Savings expert gives some tips going into the holiday season

LAS VEGAS ( KLAS ) — It is just a matter of time before you’re hit with Black Friday, Cyber Monday, and gift shopping which can be a very expensive period for Americans.

Before that happens, a fall financial check-up may be in order.

Every new season brings with it new expenses. Right now, you are no doubt thinking of your kids sports, fun fall festivities, pumpkin patch outings, and Halloween parties.

Consumer savings expert Andrea Woroch reminds consumers that if they don’t adjust their budget they will likely overspend.

“Go through your monthly expenses and figure out where to cut back to accommodate for these new seasonal expenses,” Woroch said. “This could be negotiating bills with service providers, or canceling unused services you don’t really need or use.”

She said right now to focus on paying off any summer credit card balances as you want a clean slate with holidays approaching.

“If you went overboard, maybe spent more on a summer vacation, seasonal splurges, it’s okay, just make sure you focus on paying off that debt before we get into the winter holidays.”

Woroch also added that you should detail a debt repayment plan.

With open enrollment is upon us, Woroch also suggested going through the past year and see if your insurance plan really met your needs.

Don’t just look at the monthly premium, she said, you need to look at all the costs associated with your health insurance plan.

“Sometimes paying a little bit more each month for a better plan, means you’ll get a lower annual deductible,” Woroch added. “It will eventually help save you more if you have a lot of various health needs, and spending throughout the year.”

Woroch also advises that people start stashing a little savings aside if they can. She said $25 a week from now until Christmas will save up $200 to spend on a last minute gift if needed.

October is also great time to start holiday shopping. Amazon announced Prime Day deals on Oct. 8 and 9, and competitors like Target and Walmart will be offering their own sales.

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