Stretch your Dollar: ‘May is for Money’: 5 financial steps to take this month

Stretch Your Dollar

May is for money! We are stretching your dollar with 5 financial steps from Money.com you don’t want to forget to take this month.

When you think of May, you think of the flowers and temperatures warming. But experts say you should also think, “May is for money.”

  1. The tax deadline is approaching, on May 17. Time to file and make any final contributions to your IRA & HSA.
  2. Book your summer travel. As life begins to get to normal, hotels and airlines are likely to drop many of the added perks and flexible booking policies they implemented at the height of the pandemic. In other words, things may get more expensive soon.
  3. Contribute to a college savings plan. May 29 is national 529 College Savings Day. Money.com says many states will offer incentives to enroll this month.
  4. Apply for a paycheck protection program loan or PPP loan if you haven’t already. The end of the month is likely to be the deadline that sticks with things getting back to normal.
  5. Budget for normalcy. Many employers are calling people back into the office come the fall. If your routine will be changing, ensure your bank account will be ready.

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