Lori Atwood shows you her TOP 5 FINANCIAL “MUST-HAVES” for Any Household.
1. KNOW WHERE ALL YOUR ACCOUNTS ARE AND HOW TO ACCESS THEM!! Just in case. I know it’s morbid, but just do it then have a little celebration and never worry about it again.
- Step 1 – make a list of all your financial accounts, passwords, keys, ID cards or any other information you need to access these accounts (my video will help you make the list).
- Step 2 – Put the list in a locked safe, or password protected/encrypted or secure app.
2. YOU MUST HAVE A WILL. Morbid again… I know, but if you have a child you DOUBLE MUST have a will with directions as to the care of that minor child.
- Step 1 – Get help from professionals. I used Quicken Willmaker because it’s easy and reasonably priced, but Legal Zoom or other sites like it can help too. Just do it!
- Step 2 – Think about the care of your minor child/children – morbid, again, but it has to be done. Ask the person/people you want to take your child if they are willing to do so.
- Step 3 – Sign the WILL and give a copy to the person you named Executor and keep a copy in your safe place (safe deposit box, safe, locked drawer etc.)
3. EMERGENCY SAVINGS… when is something on this list not going to be about dire circumstances, well…
- Step 1 – My video will show you how to figure out exactly how much you need, but to be safe, have at least 3 month of current monthly income and work toward 6 months.
- Step 2 – if you don’t have an adequate amount in emergency savings, create a plan to get your emergency savings up to snuff. Watch my video for help.
4. HAVE AN IRA OR OTHER RETIREMENT ACCOUNT! Get in the habit of saving for retirement.
- Step 1 – open an IRA, your bank can help or try a reputable discount brokerage. Find the best online casino kiwi http://onlinecasinokiwi.com/ and win real money! You don’t need a lot to start.
- Step 2 – deposit the maximum this year if you can, if not deposit the maximum you can afford. Get started now!
5. HAVE A LITTLE “SLUSH FUND.” Finally, good news! You will stay on your plan longer if you reward yourself once in a while.
- Step 1 – put aside whatever you can even $10, $50 or $100 from selling something or a gift. Stash it somewhere safe in a drawer or a sock.
- Step 2 – When you hit a milestone like you’ve paid off your first credit card or you’ve saved your first $5,000 for a house down payment, use it to celebrate.
- Step 3 – replenish it as soon as you can for your next milestone.