Keeping Up With Financial Housekeeping

Financial housekeeping…is that really a thing? It is! Just like keeping your home clean and organized is a lot easier if you do a little tidying every day your finances benefit from quick, frequent tidying too. We may go weeks, or even months, without checking on our spending, credit, investments or insurance and then find ourselves in a financial jam when our car insurance has expired after we have a fender-bender.

Finding a few minutes once a month to do a little financial housekeeping will help you stay ahead of things and avoid any nasty surprises. Below are two important tips to get started and a link to a full list if you’re ready to do more.

Keep an eye on your credit reports.
You’re entitled to one free credit report every 12 months from each of three major credit companies. Go to www.annualcreditreport.com if it’s been a while since you’ve checked yours. Review your report for accuracy, check for fraudulent activity, and correct any errors.

Review the level of your emergency fund.
Keeping your emergency fund full and untouched will keep you from having to use expensive credit cards when something unexpected happens. Do you have $500 in cash saved for a rainy day?

You can review more tips here or if you want help with your financial housekeeping, just login to your BrightDime account and chat with a coach.