Important Things to Take Care of Today
In our busy lives, we often take care of the things right in front of us. For example, we make the grocery list, ensure homework is done, get the oil changed in the car, mow the grass or take care of regular dental and health checkups. These have deadlines and impact our lives if we don’t do them.
What about those things that don’t actually affect us on a daily basis? Taking a look at some of these items may light a fire under you to take action and prepare for the future.
Get your finances together and make a budget: Why not take a few moments to make a spreadsheet of how much money you bring in and payout? This activity may not be the most exciting, but you need to be in control of your incoming and outgoing money—and making sure of it will eliminate a lot of stress in your life. After all, once you’re on top of everything, you’ll find more time and energy to devote to other, more fun things.
Start saving and investing in your child’s future. If you haven’t already, look into setting up savings plans for your child’s college now by investing in something like a 529 plan, which allows you to make contributions as you like. The sooner the better, as college tuition seems to rise by the minute. Talk to your financial advisor to get started on what works best for you and your family.
Make a will. Typically specific trigger events will signal that the time is right to organize your estate or will. If you have not made a will yet or updated it in many years, why not get that done? An attorney can get the ball rolling. Taking action is particularly important if you have experienced any major life changes, such as getting married or divorced, having kids, starting a business or buying a home. Once this is taken care of, you will feel a sense of accomplishment and calmness.
Invest in life insurance. Now that you are a parent, you have lives depending on you. A life insurance policy is a good way to make sure they are taken care of if you are not around to do it yourself. A wide variety of policies are available, and payments are typically low.
Establish an escape plan. In case of fire, your family needs to have a plan of action to get out fast. For when a tornado warning comes, make sure everybody knows where the safest place is in your home. Draw a floor plan of your dwelling, marking two ways out of every room, especially sleeping areas. Teach everyone how to open doors and window locks. Check smoke alarms while you’re thinking about it. Invest in portable escape ladders in or near windows, and if you live in an apartment, never use the elevator; use stairs. Together, select an outside meeting place a safe distance away, such as under a tree or by the front gate. Talk about dialing 911. Then, practice!
Ward off major homeowner and auto problems. It’s not an everyday occurrence, but when your air conditioner or furnace go out, you’ll snap to attention! Schedule maintenance checkups on these items with an HVAC company. They will check fans and make sure everything is running properly. Schedule a checkup for your vehicle too, over and beyond oil changes. This way, you can fend off emergencies such as fan belts breaking and tires going flat because they are bald. On that note, review your homeowner and car insurance policies to make sure they are up to date, include new drivers or new cars, and make sure your coverage is the best it can be for your family.
None of these things to do should be added to the kitchen chalkboard. Just tuck them away in your mind and attack one or two when you have time. Chipping away at these important tasks will make you feel good about your life today and in the future.
Rainy Day Fund
Let’s face it, life is unpredictable! A rainy day fund is one of the most important components of a sound financial foundation. Even the most prepared, organized people can be caught off guard and put into tough financial situations when something unexpected happens. Because of this, it’s essential to have money tucked away. Although most people agree that having easy-to-access cash is important, 29 percent of households have less than $1,000 in savings, according to a recent MagnifyMoney study.
Rainy day funds can be spent on things like car repairs, new tires, and emissions and inspections. Or perhaps you need a new washing machine, fridge, roof or floor? Rainy day funds are meant for such expenses. Most people wouldn’t budget for a new roof because it’s a one-time expense. However, car and basic home repairs are inevitable occurrences. Rainy day funds are the perfect financial resource for occasions like this.
Change is truly the only predictable thing in life, and not-so-pleasant expense “surprises” always show up. Knowing this makes it smart to plan ahead and prepare for the unexpected. You’ll enjoy peace of mind and financial protection in case—or when—something happens. A rainy day fund provides the extra padding in your budget that can keep you out of debt and on track financially, no matter what unexpected life event jumps in front of you.
Sources: ThoughtCatalog.com, HuffingtonPost.com, RainbowIntl.com, MagnifyMoney.com
An avid outdoors girl, Judy Goppert lives in Lee’s Summit and enjoys all seasons, especially summer. She enjoys drawing on her personal experiences to write about the nuances of everything wonderful about life.