Thursday Thirteen - Things To Do (Financial)

#ThursdayThirteenDani Collins

Ugh, you're going to hate me for this one.

Every year we get the call from the people who administer the group retirement savings plan for my day job. Every year I send my husband, but this year it didn't work and I had to go. So, to share the pain, here are 13 things we should all be doing for our financial health (and probably aren't.)

  1. Write a Will (or update it)
  2. Remortgage (or lock in to a good rate. They're going up, people.)
  3. Life insurance (if you don't have some, get some. If you have some, get a quote from a competitor.)
  4. Retirement Savings (Figure out how much you're gonna need and how much the government will give you.)
  5. RRSP (in Canada) (If you're not contributing, set one up. If you are contributing, increase your contribution.)
  6. Shred old documents. (Make a stack of the folders, files, statements, and other documentation from ten years ago. Burn, shred, or otherwise permanently destroy.)
  7. Funeral arrangements (Do your family a favour and communicate your wishes and ensure they're funded. I'm going for LifeGem.)
  8. Education Planning (RESP in Canada) (Got kids? Get money from the gov't by setting up one of these.)
  9. Disability Strategy (no, I don't have one either. I'm just trying to clean off my desk and came across all the papers she gave me. Gah.)
  10. Budget (I use You Need A Budget. I do not use it properly. I try to use it as small business software to track my writing expenses. It is not the best tool for this, but I like it for the day to day banking and can't be bothered switching. If you have a great small business for Mac suggestion, I would love you forever if you tipped me off.)
  11. Figure out how much you need to make off of your writing in order to quit your day job. (Okay, that's a #NoteToSelf)
  12. Submit receipts (Do you have some, like for prescriptions or something? Are you forgetting that's money to you if you go to the trouble of mailing them in? How about that rebate on snow tires? Just do it!)
  13. Quit buying lunch (Another note to self. I do this too often then wonder where our money goes. It's a small daily expense until you add up a month's worth and hate yourself. Make a PBJ, for heaven's sake.)

I know, I know. I'm not jumping on any of this myself. It's a drag and costs money, but it's important. Make an appointment with one person about one of these things, even if it's just your spouse to talk about that lunch thing.