put it in the diary!

14 February, 2012

Key dates and milestones to keep on top of money in 2012. 

Check out our list of actions by month, to help you plan your financial year. Simply pop some dates in your diary and follow the plan below.

February - Getting set
(1) Set and clearly define your goals (if you haven't already) and design your plan of attack.

(2) Review your employment situation. Are you happy? Are you earning your potential? If not, put a plan in place with a timeline and actionable steps.

(3) Set up a system to manage your money: receipts; documentation for tax etc.. Check out the ms money financial organiser.

(4) Complete an assessment of your current financial position - how well tamed is your credit card? Is your current rate of savings going to ensure you reach your goal(s)? Are you on top of your debt?

March to July (and September / November)
Set a date in the diary to review your goals and achievements so far. Don't be stingy with the time you commit and try where possible to make sure you do a review at least once a month.

May and June
Now's the time to investigate if there's anything you can do to reduce your tax bill - i.e. deductible expenses, whether you should be making a controbution to your Super etc. 

August
Start getting ready for tax time. Consider the documentation you need to get together such as receipts, tax deductions, medical expenses etc. It might take a bit of time to collate everything ready for October, so make a start for a fuss-free and potentially more favourable tax time. 

September
Don't forget to keep your regular reviews up to date, as in March to July. With nine months of the year gone, you'll have a pretty clear idea about how you're tracking against the 2012 goals.

October 
The big day in October comes right at the end of the month - 31 October is TAX TIME. Starting in August gives you plenty of time to get organised, but if you haven't managed to fit it in, give yourself at least three weeks to get everything in order. 

December
Time to reflect on the year and take stock of your achievements; learn from the things you'd like to improve; put your feet up and start planning for 2013.