Your New Year Financial Checklist

It’s a new year, which means new goals and fresh starts. Now is the perfect time to look through your financials, set some goals, and set yourself up for a successful 2019. Use the checklist below to audit your personal finances and get ready for a great year.

CHECK YOUR CREDIT REPORT.

You should be checking your credit report every four months to make sure nothing has significantly changed. Each major credit bureau gives you one free credit report per year, allowing you to get a free credit report every four months. Check for any mistakes on the report, and make sure that no unauthorized loans or cards have been taken out under your name.

REVIEW THE STATE OF YOUR LOANS.

Check over your loans to see how much is left on them. Are you in a position to pay a little bit more on certain loans to pay them off faster? Could you get a better rate on your car loan if you refinance it with us? Could you consolidate your credit card debt into a personal loan? Asking these questions once a year can save you time and money in the long run.

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CHECK YOUR BILLS TO MAKE SURE YOU AREN’T OVERPAYING.

Things like cell phone and cable bills tend to creep up over time with hidden fees. If you check over your bills and see that you are paying more than you used to, give the company a call to see if they can knock some money off of the bill.

REVISIT YOUR BUDGET.

Check over your budget and review how you would like to allocate your money and how you have historically allocated your money. Check to see if any categories need to be adjusted, or if there are any categories that can be eliminated completely, and that money put somewhere else. Your financial needs are constantly changing, so it is good to revisit your budget at least yearly to figure out how it needs to change to best suit your needs.

BEGIN ORGANIZING FOR TAX SEASON.

Tax season is fast approaching and getting organized now will help save you a lot of stress come April. Gather together all your necessary documents and get together the forms that you will need for taxes. Getting organized is the first step!

Rachel Morris