Your Financial Checklist for September

September is here, which means it’s time to start thinking about your financial goals and ensuring your money matters are in order. As the summer months wind down, it’s the perfect opportunity to revisit your financial plan, set new goals, and make sure you’re on track to achieve them. Here’s a financial checklist to help you navigate the financial waters this September:

1. Check Your Student Loan Portal: If you have student loans, you may have enjoyed a few years of reprieve thanks to the pandemic-related pause. However, as of this month, interest has resumed on federal student loans. It’s crucial to check your student loan portal to confirm and understand your liability beginning next month. This change could impact your monthly payments and the overall cost of your loans.

2. Benchmark Your 2023 Goals: At the beginning of the year, you likely set financial goals for yourself. Now is the time to revisit those goals and assess your progress. Take a moment to reflect on what you wanted to achieve in 2023, whether it was saving for a major purchase, paying down debt, or investing for the future. Evaluate where you stand in relation to those objectives and make any necessary adjustments. If you’ve met some of your goals, celebrate your accomplishments, and if you’re falling short, identify the steps needed to get back on track.

3. Review Your Retirement Contributions: Your retirement savings are a critical part of your financial future. September is an excellent time to review your retirement accounts and contributions. Are you on track to max out your contributions for the year? If not, consider increasing your contributions to take full advantage of tax-advantaged retirement account. Did you increase your contribution from last year to account for the increase in contribution limit, which is $22,500 and $30,000 for those 50 and older. Ensure your investment allocations align with your long-term goals, and if necessary, consult with a financial advisor to fine-tune your retirement strategy.

4. Revisit Your Cash Flows and Budget: As we transition from summer to fall, your expenses and financial priorities may change. Take a closer look at your cash flows and budget to ensure they reflect your current situation. Are there any upcoming expenses you need to plan for, such as back-to-school costs, holiday expenses, or home maintenance? Adjust your budget accordingly to accommodate these changes. Reevaluating your budget can help you stay in control of your finances and avoid any unexpected financial stress.

Bonus Tip: Consider Tax Planning Though tax season is still a few months away, proactive tax planning can save you money in the long run. Review your tax situation and look for opportunities to optimize your tax strategy. This might include taking advantage of tax deductions, tax credits, or making smart investment decisions with tax implications in mind. Consult with a tax professional or financial advisor to explore potential tax-saving strategies.

In conclusion, September is a prime time to get your finances back on track after the summer months. By following this financial checklist, you’ll be better prepared to tackle the rest of the year with confidence and ensure that you’re making the most of your financial resources. Remember that financial planning is an ongoing process, and regular check-ins like this one can help you achieve your short-term and long-term financial goals. If you have any questions or are seeking financial advice in your fall financial check-up, email us at or schedule a complimentary intro call here.

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