Best way to update individual users once per month?

I suspect the answer is Scheduled Tasks but I haven't used them much so want to confirm.

I need to perform some actions once per month on every user - on their signup date. Ideally, at the exact time that they signed up. So if a user signed up on January 4th at 2:39pm, every month on the 4th at 2:39pm, I would like to take certain actions on their account. And the same for every user in the DB.

Is that something Scheduled Tasks are for? Or what would be the best way to solve that?

Thanks