We all know how New Year’s resolutions can go. In January, everyone is hustling and eager to achieve their goals. But February is a different story. With the excitement of the new year behind us, it can be easy to settle back into old patterns and lose motivation for our financial goals. To see any real change in your financial situation, it’s important to stay vigilant. With that said, here are a few items to add to your February Financial To-Do List.
Three Items to Add to Your Financial To-Do List
Get ready for tax season
Before tax season is in full swing, you have a few decisions to make. Will you be filing taxes on your own? Or will you hire a professional? You may also want to take this time to gather all of the appropriate documents that you’ll need to complete your tax paperwork. This includes bank statements, a W-2 form from your employer, and more. To ensure you have compiled all of the correct information, take a look at this IRS tax-form checklist.
To get ahead of the game, you will also want to create a complete list of your income and expenses. From there, examine your possible tax deductions.
Filing your taxes can be a grueling process. Preparing for tax season ahead of time will save you the stress of compiling lots of paperwork at the last minute. This way, you won’t have to sweat come April.
Budget for Valentine’s Day
Luckily, your February financial to-do list doesn’t only include the stresses of tax season. With any stroke of luck, you will also add Valentine’s Day planning to your agenda. While it can be tempting to throw caution to the wind and splurge on your significant other, remember that Valentine’s Day isn’t about how much you spend. This piece of advice goes for everyone, and especially those of you who are trying to get out of debt.
Taking the time to plan something special for Valentine’s Day will be much more meaningful to your significant other than any material item. A few low-budget Valentine’s Day ideas include cooking a romantic dinner or making a meaningful gift (try using Pinterest for some great DIY ideas). If all else fails, be sure to include any Valentine’s Day expenses into your monthly budget.
Continue to pay off holiday debt
While this may not be the most appealing item to add to your financial to-do list, paying off credit card debt is a reality to many Americans. Try not to get discouraged by the debts you may have accrued over the holidays. Instead, jump right in and start making monthly payments on your current debts. The sooner you commit to a tackling your debt, the sooner you can become debt free!
For more information on getting out of debt or a free credit counseling session, contact the certified credit counselors at American Consumer Credit Counseling by calling 800-769-3571.