Maybe you can see the connection now. There are a couple of ways to look at the personal finance “refrigerator”, if you will.
Is your fridge full of beer, mustard and party leftovers [from last month]? (Lots of party, no emergency fund)
Is it full of impulse buys like pizza (short-term pleasure) , four types of sauce for chicken (too concentrated), or very few vegetables (not enough diversification), or just not enough real food to make a meal?
Or are you the fussy parent who makes sure that the fridge only has healthy, organic, locavore stuff in it?
Enough with the food analogies-let’s get to work.
Empty Personal Finance Plan? 5 things to do immediately
Check your credit at www.annualcreditreport.com
Get Social Security questions answered here: http://bit.ly/tTkcoK
Check the status of your emergency fund-how many months of income/expenses are in there?
Add up your debts (yes, all of them) Need a worksheet-check here .
What’s in your retirement plan? How much do you need?
Is your Personal Finance Plan too cluttered, too complex?
Find your old, left behind, retirement plans-assemble statements and account numbers to prepare for transfers
Rebalance portfolio asset classes and match up to your remaining years of work (aggressive, moderate, or conservative funds?)
(Be a financial locavore)
Check your beneficiaries, account titles and make sure that someone else knows where your records are http://bit.ly/tTkcoK
As it said in the blog post that inspired this one:
“Clean off one refrigerator shelf each week so you don’t have to do it all at once.”
- Clean Out Your Refrigerator Day is today (lunaticoutpost.com)