Important Dates from the Financial Planning Association
January 16, 2007
I received an email from the Financial Planning Association (FPA) yesterday letting me know about a series of personal finances articles they publish every month. As described on their website, the FPA
“is the non-profit membership organization for the financial planning community with 28,600 members in 100 chapters across the country. FPA connects those who need, support and deliver financial planning.”
One article that caught my eye was a listing of events for our financial calendar. Below are some important dates for the first quarter of 2007.
January
Set your credit report dates
Each year, you should check each of your credit reports from annualcreditreport.com. It’s wise to stagger the dates you check each report because irregularities might surface at different times of the year and you’ll catch them faster. You are entitled to one free credit report a year and you can sign up for them online at annualcreditreport.com.
Think about college aid
On Jan. 1, kids and parents can start working on the Free Application for Federal Student Aid (FAFSA) for the upcoming school year (2007/08). To meet deadlines in most states, you should submit your FAFSA no later than March 1, with February 15 being the optimal date.
Start your emergency fund
Experts believe you should have 3-6 months worth of living expenses set aside. Set a fixed amount you’ll save each month toward that goal.
February
Start pulling your tax information together
Your W2s and 1099s should be arriving – get your records ready to start your return. You might also get a ballpark estimate of your tax liability online.
March
Get ready to fund your IRAs
April 16 will be 2007’s tax deadline, and that’s the last date to make a tax-deductible contribution to your IRA. Plan to make the biggest affordable contribution you’re allowed.
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