September brings about the annual back-to-school and off-to-college rituals for many families. Of course that translates directly to the wallet — think, lunch money, SAT test fees and other costs.
The coming month is also notable because federal health care reform will begin to take effect. For starters, adult children will be allowed to stay on a parent’s insurance policy until age 26, an important money-saver for many households. But don’t forget to plan for some fall fun. Maybe you’ll want to head to a national park or plan a fall foliage excursion to allay stress.
Here are some dates worth considering as part of a financial action plan:
SEPTEMBER
10: The registration deadline for students taking the Oct. 9, SAT exam. A fee of $47 is required. A late fee of $24 applies for registrations received on Sept. 24 or after. For details visit: http://sat.collegeboard.com/register/sat-dates.
15: Self-employed individuals and other taxpayers who file estimated taxes must have filed their third-quarter payments.
23: Health care reform means young adults can now obtain coverage under their parents’ health insurance until age 26. For details see a Department of Labor fact sheet at: http://tinyurl.com/35suwgu.
25: More than 100 national parks offer free entrance and other promotions. For a list of participating parks by state, visit: http://www.nps.gov/findapark/feefreeparksbystate.htm.
30: Eligible taxpayers who contracted to buy a home before the end of April, qualifying for the first-time homebuyer tax credit, must have closed on their purchase.
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Also keep in mind:
—Small business owners wanting to start a SIMPLE IRA retirement plan this year must open the account by Oct. 1.
— Is your fall wardrobe up to snuff? Be on the look out for Labor Day sales.
— Parents of a high school senior should make sure their kid’s resume is up to date. It will be essential in the college application process.
— Parents looking for healthy, budget conscious brown bag ideas should tap the Internet. Google “school lunch ideas” and you’ll find any number of resources.
— Besides expressing their appreciation, families may want to use Grandparents Day on Sept. 12 as a reminder to have a conversation about a financial plan. Do your grandparents need help tracking their household expenses? If a friend or family can’t help, consider hiring someone to help manage their day-to-day expenses.
— The first day of fall is Sept. 22, but it’s not too early to plan a fall foliage excursion. Fodor’s offers guidance on fall foliage tours in various parts of the country.
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