Spring is right around the corner, and we can’t think of anything better than to start preparing for longer days and warmer weather. This Month’s financial to-do list is about taking care of your future wants and needs. Start the month off right:
Daylight Savings Chores
There are a few things that only need to be done a couple times a year, and what better reminder to accomplish these than the time change. On March 9th, we will be adjusting our clocks an hour ahead, but here’s a few other things we’d like to tack on to your list: replace the batteries in smoke detectors, replace toothbrushes, update online passwords, wash pillows, and flip the mattress.
Complete FAFSA Application
The state deadline for Missouri FAFSA applications is April 1. Federal aid deadlines continue through June. However, if you or your child plan on attending college in the fall, now is the time to get that filed, as many institutions award aid on a first-come, first –serve basis.
Contribute to an IRA
Most Americans should be expecting a nice refund check from their taxes pretty soon. We recommend investing that money in your future. Open an IRA if you haven’t already and start contributing to it regularly. You’ll enjoy tax breaks while your retirement savings grows tax-free or tax-deferred.
The polar vortex is harshing our mellow, and we long for spring ASAP! With any luck, it’ll be right around the corner. So what better time to gear up for warmer climates than by organizing closets. Start a Goodwill bin to donate outgrown or dated wardrobe pieces, use baskets to corral seasonal items, and screw hooks to the inside of the doors for extra hanging room.
Research Summer Plans
Are you going on vacation this year? Will your kids attend summer camps or enrichment programs? Take some time to figure out what your summer activities will look like and start budgeting respectfully. A Vacation Savings Account is a great option to directly deposit funds from your paycheck so you don’t have a chance to spend it before you need it.