BizEase Support Solutions HomepageBizEase Support Solutions

  • Home
  • About
    • The Team Behind the Business
    • Compatibility
    • Rates & Terms
    • In Retrospect
  • Services
    • Professional Speakers & Coaches
    • Video Marketing
    • Membership Site Development
    • eCommerce and Shopping Cart Support!
    • Infusionsoft
    • Graphic, Blog, Newsletter and Web Design
    • Social Media Marketing
    • Copywriting and Editing Services
    • Internet Marketing
    • Public Relations
  • Time = Money!
  • BizEase Blog
  • Client Raves
  • Contact Us
    • Privacy Policy
    • Cookie Policy
  • Cool Resources

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

January 15, 2005 By Terry Green

0shares

by Cindy Morus, Certified Financial Recovery Counselor and Certified Credit Report Reviewer

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.

* 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?

* 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.

Happy New Year!!!!!

(c) Phelps Creek Financial Coaching – All Rights Reserved

Print Friendly, PDF & Email
Terry Green
Terry Green

In business since 1991, Terry Green is the founder/CEO/President of BizEase Support Solutions, an American-based, online marketing support company comprised of a team of talented professionals from around North America. BizEase excels at providing speakers and business coaches worldwide with seamless online marketing solutions, from setting up shopping carts and editing video, to writing blog posts and managing Social Media and PR campaigns. BizEase clients (who span five continents) take great joy in allowing the BizEase team to take care of the details so they can get back to doing what they do best! Click here to get our weekly tips ezine delivered to your inbox every other Friday, with tips on plugins, apps, and tools to make you more productive today!

0shares

Filed Under: Finance

Let's Connect on Social Media!

  • Facebook
  • Twitter
  • LinkedIn
  • Instagram

Get Free Blog Updates!

Never miss a blog post again. Enter your email address below and we'll let you know each time we publish a new post!

Thanks so much!

You're almost set to receive your blog updates! Watch your inbox to confirm your email address and you'll be good to go!

Check out our most recent posts!

  • 7 Easy Ways to Grow Your List! December 11, 2019
  • Are You Guilty of Start and Stop Marketing? December 9, 2019
  • 5 MORE Ways to Increase Productivity December 4, 2019
  • Have You Been the Victim of WordPress Vulnerabilities? December 2, 2019
  • 7 Easy Ways To Increase Your Productivity November 27, 2019

© Copyright 2011–2019 BizEase Support Solutions · A Division of Fastype VA Services, Inc · Privacy Policy · All Rights Reserved