Thursday, December 12, 2013
Be resolute in your resolutions
It's not too late to make good on those resolutions
For many of us, those ambitious New Year’s resolutions we made when 2013 rolled around have become a distant memory.
But guess what?
There’s still time to make good on those financial goals. Start crossing these chores off your list during the next few weeks to set yourself up for financial success in 2014. You won’t be sorry.
- Review your budget. Look through all of your current bills, and make sure you’re not paying for services you don’t use. Do you really need the bigger cell phone plan? Are you paying for TV channels you never watch? What about that Netflix subscription – do you still use it?
- Schedule a Dupaco Money Makeover. This month, meet one-on-one with a Dupaco Money Makeover artist, and review your financial goals. Learn where you can cut costs and save more. Find out whether your credit report is in good standing. “Try to get that overall picture. Sometimes that Money Makeover is all it takes to see where we are at and where we need to be,” says Tami Rechtenbach, vice president of member services at Dupaco Community Credit Union.
- Understand your health coverage. The Affordable Care Act changes a lot about health insurance. Talk to your employer’s human resources department and health insurance provider to find out whether the law affects you. “There are some people who will qualify for a Health Savings Account that maybe didn’t before,” Rechtenbach says. “Review your coverage, and see whether there are any changes you need to make as a result of that.” Don’t forget to spend any remaining funds in your medical flexible spending account by Dec. 31.
- Review your other insurance policies. Talk to a Dupaco Insurance Services agent to find out whether your coverage is adequate. You might discover that you’re paying too much for your policies.
- Look over your investments. Talk to your financial planner to make sure your investments are still in line with your goals.
By Emily Kittle