Broker Check

7 Financial Planning Moves You Can Make If You’re Stuck at Home

March 25, 2020

Our normal (pre-coronavirus) lives, tend to find many of us busy to the point that our financials can become woefully neglected. The good news out of all of this time stuck at home, and social distancing, is that many of those commitments have now melted away. So, if you’ve had getting your financials in order on the back burner, here’s your chance to get serious about getting the work done.

Here are my top 7 ideas on how to get your financials in order if you’re stuck at home for the next few weeks:

1. Review your estate documents, if they were done before 2016, consider scheduling an appointment with your attorney to have them revisited.

2. Read The Art of Money! A Life Changing Guide to Financial Happiness. This is a great book to banish shame and fear around your financials so you can move forward

3. Review your retirement savings contributions.

4. Evaluate your spending. Where is your money going, and where do you want to work to re-direct it (like boosting savings).

5. Have a Money Talk. Our lives are financially intertwined with those around us, who in your life do you need to have a financial heart to heart with? (Spouse, parent, boss, kids?). You can revisit more on this topic here:

6. Organize your financial documents in case of emergency and let your VIP’s know where to find them!

7. Check your credit report. We recommend doing this quarterly, it’s free to do. Best way to conquer it at no cost, rotate the reports. Order from one agency every quarter, be the end of the year you’ll have checked your report at all three agencies at least once!