Get Prepped and Ready

Believe it or not, the holiday season is right around the corner. That makes now a great time to do a little financial cleanup. Preparing now will make things easier for when it’s time to start shopping for gifts. Here’s what to do.

Review Your Budget

Go through your budget and trim any excess fat. One great place to start is with subscription services. If you’re paying for something you haven’t used in many months, cancel it.

Check Your Report

Check your credit reports from each of the three credit bureaus. You must check all three because they can have different information. Make sure all the info on your report is correct. Look at the accounts listed to verify that they are yours. Then check those accounts for any inaccuracies. If you find them, report them to the bureau in question.

Look at Savings

It’s a good time to review your short-term and long-term savings situation. For short-term savings, review your goals and make sure you are on track to meet them. Look at your savings account rate and shop around for a higher rate if need be. A good place to start is a credit union, as they often offer better deals than big banks. As for long-term savings, check your retirement packages. Are you contributing as much as you can? If there is room to add more, do so now.

Double Down on Debt

If you have debt, review your plan to pay it down. Are there moves you can make to erase the debt quicker? If you are hindered by credit card debt, you might consider a balance transfer card to make things easier. You don’t want to head into the holiday season worrying about a hefty credit card balance.