How to Get Your Financial House in Order
Are you planning to spend your money more wisely in the coming months? With every year come additional responsibilities, so it’s best to make sure you’re doing everything you can to get ahold of your finances and maximize your spending. Today is your chance to start anew by saving on home-related costs, adjusting your budget, and more to secure your financial future and avoid surprises down the road.
Here are 11 ways to get your financial house in order this year to save money and live better.
~Save on Utilities. Upgrading your appliances and making energy-efficient home improvements saves a lot of money on utility bills over time.
~Pay Off Debt. Paying off debt through extra payments on your mortgage, student loans and more keeps your interest rates from increasing and leads to big savings throughout the decades.
~Revise Your Estate Plan. Revising your estate plan when big changes occur in your life ensures your affairs are in order and you’re prepared for the future.
~Create an Emergency Savings Account. Creating an emergency savings account is an effective way to prepare for unexpected expenses and avoid going in debt.
~Maintain Good Credit. Maintaining good credit gives you more flexibility when you commit to buying things like houses, cars and more.
~Plan for Retirement. Planning for retirement by contributing more money to your retirement savings every week, month or year ensures you don’t go without later on.
~Monitor Your Income. Monitoring your income and seizing opportunities for small raises and added savings help you optimize every stage in your career.
~Establish an Investment Account. Establishing an investment account to make the most of your extra income can come in handy down the road if you invest wisely.
~Prepare for College. Preparing for college by saving adequate funds to cover tuition, housing, books and more lessens the burden of paying for higher education.
~Focus on Saving This Year. Focusing on saving more this year than you did in 2016 is a great exercise for adjusting your savings according to your lifestyle changes.
~Revisit Your Budget. Revisiting your budget toward the beginning and end of every year gives you a good understanding of where you stand financially.
These 11 ways to get your financial house in order this year offer different routes to cutting back on unnecessary spending and ensuring a promising financial future.
Whether you’ve taken on extra money-related commitments this year or you’re focused on doing better overall, there are things you can do to spend money thoughtfully and handle your expenses more carefully. Please call me about any home-related issues I can help you with.
Powered by HomeActions for Laura S. Rossinow, Broker, Keller Williams Realty, Newton, MA