Simplify your finances with these steps to take control of your financial future.
- Have your paycheck or government check deposited directly into your checking account.
- Establish a regular savings program by having $200 (or some other amount) transferred into a money market account each month.
- Have your auto loan and credit card payments automatically taken from your checking account.
- Establish a home equity line of credit to be available for unexpected expenses.
- Set up a “dollar cost averaging” purchasing program for mutual funds.
- Save for a child’s college education with an automatic transfer into a special savings account.
- Review your 401(k) elections to make sure you are taking full advantage of the program.
- Commit to having a financial review, including your estate plan and investment strategy, within the next three months.