(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.