Hey — it’s Lee from Zypper.
Fall comes with more than just changing leaves. It brings a wave of seasonal expenses that can derail your budget.
From back-to-school costs that extend even to childless adults, to fall decor that gets thrown away after one season.
Here’s what you should watch out for this fall and a few practical strategies to avoid them. ⤵️
In today’s issue:
Fall spending traps to avoid
New affordable phone plans (WWYD)
Earn 20% back at restaurants
🔍 Deep Dive: Fall Spending Traps to Avoid
Ever felt that financial hangover at the end of the year? You look back at what you’ve spent and regret going overboard.
Understanding seasonal spending patterns and preparing for them is the best way to avoid this.
1️⃣ Back-to-School (Not Just for Students)
The National Retail Federation (NFR) reported that families spend an average of $890.07 per child on school-related items. College students and families spent even more, averaging $1,366.95 per student.
Even if you’re not headed for the classroom, you may feel an itch to participate in purchasing:
A new professional wardrobe
Upgraded tech products with new releases
Home office supplies and organization systems
Adult education and professional development courses
2️⃣ Halloween and Fall Decorations
The average person spends $108.24 on Halloween, according to the NFR.
While this isn’t overboard, ask yourself: Do I value Halloween decor and costumes at this price? Or would I rather have $108 in cash?
If your answer is the latter, that’s a sign the purchase isn’t worthwhile. Instead, consider things like:
DIYing or borrowing a costume
Choosing 1-2 areas to decorate, instead of the whole home
Purchase decor and costumes secondhand
Swap decor and costumes with a neighbor or friend
3️⃣ Seasonal Wardrobe Revamps
According to LendingTree, Americans spend an average of $1,945 per year on apparel, with an increase during the fall. Yet 82% of Americans’ wardrobes haven’t been worn in the last 12 months.
Via Fashion United
Every year, there’s a new trending coat, boot, or sweater. And guess what? Next season it’ll be “out of style.”
Buy a coat if you need one. Leave trendy items on the rack. And know what’s a need versus a want before purchasing.
4️⃣ Holiday Preparation
Holiday shopping begins in October, with early November sales events generating billions in spending before traditional holiday shopping even begins.
Commercials and advertisements will make you feel like the “holiday season is coming up quickly.” This can lead to panic shopping, purchasing far more than you actually need.
Instead, create a gift list now. Make note of any holiday events you’re attending, like holiday parties and gift exchanges. Create a budget to make intentional purchases.
5️⃣ Home Maintenance and “Weatherization”
It’s easy to spend thousands each fall on things like:
HVAC repairs during first cold snaps
Rushed “weatherization” projects to prep for inclement weather
Overpriced seasonal maintenance (like raking leaves)
Home improvement projects
Sure, some of these may be necessary. But others aren’t.
Can you clean the leaves out of the gutter yourself? Or install a gutter guard? Can you hire a local teenager to rake leaves instead of the expensive landscaping company?
Put It Into Practice
There are 3 precautions to take this fall:
Resist artificial urgency: You have plenty of time to purchase things. Make a “to buy” list and only purchase once it’s been on the list for 48+ hours.
Pay attention to cost per use: You’ll wear a costume for one night, and fall decor is up for 6 weeks before holiday decor comes in. If you won’t use it time and time again, don’t buy it.
Use what you have first: Look at your closet first. Dig out the bins of decorations from past seasons. Exchange with a neighbor or friend.
💵 Budget Breakdown: Cheaper Phone Plans
OnePay, a financial tech firm owned by Walmart, launched its own wireless plan powered by Gigs, a wireless carrier partner.
Here’s the offer:
$35 per month
Unlimited 5G data
Talk and text on the AT&T network
This plan is new, so we don’t have much information about whether it’s good. But similar phone plans, like Visible by Verizon and Mint Mobile, get mixed reviews.
Some say they’re cost-effective and offer the same service, while others say they’ve experienced poor reception and slow data.
What would you do?
🔗 Quick Links
📈 How to jumpstart your retirement savings.
❌ Try this No Spend September challenge.
💰 Earn 20% back at restaurants.
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