March is a great month. For college basketball fans, this is when the madness begins. March is also when we start to see some warmer days, reminding us that winter is on its way out. If you don’t like basketball or warmer weather, it is also a month when you can make some smart money moves.
Here are four smart money moves for you to make this month:
1. Finish your taxes.
February was the month to gather all your tax information. March is the month to do your taxes. Yes, the deadline is in April, but doing your taxes in March will provide you some cushion just in case you run into any unforeseen challenges with your taxes. So, go ahead and set a personal deadline for your taxes to be completed this month.
2. Submit for 2022 FSA reimbursements.
Many flexible spending accounts (FSA) allow participants to submit for reimbursement up to 90 days after the deadline. If your account provides a 90-day grace period, review your 2022 eligible expenses, and make sure all have been submitted for reimbursement. Do not leave money on the table.
3. Plan your summer activities.
Last month, we encouraged you to start planning and saving for your vacations. This month, consider your summer activities. These may include camps for your children, a visit to the zoo, a day trip to a small town you’ve wanted to visit, a trail you have wanted to hike, or even volunteer service opportunities. If finances are tight, focus on cost-friendly activities. Plan these activities now and get them on the calendar. Don’t wait until June to ask, “What do you want to do this summer?”
4. Ask God to reveal any area of your finances that is not surrendered to Him.
God is the owner, and we are the managers. But we will regularly find ourselves acting as if we are the owner in various areas of our finances. Sometimes, the area is not so obvious. So, spend some time in prayer, asking Him to reveal areas where you still act like the owner. When He impresses on you where your finances are not submitted to His plans and purpose, ask for forgiveness, knowing that He is ready to forgive. Then with open hands, move forward as His manager.
Enjoy the warmer days, college basketball madness (Go Kentucky Wildcats!), and a few smart money moves this month.