Financial Planning Tips for January 2009
Create a Financial Plan and Monitoring System
If you haven't already done so, prepare a financial plan and a budgeting system for monitoring your income, expenses, assets and liabilities. The information you collect will enable you to start planning for retirement or other major life events. Use last year's information to establish a budget for the coming year.
Setup an Effective Filing System
If you haven't already done so, set up a filing system for storing your important documents and records.
Prepare for Taxes
Start getting ready for preparing your tax return for the preceding year. As you receive Forms W-2, 1099 and other tax documents, file them immediately. This will reduce time looking for them later.
Request a social security number for any child regardless of age who does not already have one.