MONEY MATTERS
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Get Your Financial Life In Order This Year BY WIFE EDITOR
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s your financial life a little out of shape? Do you want to make it strong, fit, and healthy this year? This type of makeover doesn’t happen overnight, but you can get started right away. The start of a new year is always a good time to start new routines but anytime is the “right” time! Think of improving your financial life as a staircase with many flights. You can’t leap to the top in a single bound (unless you’re Superman), but you can make it to the top step by step. That’s why we’ve created the WIFE.org FINANCIAL FIT Calendar. Each month we challenge you to go one flight up the staircase by completing an action that will help you clarify, organize, and empower your financial life. Each activity is linked to a great article from WIFE that will show you how to get it done! Here is a list of some of our top financial planning articles on WIFE. We encourage you to bookmark this article and return to it each month to adopt a few more good money habits. January – Create a Budget Great financial fitness starts with creat-
ing and sticking to a budget. Think about your financial goals for this year, next year, and ten years from now. With those goals clearly in your mind, create a budget that will allow you to afford a comfortable life today while keeping enough in reserve to save for tomorrow. February – Talk Money with Your Sweetheart Love is in the air in February, but that love can quickly turn to frustration and regret if you and your sweetheart aren’t on the same page when it comes to money! This month, sit down and talk money so you can keep the love alive. March – Prepare for Tax Time Yes, the least wonderful time of the year is quickly approaching – Tax Time. Don’t wait until the last minute to do your taxes. A mad scramble may lead to mistakes or missed deductions. Make it a goal this month to prepare and submit your taxes ahead of the deadline. You’ll get your refund earlier and save yourself a lot of stress! April – Re-evaluate Your 401k Plan If your employer offers a 401k plan, we hope that you are already invested. If not, now is the time to jump in and start sav-
ing for a happy and financially comfortable retirement. If you are already invested in a 401k, take some time this month to re-evaluate. Can you put a little more away each month this year? Has your risk tolerance changed? Make sure you are in the best 401k plan for your retirement goals. May – Create an Estate Plan May is the month of Mother’s Day, and if you have children, it’s critical that you plan for them in case you get sick, become incapacitated, or pass away unexpectedly. Even a simple estate plan can help your family follow your wishes, leave a legacy to your children and family, and protect your hard-earned assets
from government taxes. June – Vacation Smarter Summer break starts in June for many students, which also means family vacation time! Don’t let this year’s vacation swallow all your hard-earned savings. You can plan smart, spend smart, and still have an awesome time on your travels. July – Cut Your Credit Card Addiction If you are like many Americans, then you have a problem. One you may have tried to keep hidden for a long time, but which is affecting your ability to cope with life. continued on page 16
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