In fact, half the battle with finances can be won with organization.
Our Wake Up 2day crew will tell you, Halloween is just around the corner. Then it’s Thanksgiving, Christmas and New year’s eve. Then – it’s tax time.
"I always say, get organized. If you’ve been collecting a lot of receipts throughout the year, paper receipts in your wallet or throughout the house, start gathering them up and putting them together so you can find them when April rolls around," says Amery Lam of Central Pacific Bank.
One of the advantages of getting organized early is that you may be surprised at ways you can find to save money.
"Definitely. Always look at ways to save money. Whether you are getting fees from ATM, checking account fees, credit card fees – you should always re-assess where these fees are coming from," Lam says.
And Lam says, don’t be afraid to ask your bank about cheaper alternatives, ways that can save you money. If you’re a homeowner, Lam says this is an excellent time to think about re-financing…but be cautious.
"Re-financing is always a good thing to think of. Any reduction in an interest rate has a great impact over the life of the loan. But you also have to think of the closing costs. Closing costs might have a big impact – so find out whether it’s worthwhile to do that," Lam says.
Finally, as you’re going about the re-organization, it may be a good idea to set up an emergency fund. It’s not that difficult and at some time or other, virtually all of us will need such a fund.
"Emergency fund is a good thing to have. It’s good for any unplanned expenses. What I would do is start setting up an automatic payment, get that emergency fund starting to grow," Lam says.
See the original article at: KHON2 Local News
