Once late November hits, life tends to get busy. Weekends can get booked up, and days can get filled with appointments and, hopefully, fun plans. That’s not a bad thing, but it could leave you with a serious crunch on your hands if you put off too many financial tasks until late November or December. We all know those last few weeks of the year can get loaded with holiday parties, shopping, and travel plans.
That’s what makes October the perfect time to tackle your financial must-dos. Here are five key moves to make before the holiday madness begins.
Read: These past three months are the key to the Social Security COLA
1. Do an emergency fund checkup
Do you have enough cash in savings to cover a good three to six months of expenses? If you’re not sure, now’s the time to find out.
While unemployment is still relatively low, today’s economy is a tricky one. Higher borrowing costs are causing companies to cut corners and, in some cases, jobs. Between that and AI-related fears and speculations, you need to be on alert if you’re still working and depend on your paycheck for income.
A solid emergency fund could be your ticket to surviving a layoff without hurting your long-term financial plans. To see if your emergency fund is sufficient, review your recurring expenses and see if you have enough cash to pay those bills for three months at a minimum.
Also, many planners will tell you that your emergency fund is meant to cover essential bills — things like food, mortgage payments, and expenses you can’t do without. But it’s important to be realistic. If you’re out of work, you can’t never leave the house or cancel every streaming service to cut costs. What are you going to do — stare at the walls in between job interviews?
In other words, make sure your emergency fund can pay for at least three months of not just essential expenses, but reasonable non-essential expenses. Continuing to pay for cable, Netflix, or a few nights out per month with friends isn’t reckless if you have money in the bank to cover it.
2. Create a holiday budget
It’s nice to go all out for the holidays, but a lot of folks risk getting into debt after all’s said and done. If you’re trying to avoid debt or focus on other financial goals, it’s important to get a handle on your holiday spending. And that starts with a budget.
You might think you can wait until November to put a holiday budget together. But remember, some of those sales might drop as early as October. And if you don’t have a spending plan, you risk going overboard. Make that budget now so you don’t have to stress about it later.
3. Gear up for open enrollment at work
If you’re working, you may remember that November is typically when employers ask workers to choose benefits for the upcoming year. You may get access to your company’s benefits portal beforehand, but either way, expect to have a limited amount of time to decide on things like your health insurance plan and FSA funding.
To make those decisions easier, take a look at your healthcare needs and spending now. The costs you’ve incurred to date in 2026 could help you decide whether to max out an FSA for the new year, for example, versus contribute less.
4. Check your progress on retirement plan contributions
If you have a retirement savings goal you’re looking to meet for the year, now’s a great time to check your progress. That way, you can take steps to ramp up if you’re behind.
Keep in mind that if you’re saving in an IRA, you have until next year’s tax-filing deadline to finish contributing for 2026. If you’re saving in a 401(k), any money you want counted toward 2026 needs to hit your account by December 31.
Pay close attention to your 401(k) progress in particular if your company offers a generous workplace match. If you need to make changes to your contribution rate to snag your match in full, the sooner you tell your payroll department, the better.
It could take a pay cycle or two to process that type of change. Filling out the right forms now could help you avoid missing out on matching dollars you’re hoping to claim.
5. Explore tax-reduction strategies
Have assets in a taxable account that have lost value? Selling them could be a great way to reduce your tax liability this year. Similarly, if you’re sitting on capital gains, now’s a good time to explore ways to minimize the associated tax bill, like increasing charitable contributions.
Focusing on taxes this fall could help you pay less and stress less. And if you’re looking for help on the tax front, the time to find an accountant is now, before the end of the year gets busy and tax season prep starts ramping up.
While we’re not at the tail end of 2026 just yet, it’s an optimal time to tackle the moves above so you don’t run out of time later. Giving up one weekend of hiking, farmers markets, and football to do these tasks could help you start the new year in a better place financially.
