Published: Sunday, January 2, 2011
Maintenance monthly: Keeping track of what’s yours
Get a handle on it
For the past two years, you’ve scrimped and saved out of fear of what the economy would bring next.
You’ve cut coupons, scaled back on gift-giving and skipped expensive vacations.
In 2011, it’s time to focus on maintaining what you’ve got. You’ll save both money and hassle in doing so.
Here are some ideas for getting started.
1. Take stock of what you’ve got
Make a list of your accounts (checking, savings, retirement); investments; insurance policies (life, health, auto, home).
With your list in hand, make sure your information is current on each account. File necessary address corrections; verify that your life insurance and retirement accounts have the right beneficiary information.
Check balance information, so you’ll know where you’re starting the year financially. Be sure to factor in any pending holiday bills that might not have been posted to your account.
2. Check your credit report
Now that you’ve checked and updated your accounts, be sure to run your credit report for 2011. This will ensure there are no problems lingering from the past year.
“This should be on your yearly list right next to ‘Change the batteries in smoke detector,’” said John Ulzheimer, consumer education president for SmartCredit.com.
To request your free credit report, go to www.annualcreditreport.com. You’re entitled to one free credit report annually. However, you’ll have to pay a fee to obtain your credit score.
Making sure your credit report is accurate is important if you plan to apply for a loan, insurance, or even a new job as more employers are looking at potential workers’ credit reports.
3. Organize your files
If you already file your statements regularly, this should be easy an easy process.
Weed out your 2010 paper files, putting aside anything you’ll need for April’s taxes, says certified professional organizer Dawn Cannon. Pull out bank statements, investment records, donation receipts (including those on credit card statements). Unless you run a home-based business, you don’t need to keep utility bills, phone bills. Shred them.
If you’re more the file-everything-in-a-shoebox type, then there’s no time like the present to get organized. Simply create files for each account on your list. Update monthly with new statements.
The Sacramento Bee and other Herald news services contributed to this report.
Each month this year, the Herald will offer tips for maintaining what is yours — your possessions, wealth and benefits. Send your suggestions or comments to mdunlop@heraldnet.com.
For the past two years, you’ve scrimped and saved out of fear of what the economy would bring next.
You’ve cut coupons, scaled back on gift-giving and skipped expensive vacations.
In 2011, it’s time to focus on maintaining what you’ve got. You’ll save both money and hassle in doing so.
Here are some ideas for getting started.
1. Take stock of what you’ve got
Make a list of your accounts (checking, savings, retirement); investments; insurance policies (life, health, auto, home).
With your list in hand, make sure your information is current on each account. File necessary address corrections; verify that your life insurance and retirement accounts have the right beneficiary information.
Check balance information, so you’ll know where you’re starting the year financially. Be sure to factor in any pending holiday bills that might not have been posted to your account.
2. Check your credit report
Now that you’ve checked and updated your accounts, be sure to run your credit report for 2011. This will ensure there are no problems lingering from the past year.
“This should be on your yearly list right next to ‘Change the batteries in smoke detector,’” said John Ulzheimer, consumer education president for SmartCredit.com.
To request your free credit report, go to www.annualcreditreport.com. You’re entitled to one free credit report annually. However, you’ll have to pay a fee to obtain your credit score.
Making sure your credit report is accurate is important if you plan to apply for a loan, insurance, or even a new job as more employers are looking at potential workers’ credit reports.
3. Organize your files
If you already file your statements regularly, this should be easy an easy process.
Weed out your 2010 paper files, putting aside anything you’ll need for April’s taxes, says certified professional organizer Dawn Cannon. Pull out bank statements, investment records, donation receipts (including those on credit card statements). Unless you run a home-based business, you don’t need to keep utility bills, phone bills. Shred them.
If you’re more the file-everything-in-a-shoebox type, then there’s no time like the present to get organized. Simply create files for each account on your list. Update monthly with new statements.
The Sacramento Bee and other Herald news services contributed to this report.
Each month this year, the Herald will offer tips for maintaining what is yours — your possessions, wealth and benefits. Send your suggestions or comments to mdunlop@heraldnet.com.
Comments
(
