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Queen of Free: End of summer financial checklist

It's Aug. 1. Children are heading back to school, signaling that it's time to address some end-of-summer financial tasks.

INDIANAPOLIS — It's August. The weather is still hot, humid and summer-like.  But children are heading back to school - the first sign that fall and winter are just around the corner. This is the signal to address some end-of-summer financial tasks before the end of the end of the month.

Cherie Lowe, the Queen of Free, joined 13Sunrise on Sunday to help you stay ahead of a new set of bills heading into fall.

Hopefully, you've already budgeted for back-to-school clothes and you've been accumulating school supplies as you see them go on sale. But textbook fees, lunch money and PTO dues should now be going on a budget checklist of everything else you need for the new school year, according to Cherie's blog. Some schools require only a deposit at registration meaning you’ll want to be sure to either budget for or pay the full balance. Make a good note (preferably in your budgeting software) if you’ve purchased a yearbook. You may forget in the year to come.

You should also be shoring up the house and yard for the change of seasons. Look for clearance and end-of-summer sales on outdoor furniture. Your grill or lawn mower may have seen its last year. If you can, buy a new one now rather than wait for prices to go up next spring.

Clean out the freezer and pantry of any expired products to make room for some fresh garden harvest produce like dried herbs or canned vegetables to use this fall, and buy some extra packages of meat.

You may want to opt out of the Child Tax Credit if you have a child turning 18, got divorced, or went back to work after the pandemic. From now through December, you can go to the IRS portal and get it done. But you need to do that three days before the first Thursday of the month. In this case, that would be Monday Aug. 2 this month.

And, believe it or not, it's time to start planning and saving for holiday shopping!

Watch Cherie's full segment with 13News anchor Jalea Brooks in the video player.

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