I know many people are already into the thick of their Holiday shopping or making plans for gift giving and party hosting. Especially in this day and age, planning for the expenditures of the holiday se
ason is extremely important.
It's also true that in the present challenging financial climate "execution" of your holiday plans can be even more important. It's easy to fall into the lure and "trap" of holiday spending!
Figuring a budget for holiday spending and sticking to it isn't always easy, but maintaining a level head regarding expenditures protects your finances and credit ratings down the road. Something you'll be glad you did later.
An important note during holiday planning and spending?
Debit card usage is up this year. I read that statistic in the paper the other day. That means more potential for hijinx taking place on your cards!
I can tell you from personal experience ... protection of your card and its PIN number/code is absolutely vital. Even if you have never lost your card or told anyone else your PIN ... check your banking debit account daily. Thiefs and criminals can get access even without your card and wreak all sorts of havoc to your account. Be aware ... and stay financially safe!
I try to make my customers aware that now is the perfect time to do a little investigative work and "sniffing around" into their finances and record-keeping. Preparation for the future is key.
If you are able to do so within your current economic status ... now is the time to take stock of donations, contributions to retirement accounts, and more. Tax time 2010 will be upon you in no time ... and you'll be glad that you took full advantage of the maximum benefits allowed you.
At the end of the year is a very smart time to take financial action. Have a credit check and credit report run on yourself. Especially after a time of higher credit card or banking account usage, taking this pre-emptive action to protect and prepare your finances and financial abilities for the future makes alot of sense. (Catching errors or discrepancies early and before you want to make a major purchase is best and will save you headach
es and time later.)
As a lender, I will perform credit reports for my present clients (and potential clients) at no charge as part of my lending and mortgage planning services. I also conduct free mortgage planning services. Other lenders might do so too.
Why wouldn't you take advantage of a valuable free service?
Also, if you have already closed a loan within the year, contact your lender now for an extra copy of your loan's Closing Statement. You'll be prepared for the upcoming New Year and have an extra copy ready for yourself at tax time.
No insomnia or anxiety suffered at tax time! All the info at your fingertips. All free. All ahead of time. That's being a smart consumer.
Planning ... Protection ... Preparation ... Action!
Gene Mundt, Sr. Vice President
Personal NMLS #216987
The Federal Savings Bank
1823 Centre Point Circle, Naperville, IL 60563
Skype! 630-219-1316
Nice Gene! An ounce of prevention. Again, this is more wisdom coming from the voice of experience.
Gene: Thanks for this. I've been thinking about 2010 already. I may not commit my thoughts to paper until nexrt month but plan on continuing to do and try different things as I build my business. Thanks for the tips. I appreciate them. Take care.
Kate: Thanks for the kind words. And yes, on part of this I do speak from experience. Debit card thieves!!! Grrrrrrr ... don't get me started ...
Thanks for writing ...
Gene
Paul: Glad it got you thinking ... although it sounds like you were formulating a plan already. I hope this serves a purpose for many that read it ... and gets them moving towards action.
Was good to hear from you ..
Gene