Friday, July 11, 2008
Mid-Year Financial Checkup
Now that the year is more than half over its a good idea to do a Mid-Year financial checkup:
1. Go over all your bills to see which ones you can stop altogether or which ones have charges you can get rid of. I am in the process of doing this. Mid year and January are my usual times to try to become more financially fit. (and physically fit!!)
I have turned my kitchen table into a temporary desk by pulling out all our bills, a calculator and bringing the phone in there. I'm going to list on a legal pad all our bills, the amounts due and due dates. Then I'm going to go over each one with a fine tooth comb to see which ones can be reduced, eliminated or fine-tuned.
I started this yesterday by working on our phone bill and one other bill. I made a couple of calls, reduced some minutes and an interest rate and feel pretty good about it. Little charges add up over time and seem to creep in there without our really noticing it.
I plan to work on this more this weekend and the coming week.
2. I also intend to work on our budget. I've already been thinking about how much gas we use each week. $80.00 to $100.00 a week!!!! YIKES! AAARRRGH!!! I'm sure the figures most of us allowed for gas and food have changed since January 1st! Any money saved in Number 1. above may be reallocated to gas and food.
3. Its not too early to be thinking about 2008 taxes. Yuck! But, having these things organized as you go along is so much better than waiting til the last minute next April. It could be as simple as just setting up a file to put deductible receipts in or a more complicated filing system if your deductions are more complicated. I'm filing 2008 deductible receipts in a file that says "2007" on it. Gotta fix that!
4. While you are into this you could declutter some papers! I know I need to! This would be a good thing to work on during the July Decluttering Challenge I posted about here. Maybe I could show some before and after pictures of this next week. (if my camera is working) I'd love to see any before and after pictures you have of decluttered desks, filing areas and paper stashes!
For more Frugal Friday tips please visit Biblical Womanhood.
Its been an exciting week! Victoria arrived on Monday and I kept her brother for 3 days. Only bad thing is that today I am home from work ...
Note: If you want to buy clothespin bags, please visit MY ETSY SHOP (CLICK HERE) But, feel free to make your own from this tutorial! T...
We are getting lots of tomatoes from our little kitchen garden and I am trying to make use of each and every one of them. We've been eat...