With 2011 just days away and many of us thinking of our resolutions, consider making one related to your finances. As women, we often put saving and finances on the back burner while we care for our families, enjoy time with friends or give back to the community.
I read this great article from the New York Times offering a financial checklist for everyone. Friends, women, take a look and see which apply to you.
Maybe you’re already rebalancing investments or have reviewed your will and insurance options. Instead, evaluate your savings deductions or review your mortgage options. Or if you believe you’ve done it all, help a friend, share this with another woman in your life. We, as women, should all understand our finances, one checked box at a time. That’s my resolution this year.
What’s yours?
hey – so c and i are talking 2011 finances this week. it’s scheduled AND there is an agenda. this group rocks, all keeping me honest and such.
SOOO Glad! Props to you AND C for having the discussion!
Congratulations Katie and Tara on the People’s Choice award! I just wanted to share a savings tip on the way people pay their mortgages. By paying your mortgage bi-weekly instead of monthly you can shave thousands off your mortgage. You have to check with you lender first to make sure they accept bi-weekly payments and also make sure they apply the extra amount to the principle. Your lender must also immediately credit each half monthly payment since if they wait for the second payment each month before crediting your payment that would be the same as paying monthly and you would see no benefit. Most banks will accept the bi-weekly payment plan and this service should be totally free. Paying your mortgage in this way will cause you to make 26 instead of 24 payments per year…resulting in one full months extra payment per year. If your bank does not accept the bi-weekly payment method you can always make one extra payment per year that will go directly off your principle…just make sure either way that your loan doesn’t have a pre-payment penalty. Happy Savings in the New Year!
Thanks Karen! Great tip! We think there are so many house-related savings opportunities that we’re excited to tackle in 2011!