A money expert shares his two cents on achieving a September financial reset
September always feels like a fresh start, so we enlisted the smarts of a money expert to furnish us with six small steps to take to ensure a stronger year-end in your finances.
When summer turns to autumn and children return to school, there’s a natural shift back into routine. In my work as a financial advisor, I see every year how clients use this reset to get organised again, back to schedules, back to structure, and often, back to looking more closely at their finances. Just as January is seen as a time for resolutions, September can be the ideal point for a financial reset.
The reality is, and something I notice in my own family too, summer is often expensive. Between travel, summer camps, childcare and the extra spending that comes with longer days, it’s not unusual for bank balances to look worse by September. That’s why I encourage clients to use this month as a financial reset button. With a few deliberate steps, you can ease money stress and set yourself up for a stronger finish to the year.
Here are six small but powerful steps I recommend taking now.
1. Tackle your debts first
One of the most common conversations I have with clients is around debt. It weighs heavily on people’s minds, and clearing even a small loan can provide a huge psychological boost. I often suggest starting with the smallest balance, even if it’s not the one with the highest interest. This is known as the snowball method, and it works because paying off one debt creates momentum. You feel progress and that keeps you motivated to tackle the next one.
That said, there’s also a practical side. With Irish credit card interest rates hovering around 25%, this is some of the most expensive debt you can carry. I’ve met clients who had €5,000 sitting in a savings account earning less than 1%, while carrying the same amount in credit card debt. It makes no financial sense to leave money on deposit while paying sky-high interest elsewhere. Clearing that debt should be priority number one.
2. Create a Q4 budget
The last quarter of the year can be financially demanding, with Christmas and the inevitable unexpected costs that always seem to crop up. Without a plan, it’s easy to overspend and start January under pressure. I often recommend that clients take time in September to map out the months ahead in detail. The exercise alone can be eye-opening. When you see projected spending beyond the essentials—on gifts, social events or higher winter electricity and gas bills set out clearly—you’re far less likely to let it spiral.
A simple guide I suggest is the 50/30/20 rule:
- 50% of income for essentials
- 30% for discretionary spending
- 20% for savings and debt repayment
The key is to ‘save first and spend later’. By ringf-encing savings at the start of the month, you protect your long-term goals before day-to-day spending creeps in. A clear Q4 budget now helps prevent financial regrets in January.
3. Review your insurance and subscriptions
One of the easiest wins in financial planning is cutting back on what I call ‘silent expenses’. These are costs that quietly eat into your budget every month without you noticing. Health insurance is a big one. Premiums are rising again, but many people are paying for cover they don’t need or missing out on better deals by not switching. I’ve worked with families who saved hundreds of euro simply by adjusting their cover to suit their actual needs.
The same applies to subscriptions: streaming services, apps, memberships. I had a client recently who discovered she was paying for three separate streaming platforms she hardly used. On their own, €10 here and €20 there might not feel like much, but across a year it adds up. September is the perfect time to cancel what you no longer use.
4. Look for tax-efficient ways to save
When we think about improving finances, most people focus on earning more or spending less. But one of the smartest ways to build wealth is by reducing how much tax you pay. For higher-rate taxpayers especially, pensions remain the most powerful tool available, thanks to the generous tax relief on contributions. Put simply, if you’re on the higher 40% tax rate and you put €100 into your pension, it effectively only costs you €60, because the other €40 comes back to you in tax relief. That means your money grows tax-free, and you get a significant boost just for saving for your future.
Beyond pensions, the Employment Investment Incentive Scheme (EIIS) allows you to invest in Irish companies while receiving tax relief. I often explain it to clients this way: why leave money on the table for the tax man? If you have the money to invest in your pension, it’s one of the smartest financial choices you can make. It’s a win-win when your money is working harder for you while also reducing your tax bill.
5. Check your pension contributions (and think ahead to auto-enrolment)
I always say that your pension is one of the most important financial assets you’ll ever own. Yet too many people treat it as an afterthought. Maximise your contributions within the age-related limits, and don’t underestimate the impact of tax relief. Every euro you save into a pension reduces your tax liability while building your future income.
With auto-enrolment scheduled to begin in January 2026, it’s especially important for higher-rate taxpayers to act now. If you wait to be automatically enrolled, you risk missing out on the significant tax advantages available today. I’ve had conversations with clients in their 40s who assumed auto-enrolment would “sort them out,” but the reality is that waiting could cost them thousands in missed reliefs. Planning ahead allows you to get the most from the system rather than letting it dictate your options.
6. Put your savings to work
Finally, if you’ve been lucky enough to build up cash savings, make sure they’re not losing value. Inflation remains a real concern, and money sitting in low-interest accounts is effectively eroding over time.
I regularly meet clients who are surprised to learn that moving their savings to a digital bank or alternative provider could double or even triple the interest they’re currently earning. Even small percentage increases compound over time. The goal isn’t just to save, it’s to ensure your savings are working as hard as you are.
My takeaway advice
September is about regaining structure and building good habits. By making small, intentional moves now, whether that’s clearing a credit card, reviewing insurance or boosting your pension, you’re not just tidying up your finances. You’re cutting unnecessary costs, building financial security and putting yourself in a stronger position for the months ahead.
I’ve seen firsthand how these simple steps can transform someone’s outlook. Financial well-being isn’t about being perfect. It’s about progress. And the good news is, with just a few smart moves this month, you can finish the year stronger than you started.
Nick Charalambous, Managing Director of Alpha Wealth, has worked in investment and private banking for some of the biggest banks in the world. With over 25 years of financial services experience in Cork, primarily as a financial advisor with AIB and Ulster Bank, Nick has built up an extensive knowledge of the financial services environment, which he shares with his clients in many areas of personal finance, alphawealth.ie.
Also Read
