It’s hard to believe the first quarter of the year has already flown by. As we look toward to the days of spring and summer, it’s easy to get caught up in the calendar and the celebrations ahead. However, April is the perfect month to hit the pause button in between seasons to protect your finances in the months to come. This punch list of these April Money Saving Tips can help keep your books balanced and your bank account at peace through the end of the year.
Store Away Winter Gear Well & Hit the Clearance
While we could still have a few frosty mornings here in Indiana, odds are good that a major winter event is officially in our past. That means we can store away shovels, ice melt, and maybe even the ice scrapers until the chillier temperatures come back. Heavy winter coats can be washed and packed away along with the majority of hats and mittens, too. Keep one or two things handy just in case there’s a random day of cold weather. But by and large, we’re moving on. And when you’re in the store or shopping online, don’t forget to look in the clearance section to pick up all of the above at a much cheaper price before things disappear.
Start Budgeting for Gifts Now
Mother’s Day, Graduation, Father’s Day, and the wedding season all loom large on the horizon. Don’t be caught off guard this year. Begin planning now for how much you’ll spend and exactly who you need to buy for. Don’t forget all levels of graduates – high school, college, maybe even kindergarten or middle school – and any special events that may throw you off course like prom or end of the school year activities. Springtime and early summer holidays and celebrations can be budget busters if we’re not thinking ahead.
Sort Through Your Wardrobe
Now’s the time to begin the process of pulling items from the bottom of your drawers or perhaps from the shelves where you stored them at the end of the summer. Evaluate what fits and what doesn’t. Clear out those pieces you’ll no longer wear. If you have kids, you don’t want to wait until the last minute because shorts and short sleeved items may be too small after a season of growing. Don’t forget your spring and summer footwear, too. Clean the dust off your sandals and get ready for warmer weather.
Organize Your Taxes
Normally, I’d recommend tackling your taxes sooner than April because they’re due mid month. However, this year’s extended deadline does provide a bit more breathing space. Still, it’s smart not to wait until the last minute to gather all of your documents and begin the process whether you’re filing on your own or using the help of a tax qualified professional. Consider setting up a box to collect documents all year long so that next year it’s less of a major undertaking.
Compile a Home Repair Punch List
Before you get carried away in summer fun, spend a few minutes evaluating what may need repaired or replaced in your home. After a year of avoiding having others in our homes, it’s been easy to neglect necessary maintenance. Whether the jobs are small like replacing outdoor flood lights and inserting screens in the windows (both on my to do list) or a bit more labor intensive like repainting a space or replacing an appliance, begin compiling a list and ranking items in order of importance.
Schedule Health Screenings
Many Americans have let regular health screenings come and go during the pandemic. If you rank among them, April is the time to put some dates on the calendar even if they’re off in the distant future. Taking good care of your health can save you money in the long run when it comes to early intervention and quality of life. From teeth cleanings to skin cancer checks, make a plan to invest in your well being during the months ahead.
Prioritize Spending for Unexpected Funds
If you receive a tax refund or you qualify for a stimulus check, you need a plan on how you’ll spend those extra dollars before they arrive. Rather than letting either or both hit your checking account and just disappear, make a plan. First and foremost, get caught up on any overdue bills. When you can, eliminate debt. Save for retirement. Put back money for travel or even the Christmas holiday. Purchase items you need to replace. Don’t spend anything though before you actually receive the cash. Create a priorities list and begin checking through those once the extra money arrives.
What you do now influences the rest of 2021. Before running into the season without thinking, begin taking steps to protect your financial future for the months ahead.
My book is now available: Slaying the Debt Dragon: How One Family Conquered Their Money Monster and Found an Inspired Happily Ever After. You can also check out The Debt Free Devotional
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