GREENSBORO, N.C. — From festivals to homecomings, the fall season is causing many Americans to "fall" into a state of financial discomfort.
Financial literacy author and founder of Debt Sucks University Ja'Net Adams has seen how fall spending really can snowball out of control.
"Summer is a busy time, where you spend a lot of money, but fall is not far behind. Although the air is starting to get cooler, that does not mean your wallet is going to get a break," Adams emphasized.
FUN
Adams stressed the importance of planning and prioritizing.
"You have state fairs, fall dances, Halloween, football games, but the most expensive fun has to be college homecomings. The cost of a homecoming can be massive, from plane tickets, hotel rooms, rental cars, game tickets, food for tailgates, and the list goes on," she said.
To save on a homecoming festivity, Adams suggested avoiding buying a new outfit. Also, consider making the homecoming experience a day trip.
"Drive down that morning, go to the game, then drive back after the game. That will save you money on a hotel room and a plane ticket," she said.
FAMILY
Adams said she also advises her clients to plan ahead for upcoming family events, like winter graduations.
"Now is the time to count the people you know that are graduating and decide how much you plan to spend on a graduation gift. Graduates love money, so you could save money by budgeting $20 a graduate," she suggested.
She said graduates will be grateful for any thoughtful gift.
FUTURE
Lastly, Adams pushed the importance of preparing homes for pending winter weather.
"You can start to winterize your home, so that all open spaces are covered before winter arrives. If you rent your home, you should ask your landlord to do the same, especially if you pay the utility bills in addition to your rent. Utility bills in the winter tend to be the most expensive, so preparing now can save you money in the future," she said.