For starters, I’m going to finally roll my money from a former employer’s retirement plan into an IRA. Of course, you may also want to enroll into your current employer’s plan, particularly if the plan offers a matching contribution, if you want to continue making pre-tax contributions, and if you want to diversify the tax treatment of your retirement savings.
Scheduling payments through my bank’s automated bill pay service will make it easier to pay bills because I won’t have to write checks or even buy stamps. In the long run, I’ll save time and money. Also, I won’t have to worry about missing a payment because I let the bank know when my bill is due and when I want the payment to be received, and then it is paid according to my request.
I’m going to review the insurance policies my husband and I have to make sure the information is correct and up-to-date, for example, on our homeowners and car insurance policies. We may even be eligible for additional savings based on our driving habits or the use of an alarm system in our home.
I’ll admit that I have a problem getting rid of my magazines after I’ve read them. I always feel like there’s some really good nugget of information that I’ll need to refer to in the future. So when I get those very kind letters in the mail about extending my subscription for the low, low price of $6 for 12 issues, I’ll politely decline because all this does is cost me more money for content that I can usually find for free online. Cutting out subscriptions will reduce the clutter on both my living room table and in my financial life.