Money Rehab with Nicole Lapin - Do Not Miss These Crucial Financial Deadlines!

Episode Date: January 11, 2024

Do you want to get insider tax-free shopping deals? Or, crush your financial goals? How about free stuff from your favorite stores? In this episode, Nicole will teach you how to accomplish all this simply by writing a few notes on your calendar. Want the kiddos in your life to become money masters? Check out Greenlight, the best money app and debit card for families (and get one month free!): http://greenlight.com/moneyrehab Investors: want to get a 1% bonus on your investments? Check out our sweet deal with Robinhood at http://robinhood.com/mnn  Is mental health a resolution for 2024? Get 10% off your first month of therapy with BetterHelp at: http://betterhelp.com/moneyrehab  Want one-on-one money coaching from Nicole? Book a meeting with her here: intro.co/moneynewsnetwork 

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To get started, visit bofa.com slash newprosmedia. That's B-O-F-A dot com slash N-E-W pros, P-R-O-S, media. Bofa.com slash newprosmedia. I'm Nicole Lappin, the only financial expert you don't need a dictionary to understand. It's time for some money rehab. If you're a regular in the Lappinverse, you know that I love putting reminders in my calendar. I have a calendar reminder to schedule my calendar reminders, not too dissimilarly from how I have a label for my label maker box. Now, to be fair, it is in an area where a lot of boxes are labeled, and it would be weird if the label maker didn't have a label. Just saying. I know it's a little insane. It might

not bring you the same joy it brings me, and that's totally okay. But you should have a few calendar reminders set for your financial self. And today I'm going to walk you through those important dates for 2024. And I'm not going to give you the hard final, final deadlines, because for a lot of the big financial projects that you need to tackle throughout the year, you shouldn't start the day they're due, or frankly, you'll be screwed. So for those more time-intensive financial financial deadlines I'm going to give you two deadlines the hard and fast due date and my recommendation for the start date but you do you let's jump into the first important date we should all put on our calendar and it's a short jump because I want you to flip

to today for FSA reimbursement yep I'm going to give you homework for one of the financial deadlines right now. If you had an FSA in 2023, you should check with the HR department at your company if you're at a big company and you have one today to confirm when you'll need to submit all of your 2023 receipts for reimbursement. And just to be clear, this deadline is for submitting receipts for FSA eligible expenses that you gathered throughout 2023 and not the new expenses that you've maybe already made for 2024. In many cases, you'll be able to submit the receipts for expenses that you incurred in 2023 by March 15th, 2024. So check the deadline with your HR department right now and then make sure you have all of your receipts in because you're missing out on free money otherwise. And we don't want that on any

day. Next, your birthday. Now, I don't know when that is, so you're going to have to fill in the blanks on this one. But don't worry, this is going to be a little bit more fun than submitting receipts. Many brands will give you coupons or freebies on your birthday. There are a whole bunch of brands that have programs like this off the top of my head. Pinkberry, Starbucks, American Eagle, CVS, Sephora is a good one. Barnes and Noble all offer some sort of birthday perk for loyalty members. So if you love any of those brands, definitely make sure that you're signing up for the loyalty programs now so that you can get some love on your birthday. But by no means is this an exhaustive list. If you have a favorite brand that you want to hit up on your birthday,

a quick Google will show if they'll celebrate your birthday with a little something extra special. April 15th, Tax Day. Woohoo! We love Tax Day here at Money Rehab. You should circle this one on your calendar in a bright color, little hearts around it, whatever gets you excited for it. I'm giving myself a little pep talk here, honestly, because I get a little bit stressy around tax season. Yes, even Mama Money Rehab herself gets tax stressy. But we got this.

We've done way harder things in life than filing a tax return. April 15th is also the last day to make a 2023 IRA contribution. So if you haven't maxed out your IRA yet and you want to for last year, you got to do it by 4-15. Once you have April 15th marked on your calendar, I also want you to mark April 1st on your calendar. And that's when you should start prepping all of this tax document goodness for tax season. You should not be starting those things on April 15th. If you give yourself two weeks to get all of this tax document goodness for tax season. You should not be starting those things on April 15th. If you give yourself two weeks to get all of this paperwork in, you're not going to be rushing toward that April 15th deadline.

