Auto-pay this. Direct deposit that. With all the “convenience” features of modern life, it is pretty easy to put your financial arrangements on autopilot. And while the time saved is usually worth it, especially when it means you don’t miss payments and incur late fees, it is important to set aside time on a regular basis to check up on your financial life. Small changes, such as refinancing a VA loan mortgage, negotiating a better credit card deal, or making a plan to pay down student loans and other debt can have an exponential impact on your financial future in five or 10 years.
If you’re one of those people who hate New Year’s resolutions, just think of this as an annual checkup that is coincidentally timed around the new year. After all, we are in a historically low interest rate environment and it is a perfect time to line up new deals before rates return to normal.
A wise old sergeant once said, “Proper planning prevents [expletive] poor performance.” If you want your finances in top shape, and your money to work for you, take a few hours for an annual financial checkup to see if you are leaving money on the table: the time spent checking mortgage refinance rates, getting updated auto and life insurance quotes, and swapping credit card offers can pay off in a big way on a monthly basis, as well as provide huge savings in the coming year on insurance premiums and interest payments.
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