Financial Preparedness
January
Make a will/trust. If you have one, review & update it if necessary.
February
Commit to save a set amount each month. Set up an automatic transfer from your checking to a savings vehicle.
March
If you are carrying unnecessary debt, create a debt-elimination calendar and begin paying off the debt (see "One for the Money," p. 5).
April
Set up a basic household budget, using any method that fits your needs. Begin tracking family expenses in a way that's useful to you.
May
Review your insurance needs (home, life, health, auto etc.) Ensure you have adequate insurance.
June
Have a family home evening to teach children about using money wisely. Make sure children & spouses know where important financial papers (especially wills) are located.
July
Create a filing system for your important financial papers.
August
Copy all important financial papers and place copies in a safe deposit box or other secure location away from your home. You may wish to place certain important documents in 72-hr kits.
September
Commit to educating yourself financially by reading one good book on a financial planning topic of interest to you.
October
Create a net worth statement by listing all assets & liabilities.
November
Walk through your house with a camcorder or camera to create a visual record of important assets.
December
Be sure not to overspend on Christmas!
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