We often spend more than usual during the summer. Holidays, festivals, eating out, home and garden expenses, and spontaneous weekend trips can mean that by the start of autumn, there is less money in your bank account than you had planned in spring.

That is why the end of August and the beginning of autumn are a good time to review your finances. You do not have to give up everything you enjoy or switch to a very strict savings plan. What matters more is understanding where your money is going, what expenses are coming up and what you can do to bring your monthly budget back into balance.

Here are 10 practical steps to get started.

1. Work out how much summer really cost you

The first step is to understand your current financial situation. Review your bank account and credit card statements from the past couple of months and write down your main expenses.

Pay particular attention to holidays, eating out, entertainment, transport, home and garden costs, and spontaneous purchases.

Adding up all your spending may not be very enjoyable, but it will help you understand where to start. Only when you know how much you spent and what you spent it on can you make a realistic plan for the months ahead.

2. Create a new monthly budget for autumn

Summer and autumn expenses can be very different. While more money may go towards holidays and entertainment in summer, autumn can bring extra costs related to school and kindergarten, clubs and activities, seasonal clothing, car maintenance or the home.

Write down your monthly income after taxes and divide your expenses into three groups:

• essential fixed expenses;
• variable everyday expenses;
• wants and entertainment.

This makes it easier to see where you could cut back if necessary.

3. Try at least one no-spend week

If you got used to eating out more often, buying takeaway coffee or making spontaneous shopping trips during the summer, a week without unnecessary spending can help reset those habits.

This does not mean you cannot spend any money at all. Pay your essential bills and buy the food you need, but temporarily avoid all non-essential purchases.

Even one no-spend week can show you how much money actually goes towards small everyday purchases.

4. Review all recurring payments and subscriptions

Are you still paying for a streaming service you hardly use? Could you switch to a cheaper mobile plan? Is an app or digital service charging you automatically every month even though you have almost forgotten about it?

Review all regular payments from your bank account and ask yourself about each service: do I use this enough to pay for it every month?

Cancelling even a few small monthly payments can add up to noticeable savings over the course of a year.

5. Set a specific financial goal

“I need to spend less” is a very general goal. It is much easier to change your habits when you know exactly what you are working towards.

For example, you could aim to save 500 euros over three months for unexpected expenses, pay off one smaller financial obligation before the end of the year, or put aside a fixed amount every month for next summer’s holiday.

The more specific your goal is, the easier it is to track your progress.

6. Start rebuilding your emergency savings

If you had to use some of your savings during the summer, you do not need to replace the full amount in a single month.

Start with an amount that feels manageable. Even a regular transfer of 20, 50 or 100 euros into a savings account can help you get back into the habit of saving.

One useful option is to set up an automatic transfer for payday. This way, the money you want to save is moved aside before you have a chance to spend it on everyday purchases.

7. Plan larger autumn expenses in advance

Autumn can bring several larger expenses, such as school and children’s activities, new seasonal clothing, tyre changes, car maintenance, home repairs or larger household purchases.

Make a list of the main known expenses for the next three months and, if possible, add an estimated amount next to each one.

If you already know in August that you will have a 300-euro expense in October, you can start putting money aside gradually instead of having to find the full amount at once.

8. Prioritise your most expensive financial obligations

If you have taken on several financial obligations over the summer, review their interest rates, fees and repayment deadlines.

In general, if possible, it makes sense to reduce the obligations that cost you the most first. At the same time, make sure that all required monthly payments are made on time.

If you have several obligations and managing them is becoming difficult, it is worth reviewing your total debt burden and ability to repay before taking out a new loan.

9. Use the 24-hour rule

One of the simplest ways to reduce spontaneous purchases is to avoid making the decision immediately.

If the purchase is not essential, wait at least 24 hours. For a larger expense, you can give yourself a few days to think about it.

Often, the initial urge to buy something disappears during that time, and the money can be kept for something more important.

10. Do not try to fix everything in one month

If summer turned out to be more expensive than expected, it does not mean September has to become a month of strict saving. An overly strict budget can be just as difficult to stick to as an overly strict diet.

Make a realistic plan, for example for the next three months. Reduce spending in a few categories, start saving again and plan larger expenses in advance.

It does not really matter whether it takes one month or three to get your finances back in order. What matters is that you are gradually regaining control of your money.

If you have a necessary larger expense coming up this autumn

Even with a well-planned budget, situations can arise where a necessary larger expense cannot be fully covered by savings. For example, your car or home may need repairs, an important household appliance may need replacing, or another unexpected cost may come up.

In this situation, one possible option may be a Laen.ee consumer loan, which allows you to spread a larger necessary expense over a longer period.

On the Laen.ee website, you can review the consumer loan terms, calculate a suitable loan amount and repayment period, and submit an application online.