Internet resources for last-minute planning

Thinking ahead may not be in your financial vocabulary. While it should be, there are resources for those who plan expensive things — retirement and education, for example — at the last minute.

Vacation planning at the last minute leads to money mistakes like overspending for flights and hotels when you ought to be checking for discounts.

This USNews.com post by Geoff Williams names the ills that overcome last-minute travelers who might have put off planning because of the expense of travel, only to pay top dollar for having waited.

“A last-minute vacation can destroy a budget, which is ironic and dispiriting if your budget is what kept you from long-range vacation planning in the first place,” he says.

Find more last-minute vacation guidance — picking “off-peak” destinations, and other shop-around advice — in this checklist at 360financialliteracy.org.

College financing at the last minute is no easy task. Still, you or your child should not be dissuaded by a perceived lack of funds. A useful post at investopedia.com suggests last-minute strategies for meeting the tuition bill. Families seeking financial aid must complete the Free Application for Federal Student Aid — the dreaded FAFSA — where your financial assets must be declared. But key savings, such as retirement money in a 401(k) or IRA don’t count, so you do yourself a favor, now and in the future, by shifting funds to such accounts.

Retirement saving at the last minute? Of course you should have done something earlier, but if you simply didn’t, there are things you can do, short of dumping a fortune into lottery tickets, to scramble for a modicum of retirement. Brian Perry at Bankrate.com outlines some of the steps.

For example, the Internal Revenue Service has “catch-up provisions that allow individuals over the age of 50 to contribute extra money to individual retirement accounts and 401(k)s,” Perry writes in this post. Of course, if you’re going to suddenly save like crazy, the money will have to come from somewhere, so you’ll be cutting back severely on other expenses, and you probably will have to consider that any downsizing will be permanent.

More in Herald Business Journal

Aerospace workers adjust to changing industry

The number of Boeing workers dropped almost 10 percent since last year.

Tom Hoban
Are millennials warming up to life in suburbia?

They dominate the apartment market and their wants need to be accounted for, says columnist Tom Hoban.

Camano artist mixes flask, paintings for successful cocktail

Art flasks prove popular as bachelorette gifts, birthday presents and wedding favors.

Fluke’s T6 Electrical Testers receives Innovation Awards honor

Fluke’s T6 Electrical Testers have received top honors in the Tools and… Continue reading

Everett volunteer named ‘community champion’ by Molina Healthcare

Everett’s Jorge Galindo was one of seven people across the state to… Continue reading

Cascade Valley Health to hold Festival of Trees in Arlington

Cascade Valley Health Foundation will be holding their fifth annual Festival of… Continue reading

7-Eleven program helped add 500 trees, shrubs to Everett park

Last month, 7-Eleven helped plant more than 500 trees and shrubs at… Continue reading

Pentagon inspector general praises secret $80 billion bomber

US Government Accountability Office in 2016 rejected a protest filed by Boeing-Lockheed Martin.

Everett’s Sentry Credit celebrates a quarter century in business

Sentry Credit Inc. in Everett is celebrating its 25th year in business.… Continue reading

Most Read