Financial February

Financial February

Financial February

Here are some steps to jump-start your Financial February on the right foot.

Focus on Your Taxes

Tax season is underway as millions of Americans are getting their documents together to file for their tax refunds. The Internal Revenue Service (IRS) is encouraging people to file their taxes sooner rather than later. Filing early can be a good idea even if you owe money to the IRS because you’ll give yourself more time to figure out how to pay the amount you owe.

The filing deadline to submit 2021 tax returns or an extension to file and pay the tax owed is Monday, April 18, 2022, for most taxpayers. Taxpayers requesting an extension will have until Monday, October 17, 2022, to file.

Check Your Credit Score

Checking your credit history and credit scores can help you better understand your current credit position. Regularly checking your credit reports can help you be aware of what lenders see and also help you detect any inaccurate or incomplete information.

You're entitled to one free copy of your credit report every 12 months from each of the three nationwide credit reporting companies. Order online from annualcreditreport.com, the only authorized website for free credit reports, or call 1-877-322-8228.

Curb Inflation by Spending Less 

Inflation is at an all-time high and if you haven’t yet taken a close look into your spending habits, it's a great place to start. Obvious places to cut are eating out, streaming services, and unnecessary subscriptions. Other things to consider may be the food selections that you pick at the store or the store you shop at all together.

Pay Down Accumulated Debt from 2021

Because of rising interest rates, it’s becoming more expensive to carry credit card debt. If you haven’t paid off your accumulated debt, it's a good idea to do so as quickly as possible. 

This is for informational purposes only. Investment advisory services offered through Cornerstone Wealth Group, LLC dba Cornerstone Wealth, an SEC-registered investment adviser.

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