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Keep Calm and Spring Clean Your Finances - Finances Demystified

Keep Calm and Spring Clean Your Finances

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As the flowers begin to bloom and Spring time finally returns, there are many things that we do to prepare for this new season.  Many people clean out their closets to make way for lighter clothing while others, like myself, have to refill their allergy and asthma medicine.  This is also a great time to give your finances a little spring cleaning!

Check Your Interest Rates

This is a great time of year to review the interest rates on your credit cards, car loans, mortgage and student loans.  For your credit cards, call your creditors and ask about obtaining a lower interest rate. If you have been receiving letters from other card issuers about lower rates, inform your current card issuer of the other offers to see if this persuades them to decrease your current rate.  If they won’t budge, then consider moving the balance to a lower rate credit card. Review your mortgage and car loans, and consider refinancing if there are lower rates available.

Review Your Credit Report

If you are not using the free credit monitoring apps and staying alert of any changes to your credit report, now is a good time to review your credit.  Examine your report and ensure that all of the information is accurate, and that all of the items on the report belong to you. If there are any discrepancies, dispute them!

Review Your Spending

How’s the budget you created in the beginning of the year coming along?  Take some time to review all of the categories and determine if there is anything you can cut back on. Example, do you really need all of those movie channels this summer, if you planning on being on vacation or not home as often?

Do a Junk Check

Being that spring cleaning, usually involves getting rid of the junk in your house. You minus well make some money from your junk! As they say, “one mans junk is another man’s treasure!”  Instead of just throwing your junk away, determine if someone else could use the item that you no longer need.  Consider hosting a yard sell, or signing up to sell your items at another event that is going on in your area.  You can also donate those items to the Goodwill or another non-profit organization for a tax deduction.

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Hypothetical performance results have many inherent limitations, some of which are described below. no representation is being made that any account will or is likely to achieve profits or losses similar to those shown; in fact, there are frequently sharp differences between hypothetical performance results and the actual results subsequently achieved by any particular trading program. One of the limitations of hypothetical performance results is that they are generally prepared with the benefit of hindsight. In addition, hypothetical trading does not involve financial risk, and no hypothetical trading record can completely account for the impact of financial risk of actual trading. for example, the ability to withstand losses or to adhere to a particular trading program in spite of trading losses are material points which can also adversely affect actual trading results. There are numerous other factors related to the markets in general or to the implementation of any specific trading program which cannot be fully accounted for in the preparation of hypothetical performance results and all which can adversely affect trading results.