And crucially, you'll be less likely to let something slip through the cracks. A special PSA for my self-employed money rehab friends. If you pay your taxes quarterly, your taxes for January to March 31st earnings are due April 15th. And while we're at it, let's just add January 16th, June 17th, September 16th to our calendars as well. Those are the other due dates for quarterly taxes in the 2024 calendar year. The April, June and September dates are for the first three quarters of 2024, but the January date is actually for the last quarter of 2023. Ah, the joys of being self-employed.

Four tax days! Quadruple the fun! Lucky us! Get excited. Next, May 27th, Memorial Day. Memorial Day weekend is the best time to find deals on appliances and mattresses. If you're thinking that you'll need a new mattress within the next year, plan on doing it on May 27th.

Let's flip to July because the next day I want you to mark is July 1st. Back to school deals. This is something that I learned somewhat recently, actually, but many states offer a weekend either in July or August where back to school items are eligible to purchase without sales tax. Most states hold this weekend in August, but there are some states that hold this weekend in July. On July 1st, you should look up whether your state holds that weekend and when, and then, you guessed it, put it in your calendar.

July 4th. On Independence Day, I want you to lean into that holiday spirit and have a check-in with yourself on all of your financial independence goals. See what I did there? In addition to being a great day to reflect on independence in general, July 4th is also a little bit past the halfway mark for 2024. It's a good day to ask yourself, self, am I following the New Year's resolutions I set? Am I on track for my end of year goals? I said I wanted to save 6K by the end of the year, and I've only saved 2K. Is that cool? Is my future self cool with that? Maybe you wanted to put money in a high yield savings account. Maybe you wanted to open a retirement account. Maybe you wanted to do all sorts of financial goodness, but you haven't

chosen an account yet. You haven't opened one yet, or you haven't done them yet. July 4th is a great time to put yourself back on track before the year breezes by. September 2nd, Labor Day. Labor Day is another great long holiday weekend for sales. Unlike Memorial Day, which is the golden hour for appliances and of course mattresses, Labor Day is the best time for end-of-season shopping like patio furniture and grills. So if at the beginning of summer you feel like you need new summertime goodies, try and wait until Labor Day when you'll get the most bang for your buck, and then you'll be ready for a hot girl or hot guy summer in 2025. November 1st, open enrollment. November 1st marks

the opening of the federal health insurance marketplace for health insurance coverage. But if you're getting your health care through your employer, your open enrollment period is probably around this time too. Now, this isn't the deadline for the enrollment. This is just when you'll first be able to enroll. But it's better to get a head start and look through all of your options as soon as enrollment opens.

Once you go through your options, you might have questions. So get a head start on this and you'll actually have time to talk through all of those questions with an HR advisor or health insurance representative. November 29th, Black Friday. On Black Friday and also on Cyber Monday, which this year is pretty late, it's December 2nd, you'll want to finalize, yes, finalize all of your holiday shopping, waiting until after this mega discounted weekend puts you in a position where you might have to pay premiums for expedited shipping, and that is 2023 behavior. Not for the new and improved financial S in 2024. December 31st. This is the last day of 2024, and it seems so far away, but trust me, it will come up so freaking quickly. As the last day of the year it seems so far away but trust me it will come up so freaking quickly as

the last day of the year it's also the deadline for any annual financial projects like fsa spending and the many flavors of taxes we have property taxes income taxes tax deductible spending and so on so i want you to mark your calendar for de December 1st and start thinking about bringing the 2024 fiscal year to a nice, neat close. For today's tip, you can take straight to the bank. This might seem obvious, but you should really put these dates in your calendar, whether there's a physical calendar hanging up in your kitchen, and if so, I like your style, or the calendar app on your phone. You might be thinking, Lapid, I got this. I'm going to remember these the calendar app on your phone. You might be thinking, Lappin, I got this.

I'm going to remember these dates. And maybe you will. But the potential of one of these dates slipping your mind and costing you big is definitely there. So give your brain a little rest and outsource that mental space, that cognitive load to your calendar. Money Rehab is a production of Money News Network. I'm your host, Nicole Lappin.

Money Rehab's executive producer is Morgan L Network. I'm your host, Nicole Lappin. Money Rehab's executive producer is Morgan Levoy. Our researcher is Emily Holmes. Do you need some money rehab? And let's be honest, we all do. So email us your money questions, moneyrehab at moneynewsnetwork.com to potentially have your questions answered on the show or even have a one-on-one intervention with me. And follow us on Instagram at Money News and TikTok at Money News Network for exclusive video content. And lastly, thank you. No, seriously, thank you. Thank you for listening and for investing in yourself, which is the most important investment you can make.