The Millstone Times January 2019

FAMILY MATTERS

Important Financial Resolutions To Make By Lauren Kolacki

INDIVIDUAL TAX RETURNS BUSINESS TAX RETURNS ACCOUNTING & BOOKKEEPING SERVICES TAX PLANNING

Keeping on top of your finances requires many of the same actions year after year. Make it a tradition to find out where you are financially—and what your goals are. 1. Make a 2019 budget. Take a fresh look at your essential and nonessential expenses. Make sure that retirement and other savings are included as essentials. 2. Reduce debt. Not all debt is bad (for instance, a mortgage), but there's really nothing good about carrying a credit card balance. Systematically pay down bal- ances by focusing on higher interest cards first 3. Build an emergency fund. Everyone’s situation is different, but bad things—an illness, the loss of a job—can happen to anyone. It is important to protect yourself. 4. Review your insurance coverage. Make sure you have adequate coverage for the essential types of insur- ance: health, car, homeowners or renter’s insurance. Also look into dis- ability insurance (especially if you're in your peak earning years) and an umbrella policy if you have significant assets and life insurance if you have dependents.

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The Millstone Times

January 2019