One Simple Step Each Month To Get Your Finances In Order

One Simple Step Each Month To Get Your Finances In Order
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You’ve resolved to get a handle on your finances in 2019, but there are only so many hours in the day. As work speeds up and life makes other demands, all of your good intentions transform right back into the same old habits and games of catch-up on your finances and important money matters.

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That’s why Tony Steuer, recognized authority on financial literacy and author of GET READY! A Step-by-Step Planner for Maintaining Your Financial First-Aid Kit, suggests ONE action item each month that will contribute to an overall healthier financial life. This will make things simple while keeping you accountable year-round.

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Below are Tony’s suggestions on the MOST important action item each month to keep your finances in shape:

  • January: Review your budget and cash flow as well as your net worth statement. This lets you see how you did last year and if you want to make any changes for the new year.
  • February: Organize tax documents and receipts.
    • If you’re feeling ambitious: Organize all financial documents from prior year to prep for taxes. It’s like spring cleaning for your finances.
  • March: Review your investments and allocations, making sure you are still on track for major goals such as retirement savings.
  • April: File federal and state income tax returns.
  • May: Order credit reports.
  • June: Review retirement plan contributions and projections to see if you are on target
  • July: Hold a family financial meeting. Review old goals and set new ones.
  • August: Review estate plan and estate planning documents to make sure they are current. This includes wills, trusts, and advance directives.
  • September: Review insurance policies to prep for November by making sure coverage still meets your needs and preparing to adjust accordingly.
  • October: Review your financial first aid kit
  • November: Open enrollment for group employee benefits and Individual Health Insurance begins.
  • December: Wrap up any loose ends from your financial year.

What do you plan to do to get your finances in order for 2019, comment below!

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Tony Steuer has led the way in establishing a path for Financial Preparedness through his award winning books.Tony regularly consults with InsureTechs, Financial Planners, Insurance Agencies, Attorneys, Insurance Companies and other Financial Service Companies on insurance marketing and product best practices/on strategies to help consumers GET READY through Financial Preparedness and the Financial Integrity Pledge. Tony is a past member of the California Department of Insurance Curriculum Board and current member of the National Financial Educator’s Council (NFEC) Curriculum Advisory Board. Most recently, Tony was a guest lecturer for UC Berkeley Extension’s CFP Survey of Personal Finance Course.
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  1. How about creating a comprehensive financial plan? Critical step in establishing realistic goals, tracking your progress, and becoming financially secure. For those who want it do it on their own (no adviser), it can be hard to find decent tools to help do it properly (which is why so many don’t), but, if I may, what really helped me was The Complete Retirement Planner. I won’t post a link because this isn’t spam, but you’ll find it if you want to. Most thorough planning tool I’ve found. Happy planning!

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