Make Sure You Mark These ESSENTIAL Finance Dates on Your 2021 Calendar
- Author: Bryan Miller
- Posted: 2024-08-01
The new year is the perfect time to get your personal finances in order. One of the most important things you can do to manage your finances is simply quit procrastinating. By getting organized and reminding yourself of important timelines, you can avoid missing out on anything important.
February 1
Want to save more money? Frugal February is a popular challenge you might want to consider starting soon. The idea is essentially just being extra careful during the shortest month of the year. Tracking your expenses, avoiding any unnecessary bills, and prioritizing saving for a month can help you start the new year out right.
February 5
By this date, you should have all your essential tax forms, like your W-2s, 1099s, or interest and dividend statements. Keep an eye out for them in the mail and make sure you file them somewhere safely. If you do not receive the documents by this date, contact your employers or clients to ask about them. This will give everyone enough time to send you anything you need for filing your taxes.
March 31
If you are eligible for Medicare, pay close attention to this date. March 31 is the last date you have to enroll in Medicare for 2021. If you miss this date, you may end up with a dangerous gap in your healthcare coverage. You also risk paying more in premiums if you miss this important Medicare deadline.
April 15
If you forget all the other dates on this list, April 15 is the one you should remember. If you cannot file your taxes by this date, you need to at least file an extension request. Missing it could lead to massive fines or even jail time. This date is more than just the deadline for filing your 2020 taxes with the IRS. It is also the deadline for contributing to your health savings plan and your individual retirement account.
April 22
April 22 is national Teach Children to Save Day. For any parents, this is an excellent opportunity to sit down and chat with children about smart financial decisions. Teaching good habits now can set your children up for a lifetime of financial security.
June 30
High school students, college students, and parents need to make a big note of this date. June 30 is the deadline for applying for federal student aid. To be eligible for help with school expenses, people need to file their FAFSA form by midnight on June 30. The good news is that your form doesn't have to be 100 percent complete. You will have until September 11 to file corrections and updates.
July 1
At the official halfway point for 2021, it is a good idea to take a close look at your finances. Add up your gains and expenses to see how much you are saving. This can help you see if you are on track to meet your financial goals. If you find you are struggling, you will still have half a year left to make adjustments and get back on track.
October 1
This is another date that will be important for students. October 1 is the first date students can submit their FAFSA form for the 2022 school year. Going ahead and doing it now will ensure that students get essential federal aid for college expenses.
October 15
This date is important for a few different reasons. First of all, it is the date Medicare open enrollment starts. If you want to make any changes to your 2022 coverage, go ahead and do so now. October 15 is also the deadline for filing taxes if you asked for an extension earlier in the year.
November 1
For those who get their healthcare through the federal health insurance marketplace, November 1 is the date enrollment starts. Going ahead and applying for coverage now will ensure you don't end up with dangerous gaps in your healthcare coverage.
December 31
As the last day of the year, this is your last chance to make any financial decisions for 2021. Donating to charity, adding more funds to your 401K, or spending money on business expenses now will end up having big implications for your 2021 taxes.
