Stretch Your Dollar: Mid-year financial check-up

Visa and MasterCards with microchips . (AP Photo/Martin Meissner)

(WTNH)– It’s August and that means there are only about 4 months left in the year. We are stretching your dollar with why now’s a good time to do a mid-year financial check-up.

As you put off that back-to-school shopping another week, experts suggest you give a little time to your personal finances.

“People wait until the end of the year and realize, oh my gosh, I didn’t save enough for the holiday gifts, or oh my gosh, we want to go on vacation and there’s no money left,” said Paul Schatz.

Heritage Capital’s Paul Schatz says too many people wait until the end of the year to look at their money and by then it’s too late to make any major changes before years end.

He says now’s a good time to get your tax paperwork organized and make a contribution to charity. Remember to pull your credit score for free at least once a year.

“Maybe that bill from the apartment you had in a different town or state and there was a 3 or 4 or 10 dollar balance, didn’t get paid and they ding your credit report. Not to mention if there’s a problem, it takes months and months, sometimes years to fix your credit report,” said Schatz.

Start paying more than just the minimum payment on those credit cards so you can have them paid off by the holidays. If you’ve been thinking about refinancing your home, do it!

“The 30-year mortgage right now you can get for under 4%. That’s an absolutely lay-up. Your parents, grandparents at one point were paying 15, 18, 20 percent,” said Schatz.

Bottom line, remember all your financial goals from the New Year. It’s never too late to get a fresh start and end the year with a better bank account than the one you started with.

WTNH NEWS8 provides commenting to allow for constructive discussion on the stories we cover. In order to comment here, you acknowledge you have read and agreed to our Terms of Service. Commenters who violate these terms, including use of vulgar language or racial slurs, will be banned. Please be respectful of the opinions of others. If you see an inappropriate comment, please flag it for our moderators to review. Also, you can now block any inappropriate user by simple selecting the drop down menu on the right of any comment and selection "Block User" from there.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s