Post it on the fridge, keep it with your bills, carry it in your purse…just don’t put it away somewhere and forget about it. Starting fresh in a new year is a great feeling and this seasonal Monthly Money Calendar can help you begin the new year on the right foot…and it’s one calendar that won’t become obsolete next year!
January
The holiday gift-giving season is over so use this time to pick up items on sale for this next season. Not only will you save money, but you’ll be ahead of the shopping game, too. Review last year’s holiday budget and compare the actual money spent to what was originally budgeted. If it doesn’t look good, resolve to do better!
February
Taxes may not be due until April, but the work should begin now. Gather all the information you’ll need, including W-2 forms, 1099 statements from your financial institutions, and information about your investments. When you’re ready to file, take advantage of E-file. Not only will you typically receive your refund (if you receive one) faster, you can have it directly deposited into a savings account.
March
While you’re celebrating St. Patrick’s Day, think green… as in saving dollars. If your emergency savings account doesn’t look like a pot of gold at the end of the rainbow, add to it. Remember, too, before Tax Day (usually on April 15), you may be able to make a contribution to your IRA if you haven’t already done so.
April
It’s time for spring cleaning of your financial papers. Example, discard most cancelled checks more than a year old, information about items you no longer own, paycheck stubs after one year (after you’ve matched them with your W-2 form), and credit card bills more than a year old. Keep materials up to seven years if tax-related expenses are documented.
May
As you’re remembering our veterans on Memorial Day, consider your own mortality and be sure your affairs are in order. Is your will up to date? Do you have legal and health powers of attorney? Are your beneficiaries current? Do your children know your financial institutions, insurance providers, and last wishes?
June
The school bell just rang signaling the end of the school year. The family is ready for summer! However, in a blink of an eye it will be fall and your kids will need school supplies again. Start now with a back-to-school fund where you save a little each week for upcoming supplies and clothing.
July
Declare your independence from writing checks and visiting your bank or credit union. Set up direct deposit to your savings and checking accounts. It will help you “pay yourself first.”
August
When your summer vacation is over, begin saving for the next one. Start a separate vacation account so you can pay for your trip without going into debt. Discuss destinations with the family. Then research your options using the Internet, friends’ travel experiences, and/or travel agencies.
September
Your children have had their school physicals so now it’s time to think about your “financial physical.” Sit down with your financial professional and review your portfolio. If you’ve changed jobs, gotten married, bought a house, etc., your needs have changed. It’s an important part of protecting your financial future.
October
With a new season, look around your house and be sure you’re being energy efficient. Turn the thermostat down, unplug appliances not in use, review your phone and cable bills for possible savings, turn off the faucet when brushing your teeth or washing dishes, and do laundry using warm or cold water, not hot.
November
When you change your clocks and the batteries in your smoke alarms, review your credit score. This also is a good way to help ensure you have not been the victim of identity theft.
December
Consider giving financial gifts to charitable causes in lieu of holiday gifts. After you’ve selected the organizations, do your research before sending a check. Remember, gifts to 501(c)(3) public charities are typically tax-deductible.
The above does not constitute legal, tax, or financial advice. Please consult a licensed professional for recommendations applicable to your specific situation.
TRN00060; Rev. 12-2024
