Your finances are too important to let them go by the wayside.
Leading up to this holiday season and New Year’s resolutions, your finances deserve their own to do list. With that in mind, here are a few things you should do to prepare for a better financial future:
- Review your beneficiaries for your life insurance and retirement accounts. You will typically be asked to name a beneficiary when you open a new retirement account. In some cases, you can simply check and/or change your beneficiaries online. In other cases, you can order the paperwork from the company.
- Assess your spending and look for places to save. These days, there are many services that you’ll sign up for with a recurring payment plan. Check on what you’re subscribed to and remove anything you don’t use much, for a start. Then you can move onto your manual spending.
- Use flexible spending accounts before the end of the year. Some funds won’t roll over into the new year.
- Contribute as much as possible to your retirement savings. Before celebrating the next year, prepare for the years far into the future.
- Reassess your bank accounts. You may be losing out on interest or better deals if you don’t check what you’re getting now and compare them with other options. Look around for higher-interest short-term savings accounts and better-rewarded credit cards.