It is hard to believe that a month has already gone by, but I say that every year. For today’s post, I want to give you a list of financial to-dos as a reminder. Don’t worry, it is a short list.
- Check your credit report – If you did not so so in January, it is time to check your credit report and review it for any fraudulent activity. This is especially the case with the Target and other data breaches that have occurred over the last several months. I recommend checking your Equifax Report each January. Go to www.annualcreditreport.com and get started today. Click here to learn how.
- File your taxes - You should have all of your forms by now so get started on your taxes. My favorite is Turbotax. I did mine last night. This year TurboTax has a promotion where you can use your refund to buy Amazon gift cards and receive a 10% bonus.
- Increase your 401k contribution – Most of us are now finding out if we get a raise this year and for many it will be in the 2-3% range. Instead of having that extra $12 a paycheck go to waste, increase your 401k contribution by the same amount. For example, if you get a 3% raise, log into your 401k account and increase your contribution rate from 2% to 5%. Your raise will be put to much better use this way.
- Fill out the FASFA – If you have any kids going to college in the fall, you need to fill out the FASFA. You will need the same documents that you use to file your taxes, so it is a great time of year to do this. By doing this work early, your child will have a better chance to receive financial aid as they will be put on the early decision list.
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