Living Grand: Getting Your Financial Life In Order, Winter To-Do's

The mere mention of finances makes many of us cringe. It can be daunting, but here are some simple steps that can make it easier to deal with. Every season, we'll bring you the top to-dos to get your financial life in order. Winter is closing in, but that doesn't mean you can hibernate, your winter finances need to stay just as warm as you do.

Here are the key items on your winter to-do list: 

     

Reassess your budget - Deadline, December 15. Remember our lives are continuously changing, just like we change our hair, make-up  and the company we keep,  we should re-evaluate our lifestyle and make sure we are sticking to our budget and if not create a new one.

Check Credit Score - Deadline, December 15. Reasons for this should be obvious especially given today’s climate of identity theft. You especially want to stay on top of this if you are in the market for big ticket purchases like a car or home.

Look closely at your bills – Deadline, December 15. Know what you are spending on cable, cell phone and other utilities. Check with your carriers and providers to see if there are any specials you may be entitled to, even if it is for a short period of time. If you are able to save $15 a month on your cable bill over a 6 months period; that translates into a $75.00 savings. Remember most providers are not automatically going to give you the discount, they are in the business of making money and you should be in the business of keeping yours.

Max out your Retirement account – Deadline, December 22. Make sure you are getting the most out of your 401(k) by contributing the maximum which is $16,500 for 2011 and for those of you over the age of 50 the catch-up contribution remains the same plus an additional $5,500. If your employer matches your contribution, well this is just free money honey.  Your ultimate goal should be to have as large a nest as possible.

Compare your interest rates – Deadline, January 1. Interest rates are constantly changing, so make sure you are getting the best value by comparing your savings account to the competition. The same goes for credit cards, if your APR goes up call the company and see if they will lower it.

Organize Tax Forms – Deadline, January 17. Keep all your forms (W-2, 1099s and anything else that shows up) that are mailed to you in a safe place. This is also the perfect time to organize all receipts and any other paper work you will need to file your taxes. And as we all know the date we dread for taxes to be filed is April 15th.
Remember honeys, this is your financial health, the best way to become savvy is to educate yourself the same way you do in other aspects of your life. None of us are born money gurus but with a little time and a wealth of information just a click away on the world wide web we can all be one step closer to really  “LIVING GRAND”.

~ Eslyn

For questions or topics you would like me to write about email me at eslyn@grandlifedaily.com.