Eight Simple Steps to Reduce Your Financial Anxiety
Simplify your finances with these steps to take control of your financial future.
- Have your paycheck or government check deposited directly into your checking account.
- Establish a regular savings program by having $300 (or some other amount) transferred into a money market account each month.
- Have your auto loan and credit card payments automatically made from your checking account.
- Establish a home equity line of credit to be available for unexpected expenses.
- Set up a "dollar cost averaging" purchasing program for mutual funds.
- Save for a child's college education with an automatic transfer into a special savings account.
- Review your 401(k) elections to make sure you are taking full advantage of the program.
- Commit to having a financial review, including your estate plan and investment strategy, over the next three months.
With these eight steps you can make your daily financial life less stressful and have the peace of mind knowing you are doing the right things.