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New Look At Your Finances

New Look At Your Finances

January 01, 2024

The most important thing is to make sure you feel like you have the cashflow you need to do the things you want to do. So, let’s set some goals this year to build on last year’s progress and make this year the best year ever!

Keep money in YOUR pocket! Credit cards definitely have a role to play, particularly for unexpectedly large expenses. If you carried a balance over a few months last year before paying it off (or are still carrying a balance), make it your goal this year to zero your credit cards out each month! Remember: interest accrues throughout the month for many lenders – don’t pay charges you don’t have to!

Plan for the future. The best financial planning considers your future. For example, are there any big expenses coming down the pipeline — tuition needs, vacation plans, or major home repairs, perhaps — that you’ll need to pay for? Let’s make sure your financial plan reflects any of these expenses.

Got everything squared away? The new year is a perfect time to take a moment to review beneficiaries. In many cases, beneficiaries and addresses can be easily updated online with just a few clicks. Sometimes, you may need to fill out a form – see if it can’t be done using a PDF! This is a simple but very important step. If it’s been a while, you may be surprised to see who you listed!

Take the next step. Be honest: when was the last time you updated your will? What about trusts or other legal properties? These documents are critical estate planning tools that can really put your mind at ease. Sure, there’s some time and usually some cost associated with reviewing everything – including a potential meeting with an estate planning attorney, depending on the complexity of your situation – but it’s worth every penny should anything happen!

By working together, we can make this the best year yet. Contact our office to schedule a time to review your financial plan now!