Can you believe we are half way through 2015? Why is it so hard for me to believe? Because I have not really slowed down since tax season with all the projects and youth sports that continue year-round. I know that’s how your life is too. It may be work, kids or other responsibilities, but no one seems to have enough time. With our hectic lives, we need to make sure we take care of the important items in our tax and financial lives before the time just slips by.
The best thing you can do is start now. One of the roles of a responsible adult is not spending money frivolously, but to use it to attack some areas of need in our financial lives. Some good areas to focus on are:
[block_number]1[/block_number] Establish or replenish your emergency fund to cover those unexpected large expenses.
[block_number]2[/block_number] Pay off some nagging debt, especially any credit card debt incurring high interest rates
[block_number]3[/block_number] Save for retirement. Studies show 45% of working-age adults have NO retirement assets.
[block_number]4[/block_number]Get a jump start on college savings – A 529 Plan is a good plan to consider.
To get started towards our goal, let’s start with a modest $100 per month for the rest of the year. That accumulation of $600 by the end of 2015 could be the foundation of an emergency fund or a start to a young child’s college education funding. How much different will it feel to have $600 put away towards one of your goals?
Don’t get to the end of the year and wonder why the time goes by so fast, there is no better time than now to analyze your financial situation and see if any changes need to be made. I’ve outlined several options that would be good things to do with your money, but which one is right for you? How much do you need? If you need assistance in pulling your financial picture into focus, please give us a call.