Your Financial to-Do List for March
Yes, tax day is almost here, but it’s not the only item on your to-do list this month. You will also want to take a look at your investments and spend FSA money.
None of these tasks take long , but it’s worth taking the time to sit down and really focus on your finances this month if you haven’t. Here are a few more questions you can ask yourself and why it is so important to set a monetary goal for yourself.
Below is what you need to set aside time in March.
Check your attachments
With all the movement in the marketplace, this is a great time to reevaluate your risk tolerance. If you’re worried about what will happen now that Gary Cohn, chief economic adviser to President Donald Trump, has left the White House, take a deep breath. After all, the stock market is not dependent on one person. Focus on your long-term plan and, if you’re going to do something, consider buying a flop .
There are two other things you can control: increasing your savings and changing the balance of your portfolio. Read more about this in this post:
Spend Your FSA Money
If you have renewed your FSA portion of funds from 2017, you have until March 15th to spend your money. This could mean a last-minute appointment with your eye doctor, or a reminder that it can help pay for any out-of-pocket expenses that have been charged to you.
There are many other things you can use your FSA funds for, many of which you may not be aware of, such as acupuncture treatment and therapy. More on this at FSAStore.com and in this post:
Prepare your taxes
If you haven’t filed your tax return yet, get down to business. You don’t want to risk being cheated or delaying a return that could be better used to pay off debt or invest. Here’s what you need to know about cryptocurrencies and taxes, as well as a few more things you might want to do with your refund.
Answer these questions
Do you know what fees you pay for your 401 (k)? What is your credit card balance? How much money do you want to make this year? Take time to review your finances as a whole . You do not need to memorize the answers, but the answers to them will help you understand your financial well-being in general.
Open an online savings account or increase your savings
The Fed is expected to raise interest rates again, which means the interest rate in your online savings account could get even better. Check out Ally or Bank of the Internet, or Goldman Sachs’ newbie Marcus, who recommends NerdWallet . Be sure to check fees, ATM network and minimum deposit requirements before making a transaction.
Track your progress towards financial goals
If you’ve set a money goal for 2018, now is a good time to think about what you are achieving. Obviously, you don’t need to be that close to completion – it’s only March, after all – but you may find that you haven’t made as much progress as you thought, and checking yourself now will make things easier. track than if you were waiting for, say, the middle of the year.
One saving goal that you may not have thought of, but you should consider: if you are going somewhere to travel this summer. Start saving money now and look for affordable travel accommodations.
If you are not where you would like to be, it is never too late to start. And if you’re on the right track, okay, and carry on.