October is here which means autumn is upon us. As we transition from summer to fall, there are financial moves we can make as well. October marks the time of year when retailers have sales, and overall, it’s a good month to get your money in order and start getting financially prepared for the holiday season.
Here are some financial moves to consider this month:
1. Review your health insurance
On October 1st, open enrollment for employer health plans begin. If you’d like to make any changes to your current policy, now would be the time to do it.
Today is also the deadline for the new health insurance exchanges.
In addition, Americans can start signing up for Obamacare, beginning today. Health coverage starts January 1, 2014, and individuals can sign up online, by phone or in-person. Visit Healthcare.gov for more information.
2. Columbus Day Sales
Columbus Day is October 14 and the long weekend is yet another reason for retailers to promote new sales. There will be steep markdowns throughout the month on major appliances, furniture, and accessories.
3. Tax Extension Deadline
Today is the final deadline for self-employed persons or small employers to establish a SIMPLE-IRA for the year 2012.
Also, if you filed an extension for your income taxes, you must turn it in to the IRS by October 15.
If you filed for this extension you’ve had an extra six months to finish up your tax return, reduce penalties and had extra time to to fund a retirement program if you’re self-employed.
October 31st is Halloween, and to celebrate, people will be spending their money on candy, costumes and parties. Look for deals at places like CVS, Walmart and Target for candy and costumes. If you’re looking for party decorations and supplies, visit Party City or the dollar store. Another inexpensive option is Amazon.
With the holiday season fast approaching, you’ll want to book flights sooner than later. October is a great month for airline deals. The rates are no longer hiked up from the summer. Southwest, Virgin America and JetBlue are a few of the top airlines with decent discounts.