Organizing Your Finances: - Show Me MY Money: What You're Worth or * net * Worth

Written by Janet L. Hall


Continued from page 1
a negative number you need to REALLY * OverHall * and Balance your financial area! ~~ Pay off some/all debt ~~ Cut back on spending ~~ Stop charging ~~ Start a savings plan B. If your total net worth is more than half your annual income but less than a few years' income you need to * OverHall * and Balance your financial area. ~~ If you're 40 or under and own a home, you're okay for now ~~ If you're 40 or over and you don't own a home: `` Cut back on spending `` Stop charging `` Reduce debt `` Increase your savings `` Buy a home before retiring C. If your total net worth is more than a few years' of your annual income, CONGRATULATIONS! Keep doing what you've been doing! Listed below are some questions to ask yourself now that you know and can see what your net worth equals. 1. Do you have enough cash reserves to meet your needs? 2. Do you have enough protection to provide money for unforeseen emergencies (we talked about this last issue)? 3. Do you have enough fixed assets (usually long-term; bonds are an example) to provide or produce additional income? 4. Do you have enough equity assets (short or long-term; real estate and stocks are examples) for growth and income? To answer those questions, you need to know what your family and your needs and goals are and then plan how you are going to meet them. Quick Tips to INCREASE Your Assets: 1. Maximize your 401(k) contribution 2. Start investing 3. Get automatic deduction/deposit from paycheck to savings each pay period. Quick Tips to DECREASE Your Liabilities: Credit Cards 1. If you have to use a credit card, use only one major card 2. Pay more thanrepparttar minimum payment onrepparttar 112781 credit card withrepparttar 112782 highest interest rate 3. Stop charging torepparttar 112783 highest interest rate credit card 4. Get rid of department store credit cards 5. Don't apply for anymore credit cards Mortgage(s) 1. Pay a little extra each month towardsrepparttar 112784 PRINCIPAL of your mortgage payment 2. Drop your PMI (Private Mortgage Insurance) when your home equity exceeds 20% of your home's value (talk to your mortgage lender) 3. Refinance mortgage at a lower interest rate 4. Refinance mortgage at a lower interest rate AND finance for 15 or 20 years instead ofrepparttar 112785 usual 30 years. 5. Pay half your monthly mortgage payment every two weeks (talk to your lender)

Smiles, not Piles, Janet L. Hall

The Organizing Wizard, Janet L. Hall, is a Professional Organizer, Speaker, and Author. She isrepparttar 112786 owner of OverHall Consulting, and Organizing By Phone. Subscribe to her FREE organizing newsletter at http://www.overhall.com/newsletter.htm or visit her web site at http://www.overhall.com

Copyright 2000 by OverHall Consulting P.O. Box 263, Port Republic, MD 20676 All Rights Reserved. Permission is granted to reproduce, copy, or distribute so long as this copyright notice and full information about contactingrepparttar 112787 author is attached.

The Organizing Wizard, Janet L. Hall, is a Professional Organizer, Speaker, and Author. She is the owner of OverHall Consulting, and Organizing By Phone. Subscribe to her FREE organizing newsletter at http://www.overhall.com/newsletter.htm or visit her web site at http://www.overhall.com


I Wasn't Paying Attention: Where Does My Money Go and How Can I Get Some Back? - Part 3

Written by Janet L. Hall


Continued from page 1

Top 7 Tips for * OverHalling Your Mortgage Expenses 1. Find and GETrepparttar lowest interest rate 2. Pay your monthly payment in two week intervals 3. Switch from adjustable to an ARM 4. Drop your PMI (Private Mortgage Insurance) if you have at least 20% equity in your home 5. Pay a little extra onrepparttar 112780 principle each month or whenever you have extra money (make sure you tellrepparttar 112781 mortgage companyrepparttar 112782 extra is to be applied to your PRINCIPLE only) 6. Pay a little extra onrepparttar 112783 principle each month (needed to be said again!) 7. Check into changing your mortgage from a 30 year to 20 or 15 year loan

Top 7 Tips for * OverHalling Your Credit Card Expenses 1. Use only ONE major credit card per person/family (cuts down on paper, tracking expenses, and bills) 2. Get rid of high interest rate major credit and department store cards 3. Get rid of cards that require you to pay an annual fee 4. Check for additional fees, such as transaction fees, late fees, over-limit fees 5. Charge ONLY what you can pay off monthly 6. Prepay before you charge, such as vacations and holidays 7. Pay on time. Don’t putrepparttar 112784 bill in a pile, pay immediately or put withrepparttar 112785 rest of your monthly bills

Smiles, not Piles, Janet L. Hall

The Organizing Wizard, Janet L. Hall, is a Professional Organizer, Speaker, and Author. She isrepparttar 112786 owner of OverHall Consulting, and Organizing By Phone. Subscribe to her FREE organizing newsletter at http://www.overhall.com/newsletter.htm or visit her web site at http://www.overhall.com

Copyright ( c ) 1999, 2000, 2001 by OverHall Consulting P.O. Box 263, Port Republic, MD 20676 All Rights Reserved. Permission is granted to reproduce, copy, or distribute so long as article is kept intact, this copyright notice and full information about contactingrepparttar 112787 author is attached.



The Organizing Wizard, Janet L. Hall, is a Professional Organizer, Speaker, and Author. She is the owner of OverHall Consulting, and Organizing By Phone. Subscribe to her FREE organizing newsletter at http://www.overhall.com/newsletter.htm or visit her web site at http://www.overhall.com


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