes are being served. And Michaels has an abundance of fake, colored leaves available for purchase.


Fall has arrived.


October starts the last quarter of 2021. This is a great time to evaluate your finances and make some needed money moves. Here are four money moves to consider in October:


1. Automate your generosity.


Generosity is the foundation upon which real, biblical financial heath is founded. With everything that happens between now and January 1st, time moves quickly, and it can be easy to forget to give. You can also find yourself tempted to use money that typically go towards your church or other non-profits for Christmas presents and holiday travel. To combat forgetfulness or the temptation to use money for other purposes, automate your generosity. More than likely, your church or non-profit has a page on their site where you can set up recurring gifts. Take full advantage of this tool. Make sure that you put God first in your finances.


2. Consider refinancing your mortgage (if it makes financial sense).


Interest rates are still very low. Therefore, calculate whether or not refinancing your mortgage is financially wise. See if you can reduce your rate and term. Set yourself up to pay off that mortgage quickly. Remember, you purchase a home so that, one day, you won’t have a housing payment. Buying a home is a long-term strategy to free up future cash flow.


Buying a home is a long-term strategy to free up future cash flow.

3. Make your investment portfolio adjustments.


Over the last quarter, it is very likely that the allocation of your investments shifted, with some investments growing more than others. This is a good time to adjust your asset allocation so that it falls in line with your investment strategy.


4. Complete your Christmas budget and start shopping.


Yes, we are just a few months away from Christmas. Avoid holiday debt by crafting your holiday budget now. Consider the costs of gifts, travel, and entertainment. Additionally, start shopping. Recent supply chain challenges may create inventory issues when most people begin their Christmas present shopping.


You are in the last quarter of 2021. Make some smart money moves so that you can end the year well.