14 Steps to get you on the Right Path for 2014

Set your short term and long term goals for 2014.
Do you want to pay down debt? Start your retirement savings? Write them down.

Understand the difference between Saving & Investing.
Saving is putting away part of your income: Savings account, emergency fund. Investing is putting money into something (IRA, Annuity, Stocks) that will earn a return and grow your wealth.

Create and follow a budget.
I use and love mint.com to help keep me on track, send reminders and give me pretty pie graphs.

Check your life insurance.
Do you have life insurance? Do you have enough or too much? Are your beneficiaries up to date?

Check your credit report.Know where you stand and check for errors. You are allowed 1 free report a year. Go to annualcreditreport.com.

Talk to your significant other
Make sure you both are on the same page.

YOLO is not an excuse to overspend.
Treating yourself over and over does not get the rent paid. Spending money yodon’t have is a bad habit.

Cut down on using your credit cards.
Try paying cash. Plastic doesn’t feel like real money and makes it easier to spend.

Pay more than your minimum credit card payment.
You could save thousands of dollars in interest by increasing your payment. You will also be working step #1. Bonus points.

Understand your employer’s 401k Plan.
Make sure you know your options, fees and how it is invested. If your company does not offer one, talk with your financial planner.

Start your child’s college fund.
There are different options for this: 529, Florida Pre-paid, Life Insurance. Look at all your options

Meet with an attorney and set up your Estate Plan.
Let her know what your goals are and have her help you get started.

Increase your Financial Literacy.
Read books, blogs and financial articles. Attend workshops. Learn everything you can about your money and how it works. Wine, Women & Wealth was designed to do that. RSVP Here.

April Caldwell, MBA is a registered representative for Transamerica Financial Advisors, Inc. It is her belief that every single woman is capable of standing on her own two financial feet. Women face tremendous challenges as they move through life’s transitions, from childhood to adult, from college to career, from single to married, to widowhood or divorce, and into the retirement years. And women are concerned about the financial well-being of their families as well as themselves, making sure that those they love are sheltered within their own financial success. Her mission is to empower women to succeed and prosper. For a complimentary consultation email her at april.caldwell@tfaconnect.com.

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