About The Georgia post. (Knoxville, Crawford County, Ga.) 19??-current | View Entire Issue (Jan. 3, 2013)
7 New Year Financial Tips The new year is a great time to tion to save money. According have already failecfby Jan. r year is a great get yourself pointed in the right direction financially. Here are seven tips for improv ing your financial life in 2013. • Review your credit report - Borrowing money isn’t the only reason to check your credit. Em ployers check credit reports and so do insurance companies. Your credit score can have a profound effect on the amount you pay for auto and homeowners insurance - and perhaps on health and life insurance in the not-too-distant future. Order your free credit re port atAnnualCreditReport.com. • Set up an Automatic Savings Plan (ASP) - If your employer doesn’t offer this through pay roll deduction you can set one up through your bank or brokerage account. Simply have a certain amount of money withdrawn from your checking or savings account each month and deposit ed into your investment account. • Establish a cash flow plan - Business owners know you can’t control what you don’t track. Take the time to forecast your in come and expenses for the year, and put it in writing. Then ad just those numbers to reach your goals, such as paying down debt or replacing a car. • Pay off your credit cards - It’s especially important to take action on debt in 2013. Cash doesn’t earn much interest sitting in a deposit account (less than 1 percent) and even “low interest” credit cards charge 10 to 12 per cent. So if you’re sitting on any extra savings, consider using it to pay down credit card debt. • Shop your insurance - Insur ance agents are often paid com mission based on premium lev els, so they have no incentive for finding existing customers lower premiums. However, there is a huge incentive for a competing agent to find you the lowest pre mium in order to win your busi ness. Look at ways to save on your health insurance coverage, too, such as switching to a high- deductible plan and opening a Health Savings Account. • Write an estate plan - At a minimum you need to have a val id will, power-of-attomey (POA) for your finances and health-care decisions, and a living will (Ad vanced Healthcare Directive in some states). Decide who will be your personal representative in the event you become inca pacitated (POA) or at your death (executor). If you have minor children, choose who will raise them in your absence and estab lish a testamentary trust for their finances. • Meet with a financial adviser - An adviser is to financial plan ning as a personal trainer is to an exercise program. Allow your self to be held accountable by a third party who will push you to help yourself. Good advisers will help you develop a budget, look at your debts, tax situation, retirement and college savings, estate planning and insurance. You don’t have to be a high-net- worth individual to seek the as sistance of a financial adviser. Don’t just make a vague resolu- money. According to Psychology Today, of the mil lions of American’s who make a New Years resolution, 40 percent already failecfby Jan. 31. Let 2013 be the year you make lasting changes to improve your financial life. CRAFTY Mama's.etc. CRAWFORD EAMHY MEDICINE & OCCUPATIONAL HEALTH 478-836-2819 • 106 McGraryAve* Moncrief repair services From BIG to small, we fix it all 26 S. Dugger Awe., Roberta, GA 478.836.2886 moncriefrepairservices@yahoo.com Probate Court Judge Pam Busbee & Staff
