Tips for Successful Personal Finances
As we get older one of the things that is always on my mind is retirement. What does it look like for me? Where do I want to live – stay where I am or move? Stay in my current house or downsize (maybe condo)? The list of questions goes on and on for me.
Wallet Hub has come out with a list of 2018 Best and Worst States to Retire To. Where is your state? This might be something to take into consideration in your planning.
Two weeks ago, we received our insurance renewals (auto, home and umbrella). They arrived on the day of the snowstorm. We lost phone, TV and internet, but not power. So I read the policy information more diligently than I usually would. (I am being honest).
I found a charge for $17.00 on the auto policy that I had questions about. I made a call last week and discussed this with the company and after a long conversation, she found $153.00 worth of savings (more than the $17). That’s a a little over a 12% savings on our policies and that much less that we have to pay in February.
What bill are you going to look into this week to see if you can save money? Check you bills and question what you don’t understand. You could save some money too!
You received my new format of a newsletter / blog combination on Friday. What did you like? What would you like to see that isn’t there? What would you change? Let me know your thoughts.
Happy New Year and welcome to 2018!
My goal for all aspects of my life for 2018 is to simplify. To start this goal off, I have changed up the Money Choices newsletter. Money Choice was a bi-weekly newsletter delivered to your inbox every other Friday. My blog was something that I posted other content to. For 2018, now they are one. You will receive my newsletter every Friday with all the blog posts of the week. I hope you enjoy.
What topics are you interested in? Let me know.
It’s the start of a new year and it’s time to revisit your finances. Take a look at your finances.
Here’s a great article from AARP’s give Yourself a Financial Checkup to see if you have a plan in place for these five areas. In addition, the article gives you suggestions to tackle this area of your life.
Welcome to 2019!
I hope you had a great holiday and are looking forward to another year beginning.
2018 was a challenging year. The Federal reserve raised interests rates four times – yikes! The stock market lost all of it’s gains for the year. What does that mean to you? Rising interest can mean larger monthly payments. Stock market loses could mean less money for retirement. Let’s talk about what rising interest rates means to your wallet.
Mortgages / Home Equity Lines
Do you have a fixed or variable interest rate on your mortgage? If you have a variable rate, that could mean your interest rate could go up. For an adjustable rate first mortgages, they typically change at a certain point (see you mortgage documents), but most home equity lines of credit change as interest rates change. High interest rates means larger payment is due. This might be the time to modify to refinance to a fixed rate.
Credit Cards
Most credit cards typically have variable interest rates. High interest means a larger minimum payment is due. If you carry a balance from month to month, you may want to transfer your debt to a zero or lower interest rate credit card while you are paying down your debt.
You never know what is going to happen, so you need to be prepared for whatever life throws at you. Be proactive and your debt paid off, so that interest rate hikes won’t hurt your finances.
Turn this year’s holiday cards into next years gift tags. An easy way to save money (and recycle / re purpose too)! Just cut out your favorite design. Then when you need a gift tag, just write your message on the back side.
Happy New Year and welcome to 2018!
The reality of January has arrived, bills from the holidays are coming in, it’s cold outside and you have set your 2018 goals. If one of your goals is to budget your money, then here are some tips that might help you stay on track.
Check out this great article by the Daily Worth about budgeting.
I hope you enjoyed your holidays.
Now back to finances.
You may want to consider these steps and do them in this calendar year:
These two steps may work to your advantage with your income tax. Always check with your tax preparer about your individual situation.
With vacation season underway, are you covered if something happens?
According to Wallet Hub, 1 in 6 Americans have an illness or natural disaster happen to them. Are you covered so that you don’t lose you hard earned money? Of these 1 in 6, only 22% have insurance to cover their travel costs and expenses.
Some credit cards offer you coverage for lost or delayed luggage, missed connections, trip cancellations and even death sometimes. All credit cards are different and you need to check your individual card for what your offers you. If you are covered, they offer you reimbursements. That means that you pay upfront. Do you have that money? And they come with restrictions. Remember my Microsoft Surface Pro experience from last fall?
We have one credit card that we always use to rent a car. It gives us coverage so that we can decline the optional rental car company insurances and feel comfortable. We have another credit card that gives us the travel protection of lost or delayed luggage, missed connections, etc. We have done the research for us and you should too.
You should think about what you may need and find out if you are covered with the credit card you already have. Typically, if you don’t charge the trip to that specific credit card, you don’t have the coverage. Then check with your personal insurance, such as auto insurance for rental car coverage, home owners / renter’s for loss of property, etc. Then look into travel insurance, if you need or want more or additional coverage.
You should do this process for your health insurance as well. Most insurance policies don’t cover you when you travel outside the US. All of this pre-planning could offer you the needed assistance in your time of need. So do your research and make the choices that are right for you.
Happy Travels!