Sign In
Get Started
Finance for Parents

Your Fall Money Check-In: 5 To-Dos

By Allison KadeSep 1, 2019

‘Tis the season of #2 pencils and three-ring binders, kid-sized mittens and pumpkin spice lattes. 

As you get back in the swing of the daily grind, we’ve got some money to-dos to keep your financial life chugging along smoothly. 

1. Go Back to School (You Too)

Learning isn’t just for grade schoolers. Let yourself be inspired by the back-to-school season, too. Find a night while the kids are doing homework, and join in with a little homework, yourself. 

Pick a few financial concepts that you wish you knew more about, and read up. Maybe it’s time to investigate retirement investing a little more thoroughly. Or maybe it’s time to finally understand how life insurance works. (When you’re ready, Fabric lets you apply for term life insurance online in around 10 minutes.)

2. Budget Now for the Holidays

OK, it’s early yet. But studies have shown that more than half of Americans actually dread the holiday season because of the spending. Americans have been known to take on more than $1,000 in holiday debt, and some people take more than a year to pay off their holiday debts.

So get ahead of it all by coming up with a budget now. List the people you want to buy gifts for, and give yourself a max amount that you’re willing to spend on each. Total it up, compare it to your savings, and if you don’t already have enough cash to cover the expense, then figure out how much you need. Divide that by the number of weeks you have till gift time, and make it your weekly savings goal.

If you're already struggling with debt, consider consolidating your credit cards now and getting organized before the holiday craziness hits.

What can Fabric do for your family?

Answer a few questions. We’ll create a checklist of financial tools just for you.

Get our app now

3. Make a Feel-Good Game Plan

Not only does giving time and money to charity teach your kids about generosity and the value of a dollar—it also comes with all those warm-and-fuzzies. 

The holidays are a good excuse to do something generous, though ideally your actions now can form a habit that you’ll keep up throughout the year. Whether you’re helping your kids decide where to donate their allowance money or volunteering at a soup kitchen together, take the chance to remember that money isn’t just about saving. It’s also about doing good.

4. Make Sure There’s No Fraud on Your Account

Close to half of identity theft (43 percent) occurs around the holiday season, which is a peak time for fraud. In addition to being vigilant and not clicking on suspicious-looking emails, it’s a good reminder that we should be checking our credit regularly.

You can use a company like Credit Karma to look up your credit score, which is a numerical reflection of how your credit is doing. And you can go to Annualcreditreport.com for your free once-a-year credit report, if you haven’t already gotten it. Law dictates that you should be able to get your credit report from each of the three major agencies once a year for free, so beware of lookalike sites that seem to offer these free services but secretly end up charging you.

If your credit score suddenly plummets without explanation, or if you see suspicious activity on your accounts, investigate it further and remember that you can report fraud to the credit bureaus so it shouldn’t permanently hurt your credit rating.

5. Think About the Future

While you’re spending time with friends and family, take a beat to think about your future. (The new year will be here before you know it…) Consider your big-picture goals, like college savings for your kids. Are you on track? Play around with a college savings calculator to see how you stack up.

As the temperature drops and the mood gets jolly, here’s to doing a few quick tasks to help your family now, and in the future.


Fabric exists to help young families master their money. Our articles abide by strict editorial standards.


Subscribe to our newsletter


Written by

Allison Kade

Related Posts

Finance for Parents

5 Quick Ways to Stay on Top of Your Money This Summer

Summer’s about taking it easy - but also using your breathing room to feel on top of your game. Here are 5 to-dos to keep you on your game.

By Allison Kade
Finance for Parents

A Pet Trust? Your Will? How to Care for Your Pet After You’re Gone

We may view our pets like family, but legally we can’t leave money directly to them. Here’s how to take care of Fido after you’re gone.

By Wendy Berkowitz
Finance for Parents

What You Should Know About Bequeathing to Charity in Your Will

Whether you call it a bequest, an endowment, a legacy, or simply a gift, leaving something behind to charity can be meaningful.

By Jessica Sillers

Fabric Picks

Finance for Parents

What Should You Do With a Life Insurance Benefit?

What is it like getting a life insurance death benefit? What should you actually do with it? We break it down with expert advice.

By Melanie Lockert
Fabric News

New Survey Shows Parents Are Planning for Their Financial Future

The pandemic has forced a lot of parents to think about protecting their families. Fabric conducted a study via The Harris Poll.

By Allison Kade
Fabric News

Coronavirus, Life Insurance and You

Do you need another company update that begins with, “In these challenging times…”? Really, though, here's what’s going on with coronavirus.

By Fabric

About Fabric

iOS

/

Android

Subscribe to our newsletter

© 2020 Fabric Insurance Agency, LLC

Fabric Instant is an Accidental Death Insurance Policy (Form VL-ADH1 with state variations where applicable) and Fabric Premium is a Term Life Insurance Policy (Form ICC16-VLT, ICC16-VLT19, and CMP 0501 with state variations where applicable). Policies are issued by Vantis Life Insurance Company (Vantis Life), Windsor, CT (all states except NY), and by Vantis Life Insurance Company of New York, Brewster, NY (NY only). Coverage may not be available in all states. Issuance of coverage for Fabric Premium is subject to underwriting review and approval. Please see a copy of the policy for the full terms, conditions and exclusions. Policy obligations are the sole responsibility of Vantis Life.

Fabric Insurance Agency, LLC (FIA) is an insurance agency licensed to sell life, accident, and health insurance products. FIA will receive compensation from Vantis Life for such sales. The NAIC Company Code for Vantis Life is 68632. See the Terms of Use for additional information regarding FIA.

Plan like a parent. is a trademark of Fabric Technologies, Inc.