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Streamline your banking.
Sign up for direct deposit, switch to automatic online bill pay
and sign up for e-statements to reduce paper waste. Shred year-
old bank statements, expired warranties, old Social Security
statements and tax documents that are over seven years old.
Consolidate your debt.
Consider rolling all your high-interest payments into one low-
rate personal loan or credit card. Create a payment strategy to
lower your debt, and focus on paying off loans with the highest
interest rates first.
Organize your accounts.
Close old accounts, and consider bringing everything under one
roof. Move old 401(k) accounts into the one at your current job,
or roll them to a self-directed IR A. Increase your 401(k) savings
so that at a minimum you are saving enough to earn a full match
from your employer.
Plan your estate.
Update or create your will. It's an easy and inexpensive way to
guarantee that the exact people receive exactly what you want
them to have upon your passing.
Get life insurance.
If you aren't yet protected, now is the time to choose a life
insurance policy. ‡e coverage is an important part of your
financial plan as it protects your loved ones by covering debts
and expenses should you pass unexpectedly. You can find more
information about life insurance in the article on page 10.
