Spring Cleaning: Getting Your Finances in Order

Ah…spring is in the air. The days are getting longer, the birds are chirping, the lawn mowers are busy, and many of us are getting out the cleaning supplies to make our houses sparkle. But it might be the case that more than just your home needs to be decluttered, cleaned, and organized. Do your finances need some spring cleaning? Getting your financial life in order may seem daunting, but think of it as a way to contribute to your own financial success. Consider the following tips to get started on the path of financial organization.

1. PASSWORD MANAGEMENT

Do you have a system for keeping track of your countless usernames and passwords? You’ll save yourself some headaches if you can find a method to keep all your information in one place. Plus, you’ll have the bonus peace of mind that your information will be safeguarded. There are plenty of online password managers to choose from, but however you decide to organize your login details, be sure to regularly update your passwords to protect yourself from hackers.

2. PROTECT YOUR IDENTITY

You don’t want to mess with identity theft. Not only can it cost you financially, but it causes undue stress, affects your credit, and could take years to resolve. Other than changing your passwords frequently, being cautious about releasing your personal information, and screening your emails, consider investing in an identity protection plan or credit monitoring service. If you experience the unthinkable, the professionals can take care of all the legwork and be your advocate.

3. GO GREEN!

Are you sick of all the paper that keeps piling up on your counters? Save a tree and get rid of clutter by enrolling in paperless document delivery for all your bills and financial services. Since you’re planning to create a password management strategy, the only thing you’ll need to do to access account details is find your login information and be on your way.

4. SCAN YOUR HEART OUT

Another way to prevent the mountains of paper is to scan all your paperwork to a digital folder. This allows you to clear the files out of your home but still do your due diligence and have copies of pertinent information. If you aren’t using a cloud storage program, be sure to have a backup plan for your computer.

5. REVIEW AND REVIEW AGAIN

Do you like the idea of simplifying? Your finances might benefit from this approach. Do you have multiple bank accounts that you could consolidate? What about extra cash lying around that could be invested? Do you have rarely used credit cards? All of these things can be streamlined. Also, take a second look at your spending habits and create a budget that will help you stay on top of your finances.

6. DIG INTO YOUR ESTATE PLAN

If you’ve done all the work to create an estate plan, it would be beneficial for you to review it every 3-5 years. This will keep it up-to-date with any changes, such as divorce, beneficiary adjustments, change in trustee, or a modified financial situation.

7. SEEK PROFESSIONAL ADVICE

A financial advisor is there to be on your side, helping you find ways to maximize your finances and meet your goals. If you don’t already have a financial plan, meet with your advisor to create one that is customized to your situation. This will allow you to map out when you want to retire, how you will pay for college, what socially-responsible investments are right for you, and how to fully fund your retirement and health savings accounts. If you are ready to streamline your finances and create comprehensive financial strategies for a secure future, schedule a phone call with us today!

About Richard

Richard Archer is a financial advisor and the President of Archer Investment Management with more than eighteen years of industry experience. Largely working with successful individuals and couples, he specializes in providing comprehensive investment guidance and personalized care and attention to each client. Along with holding a Bachelor of Science in Economics and a MBA, he is a CERTIFIED FINANCIAL PLANNER™ certificant and a Chartered Financial Analyst®. He combines his advanced industry education and knowledge with his genuine care for people to provide clients with an exceptional experience. To learn more about Richard, connect with him on LinkedIn or visit www.archerim.com.