Six Steps to Improve Your Finances

Here are six steps to improve your finances from Laura Rowley:

1. Calculate your net worth.

2. Order your credit report.

3. Adjust your withholding.

4. Review your tax return with your spouse.

5. Beef up your insurance records.

6. Start planning your summer vacation.

My thoughts on these:

1. I do this every month (and give you all an update like this.) If you're wondering how to calculate your net worth, see Net Worth Explained and Five Principles to Increasing Your Net Worth.

2. I do it at least once a year. Last time I did was a few months ago.

3. She's reading my mind. ;-)

4. My wife has zero interest in anything associated with our taxes (other than the fact that they get done by someone other than her.) But I do have an annual PowerPoint presentation I give her every year on our finances. I do that in July.

5. I did this last year -- video taped our entire house and then took the tape to work. In case our home is ever destroyed, I'll have proof of what we owned and it should make getting a decent insurance payment a lot easier. I'm hoping I never need to use it.

6. We're going to Disney -- and budgeting for it too!

Comments

[Zachary]

My wife is equally disinterested in taxes. I have learned a great deal about doing taxes, though, since we have been married because her money situation was more complex than mine when we got married.