Coverage Checkup Instead of merely simplifying your financial life, you should also make sure that you are providing adequate protection. It is a good idea to have insurance on your home, your health, your car, your loved ones, and your income. Don't forget, though, you can over do it and have too much insurance. You need to decide what level of self-insurance you are comfortable with. The law requires you to carry automobile liability insurance is required by law. At least you should have term life insurance to replace your income and help your loved ones with debt and living expenses. Homeowner insurance is important in case your home becomes unlivable due to fire or other incident. Again, if you can get your insurance through one provider, your life will be simpler with fewer agents to visit with. Perhaps you can even have access to your account through Internet. The less effort it takes to understand your coverage and to make changes, less stress and more time you'll save.

Final Items When was last time you updated your will? If it was more than a year ago, you might want to do it again. Assets increase or decrease, potential inheritors are born, and maybe you've decided that you'd like to leave a little something to your church. Updating your will is a good way to make sure your final wishes are carried out. Putting some of your assets in a trust can save on probate costs. Also if you become incapacitated trust can manage funds for people with special needs - a child who needs extra care, for example. A trust is also another way distribute your assets to children or grandchildren at a specific age, such as when they reach age 25 or have children of their own.

Ultimately, you will have to decide just how much consolidation of planners, agents and financial management you want to do. Once you've cleaned house on your finances, spending an afternoon in hammock will be a lot more restful. Having a peace of mind about your financial affairs is truly a good feeling.