Written by Taylor Financial Group, LLC
When it comes to creating and keeping a financially organized life, most Americans are in need of serious help. According to a study by U.S. Bank, only 41% of Americans use a budget. Everyone wants a financially organized life, but many Americans do not even know where to start!
At Taylor Financial Group, we recognize the importance of financial organization in creating a healthy financial life, and so should you! At the most basic level, financial organization saves time and money because it aids in paying bills on time, finding needed documents during tax season, providing proof of payment, disputing credit cards or billing errors, and avoiding the stress of dealing with piles of unorganized bills and paperwork.
For couples, it is especially important to be financially organized and establish responsibilities for financial matters. If one spouse manages the finances, the other spouse should be informed about what is going on financially, where important documents are stored, and the passwords for all online accounts. All in all, financial organization sets the stage for better joint decisions on investments, budgeting, debt, and investment planning. This is why the Taylor Financial Group team created a four-page checklist that is designed to keep you financially organized!
The checklist is designed to help assist you with income tax planning, investment planning, credit and debt planning, college planning, retirement planning, insurance planning, and estate planning. While this may seem like a lot of work, the checklist makes it more manageable by breaking it down in these sections. Additionally, finding all these documents now and having them on hand can save you a lot of pain during an emergency down the line.
The checklist also encourages you to keep a list of your trusted “advisors,” which includes anyone from employers to bankers to insurance agents. This way, family members know who to contact about insurance policies, account balances, etc. in an emergency. Another list to keep and update is of your key passwords and PIN numbers (computers, checking accounts, savings accounts, etc.).
Create a financially organized life for yourself before disaster strikes by following the checklist below! As always, please feel free to contact the Taylor Financial Group team for additional assistance in creating an organized financial life.
Have a question about financial planning in Glen Rock, NJ?
To schedule your complimentary 20 minute phone consultation
Taylor Financial Group, LLC
795 Franklin Avenue
Bldg. C, Suite 202
Franklin Lakes, NJ 07417
Securities offered through Cetera Advisor Networks LLC, Member FINRA/SIPC. Investment advisory services offered through CWM, LLC, an SEC Registered Investment Advisor. Cetera Advisor Networks LLC is under separate ownership from any other named entity.
This article is designed to provide accurate and authoritative information on the subjects covered. It is not, however, intended to provide specific legal, tax, or other professional advice. For specific professional assistance, the services of an appropriate professional should be sought.