Deprecated: mysql_connect(): The mysql extension is deprecated and will be removed in the future: use mysqli or PDO instead in /home/a26f9f83/public_html/articles/includes/config.php on line 159
Top 10+ Ways to Jumpstart your New Year?s Finances! > NetSparsh - Viral Content you Love & Share

Top 10+ Ways to Jumpstart your New Year?s Finances!

Of course, these don't have to be done in any particular order! Just pick one or two that particularly apply to your situation.

* Create your 2005 filing system. This might include new file folders, a new box to hold them or space in a filing cabinet with easy access. Mp>

* Set up a folder to collect all the important 2004 tax documents which will be arriving soon. Sure to arrive at your house are W-2s, 1099s, mortgage statements, etc.

* Set up an appointment with your tax professional early so you get the appointment of your choice. This also gives you a deadline to get your information ready! If you're self-employed, the next quarterly estimated tax payment will be due on January 15.

* Review last year's investments especially in your 401(k), IRA's etc. Find out what financial planning resources your company or 401(k) plan administrator offers and set up an appointment to talk to them. For non-company portfolios, talk to your investment advisor. You have until April 15 to make contributions to IRA type accounts (check with your tax preparer for eligibility).

* What about Quicken or Microsoft Money? If you don't use software to balance your checkbook, pay your bills and keep track of your savings and investments, this is a great time of the year to get started. My personal favorite is Quicken and for small businesses, you might consider Quicken Home and Business. If you are a small business with Payroll needs, check out QuickBooks.

* Medical Insurance reimbursements. If you haven't submitted all your medical bills to your insurance provider, now is the time to do so.

* Will and Estate Planning. No one likes to think about dying, but the best thing you can do for your family is to make sure they are taken care of by creating a will and making sure you have adequate life insurance. Think how easily you'll sleep knowing you have provided for your family even if you are no longer there.

* Speaking of insurance? If you haven't reviewed your health or home and auto policies in the last couple of years you might find you can save money and/or have better coverage. For example, if you still have a $250 deductible (which was my first deductible in 1979!), you will probably save by increasing it to $500 or $1000. Try to set aside some of your savings for deductibles in case you need them.

* Create your own Anti-Emergency Fund! We all know those car and home repairs, school fees, medical expenses and vacations are going to happen. Why not determine how much you'll need and save 1/12 of it each month? To read more go to: http://www.phelps-creek.com/archives/Anti-Emergency.htm.

* Holiday Bonus or Money Gifts If you received a financial gift this holiday season, hold on to it for at least 30 days while you decide what you really want to spend it on. All too often financial windfalls are spent before they even arrive. Consider dividing it into thirds: 1/3 to the past, 1/3 to the present and 1/3 to the future. Past might include paying down debt, present could be something you need or want now and future could be retirement, college savings, or a special vacation

* Financial Goals for next year Think about where you want to be next year at this time financially. If you want to save $1000, put aside $2.74 each day and you'll be there! Break down your financial goals into monthly, weekly and daily amounts and watch how quickly your savings will grow. Read more about it at: http://www.phelps-creek.com/archives/PDQFactor.htm.

Happy New Year!!!!!

(c) Phelps Creek Financial Coaching - All Rights Reserved ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

Cindy Morus (http://www.cindymorus.com) is a Certified Financial Recovery Counselor specializing in showing women and their families how to achieve financial well-being and peace of mind. She is also a Certified Credit Report Reviewer. Contact her at 541-387-2995 or [email protected]. Sign up for the "Get Ready to be Rich!" teleclass community for FREE for 30 days at http://www.phelps-creek.com/riches.htm!

Atte ntion Ezine editors/Site owners: Feel free to reprint this article in its entirety in your ezine or website as long as you leave all links in place, do not alter the content and include our resource box as listed above. If you do use the material please send us a note ([email protected]) so we can take a look. Thanks.

In The News:


USA TODAY

Pete the Planner: Road to early retirement may be bumpy - USA Today
USA TODAY
You will need some luck to ensure financial success in early retirement.

and more »

USA TODAY

Personal finance: 15 smart things you can do with $1000 right now
USA TODAY
A thousand dollars might be pocket change or a rounding error to multimillionaires and billionaires, but it's a meaningful sum for the rest of us. Any amount of money that we can save can be put to good use. Here are 15 examples of smart things you can ...


