3-Methods2-250x275

September 3, 2019 – Creating a Financially Organized Life

Share Post: facebook Created with Sketch. twitter Created with Sketch. linkedin Created with Sketch. mail Created with Sketch. print Created with Sketch.

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.

https://www.carsonwealth.com/wp-content/uploads/sites/213/2020/11/Creating-A-Financially-Organized-Life-attachment.pdf

Have a question about financial planning in Glen Rock, NJ?

Click here!

To schedule your complimentary 20 minute phone consultation

 Taylor Financial Group, LLC

795 Franklin Avenue

Bldg. C, Suite 202

Franklin Lakes, NJ  07417

Source: https://money.cnn.com/2016/10/24/pf/financial-mistake-budget/index.html

Share:
facebook Created with Sketch. twitter Created with Sketch. linkedin Created with Sketch. mail Created with Sketch. print Created with Sketch.
Share Post: facebook Created with Sketch. twitter Created with Sketch. linkedin Created with Sketch. mail Created with Sketch. print Created with Sketch.

RECENT POSTS

Financial Resolutions to Take Into the New Year

Tom Fridrich, JD, CLU, ChFC®, Senior Wealth Planner Thinking about making some New Year’s resolutions? Add financial wellbeing to your list. It’s a terrific time to identify goals and opportunities that may put you in a better financial position — not only in the upcoming year, …

Charitable Giving Strategies in a High-Income Year

Tom Fridrich, JD, CLUⓇ, ChFCⓇ, Senior Wealth Planner  The end of the year offers an ideal opportunity to look both forward and back — reflecting on recent achievements, while setting goals for the upcoming months. For many of my clients, it’s also a time to review their finances and i …

Let’s Talk About Midterm Elections and Your Investments

This week was midterm elections and we’ve had many questions about what it all could mean, which we’ll tackle in today’s blog. We consider it a great honor to vote, and while we may not know the final results of the election for days (or even months), what we do know is the election will …

Traditional IRA & Roth Conversion

If you have a Traditional IRA, you may benefit from doing a Roth conversion this year (and if you already performed a conversion this year, you still have time to do an additional conversion before year end). We typically favor Roth IRAs (over Traditional IRA balances) as Roth IRAs grow tax …
1 2 3 219 220 221
3-Methods2-250x275

Get in Touch

In just 15 minutes we can get to know your situation, then connect you with an advisor committed to helping you pursue true wealth.

Schedule a Consultation