Mortgage News
Your 2014 financial spring cleaning checklist
Just like changing the winter tires, getting the flower beds in order, and scrubbing behind the appliances, taking a good look at your finances is about getting your whole house in order.
Published
Along with traditional spring activities, like opening the cottage and cleaning the house from top to bottom, giving your finances a spring cleaning should be on the "to do" list for early spring.
Some key points to consider in your Spring 2014 financial plan:
- Have a good look at your insurance plan, and your will, if you have one. Ensure they are up to date and consult a lawyer if necessary.
- Examine your savings. If you made a savings resolution at the beginning of the year, are you still on track? If not, perhaps it's time to find out why, and make a new savings plan, if the original is not feasible.
- Start paying down debt - and start with the debts that carry the highest rate of interest.
- After your debt is under control, it's time to look into maximizing contributions to your retirement savings.