Unexpected Costco bargains and whether a millionaire daughter ...
MarketWatch
My daughter earned millions at Google, but her boyfriend has student debt — should she get a prenup? This father wonders whether his wealthy, smart daughter ...

and more »

Chicago Tribune

Personal finance experts reveal their favorite money apps
Chicago Tribune
Both David Bach, nine-time New York Times best-selling author of books such as Smart Couples Finish Rich, and J Money a personal-finance blogger at Budgets Are Sexy, are fans of this app. “You won't get rich off of this, but it's a great way to dip ...


Benzinga

In Its 10th Year, Personal Finance App Mint Is Investing In AI, Data ...
Benzinga
Mint, the personal finance app owned by Intuit Inc. (NASDAQ: INTU), could be transformed by artificial intelligence and machine learning. That's according to ...

and more »

After painful personal loss, managing money looms as key challenge
Minneapolis Star Tribune
A thoughtful personal finance guide for recently widowed or divorced women is "Money Confidence: Smart Financial Moves for Newly Single Women," by Kerry Hannon. Hannon is passionate about helping people gain control of their finances and her book is ...


Personal finance seen as big gap in education - Lowell Sun Online
Lowell Sun
BOSTON -- Eric Swansburg, a business teacher at King Philip Regional High School, passed a 100-question test around his class last week to gauge students' ...

and more »

USA TODAY

How to invest without losing money
USA TODAY
... bonds offer generally stable returns with very limited risk, and in some cases no risk at all. The problem is that safety comes with a price. CDs, to examine one cash equivalent, constitute an agreement in which you give your money to a financial ...


Daily Nation

PERSONAL FINANCE: The debt catch up
Daily Nation
The bank calculated this regardless of her other financial obligations. Susan now realises that to comfortably afford the loan, she needs to be earning 30 per cent more than she is now. She needs her income to increase just to afford a loan that she ...


Forbes

How To Stop Boring Students When Teaching Personal Finance
Forbes
My mission for the past seven years has been to help students and recent graduates develop healthy money habits and build the foundation for a lifetime of financial wellness. As the co-founder of the Harvard University Personal Financial Management ...

Google News

What is ChexSystems?

Commonly referred to as the first of the three major... Read More

What is a Traditional IRA?

With a traditional Investment Retirement Account (IRA) you pay taxes... Read More

I Want to Buy a Home - Now What?

If you were to ask 100 women "What would you... Read More

Check Fraud and Verification

Before buying personal or business checks you should inform yourself... Read More

The Wonderful World Of Address Labels

Ever wonder where address labels come from? Avery® is perhaps... Read More

7 Simple Ways To Save Money

Each of us knows how to spend money, but do... Read More

Planning Ahead with Your Finances

If you, like most people, have not seriously considered what... Read More

Honor Those Who Serve with Checking Account Supplies

Our global society has had a wake up call in... Read More

The World is Not Enough - Calling for a More Ethical Approach to Personal Finance

At a time when the entire world's attention is focused... Read More

How To Survive The Grocery Shopping Blues

If you are the normal consumer, then you've probably experienced... Read More

Strategies for Success

Holy Shenanigans! More STUFF?Loosing one's business due to lack of... Read More

Want Your Savings to Earn a Higher Rate of Return? Try Internet Banking

Doesn't it seem like the only impressive numbers we've seen... Read More

How to Save Money in a Grocery Store

Now there are ways to save money in the grocery... Read More

10 Money-Saving Tips

1. If you have your haircut every 3 weeks, try... Read More

Stretching Your Grocery Dollars

Shopping for groceries is an inevitable fact of our ever... Read More

Save Money on Groceries: Part I

One universal of humanity, no matter who you are or... Read More

Money Saving Tips. Maximize Savings on Everyday Items!

Frugal living is more than a lifestyle. It's a passion.... Read More

Portfolio Planning can Lead to Irreconcilable Differences

The judge had to ask the question, and we had... Read More

Five Secrets for Long-term Financial Success

Future financial success is not a guarantee that any one... Read More

Developing a budget? Watch out for Those Budget-Bursting Gremlins

If you've developed a household budget to get your spending... Read More

Vesting and Your 401(k)

Do you have a 401(k) retirement account? Are you vested... Read More

Budgeting -- The Critical Flaw That Causes Most Budgets to Fail

Budgeting. It's a word we're all familiar with. Everyone knows... Read More

Estate Planning Basics

You have probably accomplished a great deal with your life.... Read More

Accessing Funds You Never Knew You Had- Household Utilities and Mortgage Expense Reduction Plan

For most of us the process of getting out of... Read More

Car Donations and Used Car Donations

Car donations and used car donations are the way many... Read More