All Financial Wisdom

What to do during a blizzard!

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During the blizzard of 2015 called "Winter Storm Juno," you may be bored.  Here is a list of things you can do to keep you out of a "financial blizzard."

1. Start doing your taxes. The year just ended and you should start receiving your tax forms from your employer, insurance companies and investments. Start now so that you can get your tax refund earlier.

2. Look over your investments. A month in the new year, your investments should be coming out with their earning reports and other documents for the past quarter and year. Take a look at them and evaluate them during the quiet time. Maybe you’ll read something that causes you to sell on Monday.  Figure out what you need to do to max out last year’s IRA contributions, since you have until tax day to do so.

3. Adjust your Monthly budget. Look over your budget and expenses from the last couple years and adjust amounts if necessary. Insurance, rent, food, and gas prices change over time and you should adjust your budget accordingly. Spend this time to really understand where your money is going and where you want it to go.

4. Read a personal finance book. There are several relatively short personal finance books and pamphlets that help spark ideas and curve spending habits for the better. I have a couple recommendations here.  Take in the quiet environment and enjoy!

5. Clean up your house.  There might be some things laying around the house that you are no longer using.  Take a look at your closet, furniture, and drawers throughout the house and see if there is anything you haven't really touched, or stuff you do not want anymore.  You can donate things to charity and claim some of the value as a tax deduction.  You can also put it up on Ebay.com, Craigslist.org, or hold a garage sale once it gets a little warmer and make some more money.

6. Sleep in and take a mental health day.  Resting and relaxing is needed.  During a blizzard, you shouldn't stress yourself out and take the calm in stride.  Relax and breath as the snow comes down.  You have the day off, and the power could go out.  Getting yourself healthy and happy will allow you to be financial secure in the future.

Stay safe out there!

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