While the year is still young, take some time to organize your financial life
Are you ready to get your finances in order for 2013? If so, here are some tips to get started:
Create a budget. By setting and tracking income and
expense categories, you not only keep your current finances organized, you
can also set the wheels in motion for reaching long-term goals like buying
a new house or financing college.
Make it automatic. You’ll have fewer details to worry about
by automating as many financial chores as possible. For example, you may be able to
eliminate trips to the bank with automatic payroll deposit. Automating
your monthly bills for things like cable, electricity and trash removal
can also save you hours of valuable free time each month.
Inventory your assets. A financial inventory provides a useful
snapshot of your assets so you can understand where you are now and what
you must do to reach your goals.
File important documents. In addition to your financial inventory, keep other important documents like tax returns and statements from investment accounts organized and accessible. You’ll also want to keep insurance policies, wills, trust documents and other important paperwork safe and available to those who may need them.
- Computerize the process. There are a variety of software packages
and on-line resources available to help you keep your financial life
organized. Most of them are very
inexpensive – and some are even free.
Renée A. Hanson, CFP®, CEP®, CDFA™, CFS, is a private wealth advisor with Hanson, Ayala & Associates, a private wealth advisory practice of Ameriprise Financial Services, Inc. Her passion is in helping women achieve their dreams and financial goals, regardless of life’s many obstacles. Renée is licensed/registered to do business with U.S. residents only in the states of AZ, CA, CO, GA, IA, IL, MI, MN, MT, NH, NJ, NM, NY, OH, PA, SC, TX, VA, WA, WI. Please visit: www.reneehanson.com to learn more.
Ameriprise Financial does not provide tax or legal advice. Consult your tax advisor or attorney.
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