With the weather getting warmer, it is time to tackle some major cleaning, but that shouldn't start and end with your closets. As you clean up your house, you should also take a look at your finances. They could also use an annual dust off and reorganization. You'll be shocked at the number of financial documents you accumulate over the year. To get your financial plan squeaky clean, start with a quick overview.


1. Bring Your Beneficiary Designations Up-to-Date

If you have a life insurance policy or other assets, you need to make sure they will go to the right person, in case something happens to you. Major life events often cause you to make changes in how your finances should be handled. Use a checklist of life events like marriage, divorce, life insurance policies or a new job, to help you find all accounts and designations that might need updating. Remember, updating your will may not affect how some insurance policies handle disbursements, so be sure to look at everything related to your estate in detail.

2. Organize Your Financial Documents

Getting all of your important papers in one place makes it easier to put your hands on what you need when you need it. Also, you can quickly look at your assets and debts to get a better idea of what you need to do to meet the goals of your financial plan. Sometimes your credit cards might be carrying high balances, other times you might need to think about refinancing a loan to lower your interest.
 
Putting everything in order makes it a lot easier to get a clear picture of your financial life. You should also use the opportunity to create a "Personal Document Locator".  This Personal Document Locator is simply a detailed list of where you store your important records and papers and who your primary advisors and contacts are. This list will assist your loved ones in the event of your death or disability.

                    Grab your "Personal Document Locator" here FREE!
 
3. Say "Goodbye," to Paper Statements 

As you sort through the mountains of paper generated by each account, think about the ease of a paperless environment. The more information you can obtain electronically, the less you have to store at your home and the easier it is to compare the performance of your portfolios to your financial plan objectives. Ask about e-statements and wireless account communications.

4. Revisit Your Budget

Take another look at your recurring expenses and total up your spending categories. You might be surprised at how often you eat out or spend on clothing. Looking at what you need versus impulse purchases can help you get your finances back on track and help you pay down debts.

5. Plan for Retirement

You probably already have a retirement account or two in the works, but if you don't manage these accounts they may not grow as expected. Review with your financial advisor your financial strategy and performance goals to make sure you are on track. Take the time to look at your returns and average market performance. The more you are engaged with your financial affairs, the more confidence you will have in knowing your financial future is secure.

Get Help with Your Financial Spring Cleaning

Get help managing your finances from Patricia Allen at 
Paris Financial Planning. You can use her personal lifestyle wealth plan to improve your total value and her "safe money strategies" to protect your existing assets. With the right guidance, you could clear out underperforming investments and go forward with a clean, fresh and exciting financial plan.

 


Take the first step,  let's get acquainted! I listen and inquire about your past and present experiences, family, and concerns. Tell me your story and I will design a plan based on your values, goals - what's important to you. 

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I can help you clarify your values, your individual wants and needs as I recognize each woman is unique in her style of living.  My "Life by Design" process can help you create and build the life of your choosing, to find comfort and success with your money...to live the life of your dreams!

 Contact us to schedule a complimentary 30-minute discovery session to discuss your dreams, your goals, your values, what's important to you!  I am here to help!  

PARIS Financial Planning provides successful women with conservative strategies to grow their wealth during accumulation/savings years to protect their wealth during their retirement years and tax-advantaged strategies to distribute their wealth during their life and upon their death. 

"I am on a mission to revolutionize women's relationship with their money."

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12 Wealth Building Habits of Financially Savvy Women