Spring Cleaning for Your FinancesPosted on April 8, 2019
Like most goals worth pursuing, establishing and maintaining a solid financial foundation for yourself and your family can take work. Money Reporter Hillary Hoffower identifies six actions to take to help get and keep your finances on track:*
- Plan—set goals for your financial future
- Focus—see tasks through to completion without being distracted
- Be Responsible—accept your role in your financial outcome
- Commit to save—spend less and stick to a budget
- Develop confidence—believe in yourself and your financial goals, and focus on long-term growth
- Maintain social indifference—avoid succumbing to social pressure to "keep up with the Joneses"
Hoffower also advises asking yourself periodically whether you're handling your money in a way that's leading in the direction you want to go. If you're feeling stuck in life, she cautions to experiment with how you can make changes to get closer to the life you want.
One step you can take right now to help improve your future is to review your financial holdings and your life insurance coverage. If you've already filed your 2018 tax return, or even if you're still in the process, look over your 2018 statements to see if there are any changes you can make to improve your finances for this year.
Second, check the beneficiaries listed on your life insurance policies and your 401(k) plan to make sure they're up-to-date.
And third, schedule an appointment with a American Classic Agency Insurance representative. Remember, whole life insurance provides guaranteed, tax-deferred growth of cash value, and you can borrow against these funds throughout your life, whenever you need them.
*Ladders. 11 Feb. 2019. theladders.com.