Thursday, July 19, 2018
Whether you are just setting out with savings, or hoping to beef up your portfolio, below are tips from the Certified Financial Planner Board of Standards, Inc. about how you can reboot your personal finances.Track your Money: Are you keeping track of money that's coming in and going out? In today's digital age, enlist the help of apps to make this process easier.
Check/Repair Credit: As we approach the one-year anniversary of the Equifax data breach, make sure your credit is in good standing. If you notice any suspicious changes, be persistent when correcting your report.
Evaluate Insurance Policies: Don't wait for disaster to strike. Be proactive and evaluate if the policy in place is the best for your current situation.
Consolidate Accounts: By combining your accounts, the resulting higher balance may avoid fees and even help you get a better deal. Not to mention, it will help streamline your finances.
Review Retirement: Have you calculated your retirement number? If not, it can't hurt to boost your retirement contributions in order to boost your savings when you do decide to retire.
Manage Investments: As market volatility increases and the second quarter ends, it is the perfect time for long-term investors to rebalance their accounts.
Source: Certified Financial Planner Board of Standards, Inc.
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