- Days left

Important days for your finances in 2009

If you're anything like me, you have some trepidation that the New Year will swoop in and you'll miss some big financial deadline that will end up costing you a bundle. Thankfully there's Kiplinger's Save the Date guide to financial dates in 2009.

Some items won't apply to your situation, but what's important, however, is that you do take five minutes and figure out which of these tasks matter in your financial life.

Some of the prominent dates to remember:
  • January 1 and June 30th - The first and last days you can file your FAFSA application for federal aid.
  • January 15th - Estimated federal income tax due.
  • February 23rd -Get an accountant or buy tax prep software.
  • May 15th - Twenty-somethings prepare for wedding season.
  • May 25th - Check your stock value when the market is closed to prevent rash decisions.
  • November 9th - 1st payments due on student loans for May grads!
I can't stress enough the importance of remembering November 9th for college graduates and their parents. With student loan bills higher than some house payments, students who don't prepare for the end of deferment get hit hard! I don't have enough digits to count the fellow graduates who, even after exit loan interviews, didn't understand how much they would have to pay 6 months after graduation. Preparing for this date is an important way to start your post college life out on the right foot.

US Financial Crises

When the stock markets first reopened after the 9/11 attacks, how many points did the Dow Jones fall?

  • 584
  • 684
  • 784

In which year did Black Monday take place?

  • 1982
  • 1987
  • 1991

The Dow dropped by what percentage on Black Monday?

  • Nearly 3 percent
  • Nearly 13 percent
  • Nearly 23 percent

How much did the U.S. government pay for the bailout during the savings and loan crisis of the 1980s and 1990s?

  • $124 billion
  • $324 billion

When did the Great Depression start?

  • 1929
  • 1933
  • 1939

Many economists blame the Smoot-Hawley act for the severity of the Great Depression.

  • True
  • False

About how many years did the Depression last in the U.S.?

  • 5 years
  • 10 years

I do take issue with one other item relating to college graduates. As a recent graduate who is coming up on his 4th round of wedding season, I can assure you that unless you only hung out with devout bachelors and bachelorettes for the last 4 years, setting aside money in the middle of May won't cut it. Even though August was the most popular month to get married in 2005 I've seen the number of May weddings increasing steadily since graduation as couples try to avoid the need to live at home or keep two apartments. Take note of how many friends are already engaged before graduation and start budgeting for a gift early.

While you're adding these dates to your calendar or date book take a few minutes to look back on 2008. Where you late on any payments? Did you lose money or have to pay extra because you missed an important deadline? If you did, add that event to your calendar right now so it doesn't end up costing you again in 2009. Personally I have a recurring reminder to pay my estimated city income tax since it is due on, what are to me, odd quarterly dates and the city won't allow me to set up a recurring payment.

This calendar is definitely a great starting point to planning out important financial moves in the coming year even if it requires a bit of customizing. It also got me thinking about the year ahead and what we need to do to better our ability to get a house. Hopefully with the help of these tasks and some additional planning we'll be closing on a house by this time next year.

What dates are still missing from the list? Share them in the comments and help out your fellow WalletPop readers.


Increase your money and finance knowledge from home

Getting out of debt

Everyone hates debt. Get out of it.

View Course »

Basics Of The Stock Market

Stock Market 101 - everything you need to know but were afraid to ask!

View Course »

TurboTax Articles

5 Tax Tips for Single Moms

If you're a single mom filing your taxes, make use of tax credits and deductions that can help reduce your taxable income and reduce the amount of tax you pay. A number of strategies, credits and deductions can be used to reduce taxable income, and in some cases, allow tax refunds even if you didn't pay in any taxes. When you use TurboTax, we'll ask simple questions and handle these calculations for you.

Essential Tax Forms for the Affordable Care Act

The Affordable Care Act (ACA), also referred to as Obamacare, affects how millions of Americans will prepare their taxes in the new year. The law now includes penalties for all who haven?t obtained health insurance -- and those penalties are expected to be paid at tax time. The ACA also provides tax credits to help people pay for insurance, and you can claim those credits when you file your taxes. The Internal Revenue Service (IRS) has introduced a number of tax forms to accommodate the ACA.

What is Form 1095-A: Health Insurance Marketplace Statement

If you bought health insurance through one of the Health Care Exchanges, also known as Marketplaces, you will receive a Form 1095-A which provides information about your insurance policy, your premiums (the cost you pay for insurance) and the people in your household covered by the policy.

Keeping Yourself Safe From Tax Scams Today

During tax time, there are numerous types of tax scams. These illegal schemes can result in the taxpayer being responsible for extra interest, penalties and possible criminal prosecution. Tax schemes and scams attempt to gain access to your financial information by email, telephone, fax or mail. They also may attempt to falsely collect tax you owe to the Internal Revenue Service. Using TurboTax ensures your financial information remains safe.

Health Care and Your Taxes: What's the Connection?

Your cost for Marketplace health insurance is based on the income you file on your tax return. Your reported income also determines your eligibility for the tax credits and penalties associated with Marketplace health coverage. Everyone has to have health insurance and by filing your taxes, you let the government know if you carry health insurance. The tax system acts as a way for the government to levy a penalty on those who don?t have it and to provide assistance, by means of a tax credit, to those who do.

Add a Comment

*0 / 3000 Character Maximum