It is that time of year again. Time to organize your taxes
and get ready to pay your 2013 tax bill on April 15, 2014.
While most consumers spend the majority of their time gathering and
assessing what is owed, consumers don’t take nearly the same care
to consider their financial well-being. Taking an assessment
of your financial health is imperative to improving your
credit score which will allow you to lower your debt and have
more money to save and to spend. Follow these three simple
steps to improve your credit and say hello to a financially
healthier you.
Step 1. Order a copy of your credit
report
Order a copy of your credit
report and review it to make sure all of your information, both
personal and accounts are reporting accurately. It is
important to review your report at the very least, annually and you
are entitled to one free copy of your
report per year at AnnualCreditReport.com. There are three
major credit reporting agencies, Equifax, Experian and
Trans Union, make sure to order a copy from each agency because
they do not always report the same
information.
Step 2. Start building a safety net
Start building a safety net for you and your family.
Whether you are single, plan to start a family or already have a
family to support, putting money into savings will help alleviate
some of the stress of unknown financial surprises. Saving can
be difficult for most families considering the high cost of living
these days but financial emergencies are almost guaranteed and you
can help fray some of the costs by having a safety net to fall back
on. Try to put aside an amount of money that is reasonable
for your budget, that will allow you to store some money but not
make it impossible to pay your bills.
Step 3. Review your contracts
Banks, insurance companies and credit card companies change
their policies all the time and the average consumer just ignores
the letter in the mail notifying them of these “major”
changes. Use this time to review all of your policies and
contracts to make sure they are still the best option for
you. Perhaps there is a credit card with a lower interest
rate or an insurance policy with a lower premium. Reviewing
your finances will take some work on your part but the benefits you
will gain from lowering your interest rates or premiums will be
well worth your time.
The New Year is all about starting fresh. For more
information on how to address your finances, contact SmithMarco P.C. for a free case review.