59% of Americans have resolved to focus on bettering their finances this year—especially when it comes to saving.1 If you’re one of them, we’re here to help with this 2024 finance calendar. Here are some financial topics by month to help you reach your financial goals in 2024.
Your 2024 Finance Calendar
January: Create (and stick to) a budget.
At first, creating a budget may seem elementary. But a budget is one of the most beneficial ways to get back in the driver’s seat of your finances. When you feel like your paycheck isn’t stretching as far as it needs to, a budget can help you plan out every dollar and keep your spending in check.
February: Keep track of your expenses.
Now that you’ve created your budget, it’s time to track your spending. Tracking will allow you to “get under the hood” of your spending habits, find the problem (if any), and work toward a solution. Are you living below your means or have your expenses pushed you into the red? Are you busting the budget regularly in one column? By creating a regular budget (and sticking to it), you’ll have a better grasp of your spending habits and learn how you can do better.
March: Save for emergencies.
An emergency fund can be a huge source of peace for when life “happens” unexpectedly. Tires inevitably get a nail in them, a pipe springs a leak, or your spouse gets laid off. These situations are never planned for, but that doesn’t mean you have to be unprepared. A good rule of thumb is to save three to six months of expenses.
April: File your taxes.
Uncle Sam will be expecting you to file your taxes on April 15, 2024. You can always file early, and if you’ve got a complicated tax situation, you can always file for an extension. A tax professional can help you get the most out of your return, sort out complicated situations, and help you strategize for the years ahead.
May: Create a sinking fund for something fun.
A sinking fund is a great way to save up for Christmas gifts, vacations, parties, and more. When you create a sinking fund, you’ll determine how much money you’ll need (and when you need it by), and work backward from there. Divide the total amount by how many months you have to reach your goal. That number is how much you want to set aside monthly.
June: Work with a financial advisor.
A financial advisor is one of the most beneficial people you can have on your financial team. This person can help you dream big about your financial future, help you build a solid financial foundation (no matter your starting point), and be a great source of accountability along the way. Contact a SageSpring financial advisor in your area, and let us help you plan the financial future of your dreams.
July: Start planning your retirement.
It’s never too early to start planning for retirement. Whether you’re in your twenties and just getting started on your career journey or nearing the end of your career and hoping to retire well, we can help. Download our free retirement guide to get started and let us help you every step of the way.
August: Start investing.
Now that you’ve started dreaming about your retirement, it’s time to start investing. If you’re just getting started and have no idea where to start, we’d love to help. Reach out to your financial advisor—they can help educate you, create a plan, and get you started on your investing journey.
September: Create a will, estate plan, or legacy fund.
A will is one of the most important documents you can create. Not only does it help give your family peace once you’re gone, but it will also help them know exactly what you’re wishes are for your estate. Having an estate plan, a will, and even a legacy fund can provide for your loved ones from your estate long after you’re gone.
October: Check in on your money goals.
What’s the point of having money goals if you’re not going to check in on them? This month, do a financial audit. How are you doing on your 2024 financial goals? Take a look at how far you’ve come, and what goals you have yet to reach, and recommit yourself to reaching them.
November: Utilize your FSA savings before they expire.
Your FSA isn’t free money, but it is tax-free money. Using these funds on things like medical bills and more will help you keep your money where it belongs (in your bank account). Make sure to use your funds before they expire, as they don’t roll over into the new year.
December: Prioritize giving.
You can make a big difference in your community through charitable giving. Chat with your financial advisor to set up donor-advised funds. You’ll love the difference you can make with your giving in the year to come.
One of the best gifts you can give yourself this year is the gift of financial independence. Contact a SageSpring Wealth Partner to learn more about how you can build a strong financial foundation and work towards the future of your dreams.
