Tips to Improve Your Finances

2016 is about a quarter of the way through, so if you made a promise to yourself to get in better financial shape and haven’t yet honored that promise, you better act fast!

Perform an Investment Checkup

One of the first things you can do to make things better is to do a “check in” on all of the financial products and/or services you currently use. So many people make the mistake of entering into financial or investment decisions and then just seeing what happens from there on out. In truth, you need to consistently stay on top of your financial endeavors and make sure everything is still working for you as it originally did. And, there’s definitely no time like the present to see how your choices are performing and to make sure you’re not missing out on better terms elsewhere. Check in on your current investments and plans and make changes as needed for a brighter future.

See if Your Savings are Sufficient

Not only should you check to see how your investments are performing, but you’ll also want to take a close look at your savings/emergency fund. If you’re like most people, you dip into your “set aside” money a little here and there as needed. And, unfortunately, if you’re not careful, you can end up using way more of this money than you anticipated. Take the time to ensure you’re still in good shape in terms of saving and/or emergency money. If you find that funds are running a little low, beef up your savings contributions until you could comfortably ride out any special circumstance life throws your way.

Check Your Credit Score

Another wise thing to do is to check up on your credit report. You can do this for free through any of the major credit reporting bureaus. Find out what your credit score is and, if applicable, what things are dragging your score down. Once you know what issues exist, you can file a complaint on credit remarks that don’t currently apply or that have been wrongly issued. You can also take note of any accurate negative reports on your credit history and take steps to remedy them, or, at the very least, to start building new and better credit.

Talk to a Pro

Finally, if you’re not already working with a financial adviser, there is no better time than the present! As you probably already know, managing your taxes and general finances on your own is tough and complex. That’s why, to ensure the best possible outcome in all financial matters, you should consider hiring a professional and trustworthy financial adviser to help you through the process. The sooner you do, the sooner you can get your financial goals and reputation on the right track, no matter what your starting point.