What harvest festival can teach us about finances

Harvest Festival will soon be upon us.  Those harvest baskets full of fruits and vegetables and celebratory songs have been a way of giving thanks since pagan times.  But Harvest Festival is more than just a celebration – it has also been used as a way to save food and supplies in times of abundance, preparing for the leaner times of winter.  

The idea of balancing celebration of the good times while preparing for leaner months is something we like to remind clients of as part of our financial life planning.

Here are some simple tips to help you get the balance right.  

• Goals, goals, goals.  Being clear about goals is the best starting point. It’s also important that when you do, you also think about short-term and medium terms goals as well as the longer term ones.  This will help you keep on track and make your long term aims more achievable.
• Know your budget.  This is a starting point for every other goal in your life.  If you are consistently over that budget, consider trying an all cash diet – taking out a set amount of spending money each week, and when it’s gone it’s gone. It helps you keep track of what you’re spending and you’ll think harder about spending hard cash than opting for a contactless card payment.  
• Think about your priorities and allocate a decent percentage towards those priorities – whether its emergency savings, paying off your debt or going towards the holiday of a lifetime.  Write it down and keep regular payments going towards those goals.
• Finally, have a positive mindset about money.  If you tell yourself you can save and look after your money, chances are you’ll find yourself more in control of finances at every stage of your life.   
• As always, do get in touch with your Serenity Financial Life Planner if you’d like to talk over your goals and financial plans.