How to create a fall savings plan

As summer turns to fall, the weather may be cooling down, but your spending might be warming up. In recent years, American families with school-aged kids have planned to spend, on average, more than $800 on back-to-school supplies. That's just the beginning. It’s also the season to pencil in some fun fall activities as a family, and you may even be thinking about getting a head start on prepping for the holidays.

So, how do you pay for it all without breaking your budget?

Create a fall savings plan to keep you and your fall festivities on track all season long.

Read more: How to open an online bank account

As you get your fall savings plan underway, start by thinking about what goals you want to save for, and then decide how much you want to save toward each one.

Now you know that altogether, you need to save $4,350 to meet your fall savings goals.

Tip: To track your progress on each savings goal, create savings buckets , a feature of Ally Bank’s Savings Account . You can make up to 30 savings buckets to stay organized as you work toward your goals.

If you’ve slimmed down your budget and still need to carve out more savings, start thinking beyond the usual suspects.

Home energy costs are a great place to start saving. Take a close look at your utility bills to spot opportunities to shave expenses. You could try installing a programmable thermostat to keep energy costs down. Make sure to regularly service your HVAC system to keep it running efficiently and prevent expensive maintenance. You may also elect to turn off the HVAC and open up windows instead.

If you have student loans , consider strategies for reducing your debt. Paying off student loans, credit cards, a mortgage or any other type of debt is not one size fits all. Experiment with different debt management styles , including the snowball method, to find the strategy that works best for you.

If you’ve got extra stuff around the house you don’t need, you could turn it into cash for fall savings. Electronics, old cellphones, books, appliances and clothes are just a few things you could sell for cash.

The fall season is a great time to earn extra money with an online gig or picking up work raking leaves, cleaning gutters or selling homemade baked goods.

Whether you’re planning a back-to-school shopping trip, a fall getaway or holiday shopping for everyone on your list, take time to compare prices and seek out discounts. And while you’re shopping, consider using cash back apps to earn back some of what you spend, then funnel that into fall savings.

Investing could help you pursue your goals. If you don’t have an investment account yet, you can get started with Ally Invest today. You can choose Self-Directed Trading if you like DIY investing or Robo Portfolios if you prefer to invest with professional guidance.

Fall is a great time to set some new savings goals and evaluate ones you’ve already been working on. As you prepare for back-to-school shopping, fall travel or the holidays, a solid savings plan could help you keep your family’s financial goals top of mind and moving forward all year round.