Lesson 50: Financial Tasks for December
Being fiscally responsible and living the Cheapskates way doesn't mean you have to turn into a Scrooge. But you can change the way you live and the way you treat money (because this year you've learned to control your money, not have it control you). You have learned that you can celebrate and still be financially responsible. You've learned to make different choices in your spending. And you can be a glowing example to your family, friends and colleagues.
It's OK to spend and celebrate, when you do it with a plan. Last month you laid the groundwork for your Cheapskates Style Christmas. Now it's December, and 2012 is coming to an end. It's time to do a little end of year financial housekeeping so you start 2013 off in front.
Getting the Books in Order
This month a few financial tasks require your attention. Most of them are just housekeeping, but doing them now will make the end of the financial year a lot easier. Many of these tasks have been covered throughout the year, but this week we'll go over them again, as a mini end of year tidy-up if you like.
Reviewing Taxes and Deductions
At the end of June, in the tax time frenzy, it is easy to overlook tax deductions because you haven't kept consistent records. Get your receipts for your deductions and make sure they are in order and legitimate claims. File them! Each one may only be a small saving, but the total could make a significant difference come June 30.
Review your investment portfolio to make sure everything is in balance.
Pay all your medical expenses for the year. If you have registered for the PBS Safety Net, and haven't yet reached the limit, check to see what prescriptions you need in the next couple of months and if they will get you to the limit. It may be worthwhile getting January's scripts filled early if it means you get them cheaper or even free.
Double check your superannuation contributions and make sure you'll be able to get full advantage of any co-payments available to you.
Stay on the Ball
This past year you've been on a long and steep learning curve. You've gone to places well out of your comfort zone when it comes to being financially savvy. I know this is a busy week, it's tough to find time for every day chores, let alone a spare hour to go over your finances, but I promise it will be worthwhile. Just because it's almost Christmas, let's not lose momentum.
Lesson 50 Challenge: This week open your heart more often than you open your purse. Remember that having money certainly can make life easier, but it doesn't necessarily make it happier. True joy comes from relationships. Who, at the end of today, will smile and be grateful they met you? Say something nice to the harried girl on the checkout. Let the stressed young mother go ahead of you in the line at the post office. Open a door for someone loaded down with parcels. Take a tray of homemade goodies and leave them on a neighbour's doorstep. Kindness and grace are free, spread them as much as you can.
It's OK to spend and celebrate, when you do it with a plan. Last month you laid the groundwork for your Cheapskates Style Christmas. Now it's December, and 2012 is coming to an end. It's time to do a little end of year financial housekeeping so you start 2013 off in front.
Getting the Books in Order
This month a few financial tasks require your attention. Most of them are just housekeeping, but doing them now will make the end of the financial year a lot easier. Many of these tasks have been covered throughout the year, but this week we'll go over them again, as a mini end of year tidy-up if you like.
Reviewing Taxes and Deductions
At the end of June, in the tax time frenzy, it is easy to overlook tax deductions because you haven't kept consistent records. Get your receipts for your deductions and make sure they are in order and legitimate claims. File them! Each one may only be a small saving, but the total could make a significant difference come June 30.
Review your investment portfolio to make sure everything is in balance.
Pay all your medical expenses for the year. If you have registered for the PBS Safety Net, and haven't yet reached the limit, check to see what prescriptions you need in the next couple of months and if they will get you to the limit. It may be worthwhile getting January's scripts filled early if it means you get them cheaper or even free.
Double check your superannuation contributions and make sure you'll be able to get full advantage of any co-payments available to you.
Stay on the Ball
This past year you've been on a long and steep learning curve. You've gone to places well out of your comfort zone when it comes to being financially savvy. I know this is a busy week, it's tough to find time for every day chores, let alone a spare hour to go over your finances, but I promise it will be worthwhile. Just because it's almost Christmas, let's not lose momentum.
Lesson 50 Challenge: This week open your heart more often than you open your purse. Remember that having money certainly can make life easier, but it doesn't necessarily make it happier. True joy comes from relationships. Who, at the end of today, will smile and be grateful they met you? Say something nice to the harried girl on the checkout. Let the stressed young mother go ahead of you in the line at the post office. Open a door for someone loaded down with parcels. Take a tray of homemade goodies and leave them on a neighbour's doorstep. Kindness and grace are free, spread them as much as you can.