I’ve taken the time today to do a little financial housekeeping, getting ready for a new financial year.
I reconciled the balances in our various checking and savings accounts. All checks written have cleared and transactions have posted. If you are a financial nerd like me, you know that’s awesome.
I then updated our inventory of financial accounts – taking the time to update account passwords and website information. The inventory is designed for my wife, so that she would have a snapshot of our finances, should something happen to me.
After that, I took a peek at our retirement and college savings accounts. I really need to do some more research before I touch our current investments, but I’m pretty happy with the progress we are making.
Our final mortgage payment for this year posted last week. I made a note of just how much interest we paid last year. We’ll receive a year-end statement in a few weeks, but I was curious. I’ll stat working on our taxes in a few weeks and having this information on hand will be, well, handy. I can’t wait until we have paid off our mortgage – in full!
Our insurance premiums are due twice a year. Our next payment is due in June and I can now add that payment, divided by six, to our monthly budget. I also did a quick review of our insurance coverage and I’m satisfied we are in good shape.
I have several apps on my phone that I use to manage our finances. I took a few minutes and made sure that these apps were up-to-date and functioning properly. I think I’ll write a post this week about the apps that help us save money! Stay tuned.
Finally, I reviewed our credit reports – checking for any errors.
It feels good to be organized. With these simple tasks behind me, I think I’m ready for next year.
What about you? Are you getting ready for a new financial year? Leave a comment below and share. Blessings.