Credello: How to Plan Your Budget in 2022

Most people take some time in January to mark birthdays and paydays on the calendar they hang on their wall or refrigerator. Noting the holidays is deemed unnecessary. Most calendars have those on there already, including the ones you’ve never heard of. What most people don’t do is mark important financial dates. That’s why they often get missed.

Maybe you’re past the date marking exercise and have moved on to figuring out how to use your pension to pay off debt in retirement. Perhaps the only money date you care about is April 15^th, the tax deadline. It’s been moved to April 18^th this year. Here are the 2022 money dates you should be aware of. We’ve organized them by category for your convenience.

Money Dates for the Self-Employed

Being self-employed is very different from working on a job where taxes and benefits are handled by your employer. Self-employed, independent contractors need to keep track of their own expenses, hustle for their own work, and most importantly, make their own quarterly tax deposits. If this is your story, mark the following dates:

• January 18^th: Deadline for filing Q4 estimated tax payments
• April 18^th: Deadline for filing Q1 estimated tax payments
• June 15^th: Deadline for filing Q2 estimated tax payments
• September 15^th: Deadline for filing Q3 estimated tax payments

October 15^th is important also. It’s the date when an extension to pay taxes late expires. The extension itself is typically filed by April 15^th, and it’s a common practice for the self-employed, particularly in these tough economic times.

Family Days When You Should Spend Some Money

There are certain days during the year when you simply must spend some money. Your wedding anniversary is one of those days if you want to stay married. The holidays you observe at the end of the year, like Christmas, Hanukah, and Kwanza, are also in this category. Here are the dates for a few other days in this category that you might not have thought of.

• April 22^nd: Teach Children to Save Day
• May 8^th: Mother’s Day
• June 19^th: Father’s Day

Sales Days to Mark on the Calendar

It’s tough to predict when retail stores will do sales throughout the year. Different sectors turn their inventory over on different cycles, creating sales opportunities when you least expect them. That said, there are certain sales days you can always count on:

• May 30^th: Memorial Day
• September 5^th: Labor Day
• November 25^th: Black Friday

Federal Filing Days Not Tax-Related

The federal government has a deadline date for everything they do. If you miss it, you’ll need to wait until next year. This applies to students, senior citizens, and everyday citizens looking to enroll for government services. The following are dates you don’t want to miss:

• March 31^st: Last day to apply for Medicare Parts A or B
• June 30^th: Last Day to Apply for Federal Student Aid
• October 1^st: First day to submit FAFSA
• November 1^st: Opening Day for Federal Health Insurance Marketplace Enrollment

The Bottom Line: Don’t Miss Your Money Dates

Self-employed people are reminded constantly about tax filings. Noting them on the calendar can’t hurt. Family days are usually marked on the calendar. Circle them anyway. Do the same with the sales holidays. As for federal filing days, they are easy to miss. Don’t count on the government to remind you about them. Mark them on the calendar today.

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