Making your October budget now can help you plan for Halloween, fall activities, holiday savings and all the normal bills that still have to get paid. Below, we’ll show you what to include in your October budget, how to build it step by step, and a real $9,443 monthly budget example.
October is here, which means cooler weather, Halloween, fall activities and the beginning of that stretch of the year where your money can disappear FAST if you don’t plan for it.
The good news is you do not need a totally different budget for October. You just need to make sure your regular monthly plan includes the extra things happening this month.
How to Make an October Budget
Start by closing out September. Make sure everything that happened is updated so you know exactly what money is rolling into October.
Then build your October budget in this order:
- Income
- Minimum debt payments
- Bills
- Spending
- Savings
That’s it. Five simple categories.
Once everything is in there, look at what’s left. That money needs a job too. Maybe you’re putting extra on debt, getting a Paycheck Ahead, saving for Christmas or finally funding something you know is coming.
What to Include in Your October Budget
This is where October gets a little different.
Along with your normal bills and spending, think through what is actually happening this month:
- Halloween costumes and candy
- Fall festivals and activities
- School expenses
- Sports expenses
- Travel
- Annual or quarterly bills
- Thanksgiving expenses coming soon
- Christmas savings
If you know it’s coming, put it in the budget.
Christmas is December 25th every single year. Halloween is October 31st every single year. These are not emergencies. They just need a plan.
Real October Budget Example
Here is a real October budget with $9,443 in income. They are paying $620 in monthly debt minimums, and their bills include biweekly mortgage payments, regular subscriptions, dog food and more. We also added a buffer because they are new to budgeting and may have forgotten something.
Their spending categories match their real life, they are saving $830 for things like Christmas and vehicle repairs, and they are also paying extra on one of their credit cards because getting debt-free is one of their goals.
A few things to notice in this October budget:
- $100 is set aside for Halloween
- $830 is going into savings for Christmas, dogs, home and auto expenses, and annual bills
- A $200 buffer gives them room for anything they may have forgotten
- They still have money left to put extra toward debt
One more thing to check this month: if you get three paychecks in October, do not automatically treat that third paycheck like free money. This could be the month you use it to get a Paycheck Ahead and make next month a whole lot easier.
Watch Us Build This October Budget
In this video, we walk through this exact budget step by step so you can follow along and build yours.
Want a budget that tells every dollar exactly where to go? Click here to get our Simplified Budget System and build your own monthly plan.
Your October budget should include your income, minimum debt payments, bills, spending and savings. Then add anything specific to October, like Halloween, fall activities, sports, travel, annual bills and holiday savings. The goal is to plan for what is actually happening this month, not just your normal monthly expenses.
Start by closing out September so your numbers are accurate. Then list all of your October income, minimum debt payments, bills, spending and savings. Once everything is planned, look at what is left and decide what that money should do next, such as paying extra on debt or getting a Paycheck Ahead.
Plan for any expenses that are different from your normal monthly budget, including Halloween costumes and candy, fall festivals, sports, school activities, travel and upcoming holiday costs. If you have not started saving for Christmas yet, October is a good time to add that to your budget.
If you get three paychecks in October, consider using the extra paycheck to get a Paycheck Ahead instead of treating it like extra spending money. If your regular monthly budget is already covered by two paychecks, that third paycheck can start funding November and help you get ahead.
