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Tag: Will

Financial Tips

Posted on by djbechard

Plan tax refund dollars.  Make a plan for tax refund dollars before they hit your bank account.  Some options to consider as you make your plan include:

  • Pay down debt
  • Build your savings
  • Jump-start a financial goal
  • Give to someone in need
  • Invest

Create your will. There are many free or inexpensive forms available online that can guide you through creating a will. Your employer may also provide access to legal services. If you use an online form, make sure it is specific to your state.

Put 5% of your tax refund into your savings or emergency fund account. If you won’t receive a tax refund, add at least $5 extra to your savings or emergency fund this month. Small amounts add up over time.

Become financially confident.   Financial confidence is the intersection of building a savings habit, knowing what resources you have available to support your financial stability, and taking advantage of those resources as needed.  Financial confidence recognizes that Savers have unique circumstances, and even if you are in a scenario that makes it difficult or impossible to save at this moment — you are committed to doing the work, taking control of your finances, and becoming more financially stable.

By: Brenda Langdon

Financial Wellness Tips

Posted on by djbechard

Pay extra on a credit card balance this month. If you have been carrying a balance, make a plan to pay extra each month so that you can pay off the entire card.

Reflect and write down three money memories from your childhood. Write down a few of your very first money experiences and how they impacted your actions with money as an adult. This can help you come to a greater understanding of why you manage money the way you do.

Have you updated your will? Set a time to review/create your will. Include your spouse or partner if applicable. If you don’t already have one, start gathering the necessary financial documents to meet with an attorney so you can get a will in place. If you have a will and you have experienced any life changes in your family such as a birth, death, marriage, or divorce it may be a good time to evaluate your will and see if any updates need to be made.

Review your insurance.  Make sure that your insurance covers what you need it to cover, your  belongings, out buildings, equipment etc.  If you have a disaster, be sure that you have the insurance to cover it.  If you are a renter, it is highly encouraged to have renters insurance.

Do a home inventory.  Should you have a fire or tornado and lose everything, could you track all the items in your home?  Having a home inventory, will make the process less stressful.

By: Brenda Langdon