Throughout the year, there are a variety of steps you can take to pocket some extra cash, whether it's booking airline tickets a month in advance or setting aside tax-free wages to pay for health care costs. In many cases, these are actions that can result in ongoing savings that add up over time.
The problem is that these moves typically require a degree of planning, even if only a minimal amount. And when you're juggling work and the daily tasks of life, such opportunities have a way of sitting on the backburner until it's too late to act.
To ward off another year of missed chances, below is a guide of simple money-saving moves you can make each month in the year ahead. Scan through it now to see whether there are any particular dates or actions you want to flag, and keep the list handy as a reference.
You may discover you've been leaving free money on the table for years.
January
DEBT: It's a perennial New Year's resolution, but there's extra incentive to pay down your debt right now. Cash still isn't earning much interest sitting in deposit accounts, with the average rate for a one-year CD clocking in at just 0.35 percent, according to Bankrate.com. So if you're sitting on any extra savings, consider using it to knock off any accumulating credit card debt.
TAXES: To make the most of your taxes, designate an office folder or kitchen drawer where you can keep receipts and other necessary paperwork. A common roadblock when filing returns is a lack of documents to claim deductions.
COLLEGE: Families with college-bound kids will want to get their taxes squared away early. The income and asset figures from the returns will be needed to fill out the Free Application for Federal Student Aid, which should be completed as soon as possible after Jan. 1. An early application improves the chances of receiving aid from multiple sources. To fill out the form, go to www.fafsa.ed.gov .
February
SPENDING: Flowers can become a big part of your valentines day flowers delivery spending, especially if you procrastinate. If you plan on sending a bouquet, start browsing websites early to avoid inflated delivery charges on last-minute orders.
CREDIT CARDS: Sweeping credit card reforms have banned a number of misleading billing practices. But the new rules don't set guidelines on rewards programs, which cardholders often fail to use to their full potential. Take a few minutes to understand the caps, expiration dates and redemption process of your program; a few tweaks to your spending habits could boost the cash back rewards or points that you earn.
ENTERTAINMENT: If you realize you haven't seen any of the Oscar nominated films even though you've been paying for premium channels, it might be time to trim your cable package. The trial offers you were given when first signing up may also have expired.
ENTERTAINMENT: While you're at it, commit to a cap on how much you'll spend on online entertainment each month. It's easy to lose sight of how much you're spending when all you have to do is click "buy."
March
TRAVEL: If you're planning a spring break, remember that the best time to book a flight is four to six weeks before traveling; prices for any given flight are generally highest in the few weeks just before and after that time frame. Airlines also offer the most sales on Tuesdays, Wednesdays and Thursdays.
SPENDING: As you store away your cold-weather gear, make a list of any items that need to be replaced for next winter. Then hit the clearance sales — and avoid impulse buys by shopping only for items on your list.
April
TAXES: Don't panic if you haven't filed your taxes yet. You have until October if you file for an extension, but you'll need to pay any taxes that are due.
BANKING: In honor of Earth Day, check to see if you can save a few bucks by opting for e-statements. The monthly service fee for a basic checking account at U.S. Bank, for example, is $6.95 when customers opt for e-statements. If customers opt for paper statements, however, their monthly fee is $8.95. And while you're making tweaks to your bank account, consider setting up automatic bill pay to guard against late fees.
May
SPENDING: If you're dining out on Mother's Day, go online to see if there are any deals available at your mom's favorite restaurants. Start with sites such as BiteHunter.com and Restaurant.com; if your mom is a fast food junkie, try EatDrinkDeals.com.
HOME: Before the weather gets too hot, consider investing in a more efficient air conditioner to save on energy costs. Keep in mind that getting a unit that's too powerful for the space you're cooling can be just as wasteful as getting one that's too weak. The recommended capacities for various room sizes can be found at www.energystar.gov.
COLLEGE: If you're the parent of a high school sophomore or junior, start planning a tour of college campuses this fall. Think about coordinating the visits with another trip and try to get in as many nearby campuses as possible to minimize travel costs.
June
SPENDING: If you have multiple wedding ceremonies to attend this summer, think about where you can cut corners. This could be as simple as limiting how much you spend on new clothes or teaming up with others to buy group presents.
HOME: It's National Homeownership Month and interest rates on mortgages should still be near record lows. If you're still not sure whether you're ready to become a homeowner, check out the renting versus buying calculator on the website of the Department of Housing and Urban Development.
HOME: Homeowners should check whether it's worth refinancing. The general rule of thumb is that the new rate should be at least about 1.5 percentage points below your current rate. Otherwise the closing costs may not make the savings worthwhile.
July
INVESTING: The mid-year checkup on your investment portfolio is even more critical in times of market volatility. You want to be sure that market gains and losses haven't knocked your mix of stocks, bonds and cash out of balance. If you don't have a financial planner, consider rebalancing with the help of an online portfolio tool such as Morningstar.com's Portfolio Manager or one offered by Quicken.com
HEALTHCARE: If you're inspired by the Olympics set to take place in London, check whether your employer offers any discounts for health club memberships or programs.
COLLEGE: This is the time of year that families apply for private student loans to bridge funding gaps for college. When evaluating the options, be sure you understand whether the loan has a variable interest rate and what the options would be if payments can't be honored. The rates and terms on
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