10 Fabulous Ideas for A Financially Boring New Year
Hello Friendos and Happy New Year!
I am kicking off a new year of Boring Newsletters with a list of 10 boring financial-type chores for your consideration. It’s nice to have these things handled and for your money matters to be boring.
Also, mark your calendar, next Saturday, January 10th, 11am ET, another installment of Tax Me Anything, my free monthly Zoom where you can drop in to chat about personal finance matters, taxes, or anything money-related on your mind. The Zoom meeting ID is 897 1710 3456.
For your consideration:
- IP PIN for taxes: Obtain an IP Pin for the upcoming tax season. The IRS website indicates this service is undergoing maintenance right now, but will be available on Jan 6th. I wrote about IP PINs last year and how they help foil someone who wants to steal your tax refund. Yes, it takes a few minutes each year to get this, but that’s a LOT less time then if you had to deal with tax fraud.
- FSA unspent funds: If you have an FSA with unspent funds from 2025, you should have a grace period before you lose that money. You earned that money and already allocated it to qualified medical expenses — find a use for those $ before your grace period expires! If your job offers an FSA but you don’t use it because it’s a lot to figure out, you should absolutely join one of my free Tax Me Anything sessions or book a coaching meeting with me so you take full advantage of this part of your compensation. Get all your money!
- Security freezes for credit reports: It is basic cyber crime self-defense to have a freeze in place at Equifax, Experian, and Transunion. You need a separate freeze at all 3 of these, one for you and if you have a partner, one for them too. I wrote about freezes here. You’re a nice person, maybe also help your family elders put security freezes in place!
- In-network providers: Before you go to medical appointments this year, check that your existing medical providers are still in-network with your medical insurance (or dental insurance, or vision insurance). Networks can change from one plan year to the next, and it can cost a bundle to go out of network. I just found out that one of my own providers is now out-of-network, so I guess I’ll block the day to find a new provider to try out. 😠
- Savings plan: Whether you are self-employed or earn W-2 income, it’s a great idea to make a 2026 savings plan (including what you’ll do with the $ you save, like paying off debt or investing it in a low cost, total market index fund). That could be targeting a certain $ amount to save or saving a certain % of your income – either way, there’s a method that can work for you. If you figure this out in advance, you don’t need to keep making decisions as you earn income throughout the year – you decide once and then you just default to your plan.
- Will: If you don’t estate planning documents in place (a will, medical power of attorney, and financial power of attorney), get those handled. It’s an act of love for people that you love.
- Account beneficiaries: Make sure your account beneficiaries are up to date. Did you get divorced, lose a loved one who had this role, or have any other life changes recently? You might need to update the beneficiaries on your financial accounts.
- Current driver’s license, passport: If you have a driver’s license and/or passport, check the expiration date. It’s usually a lot easier to renew these before they expire vs after, and may also be less expensive.
- Expiring food, medicine: Check your pantry and medicine cabinet for anything that is close to expiration. If an expiration date or “best by” date is approaching, prioritize that item so you can enjoy it at peak flavor/before it is unsafe to eat. Throwing away food is, sadly, like throwing away the money you spent to buy it. Expired medicine is not efficacious, so replace it while you are not in a hurry and avoid paying a premium at a convenience store or similarly expensive location when you fall ill.
- Gift cards: Did you receive any gift cards as holiday gifts? Use them as soon as you can! The longer you wait to use them, the more likely you are to misplace or forget about them. Get all your money!
Wishing you a happy and boring New Year,
-Stephanie
Frequently Taxed Questions 