Top 6 Financial Tasks To Complete By Summer's End

Here are six tasks we highly suggest completing in the next couple months to get your financial house in order.....

1.   Review Home Loan
There are many reasons to review your home loan. Questions to consider: Can you get rid of mortgage insurance on your current loan? Can you shorten your loan term without increasing the payment? Do you have the best interest rate available for your situation? Does it make sense to move from an adjustable rate loan to fixed loan?

2.   Prepare Will/Living Trust
Do NOT delay on this one any longer, especially if you own a home or have kids. Here’s an article we wrote on reasons people get a Trust - click here

3.   Follow Spending Plan
It’s important to budget, but it’s even more important that you actually follow the budget. A working Spending Plan will ensure your money flows according to your wishes. We have a financial coaching program that can help.

4.   Acquire Life Insurance
Does anyone depend on your ability to earn an income? Would anybody face financial hardship if you passed away? If the answer to either of the previous questions is “yes”, then you would be well served looking into a life insurance policy. There are very inexpensive term options available.

5.   Procure Disability Insurance
How would you pay the bills if you suddenly became disabled and could no longer earn an income? Most likely, social security disability benefits won’t be enough. So if your employer doesn’t carry worker’s compensation benefits, you may want to dive further into this.

6.   Maintain Adequate Health Insurance
Medical bills resulting from Injury and illness are among the top causes of bankruptcy. In addition, the government now requires you have health insurance, or you may face a financial penalty.

If you have questions on any of the above, please feel free to contact us...we’re happy to review your specific situation and help in any way we can!