The Financial Moves You Should Make in May ift.tt/12fVGvY With the winter chill in the rearview mirror, were psyched to finally head outdoors and take advantage of sunnier skies and brand-new blossoms. But just like your spring flowers need a little nurturing this time of year, so do your finances. Thats why weve compiled five to-dos for you to tackle this month. This post originally appeared on LearnVest. Some youll likely complete in just five minutes, while others might require a little more of your free time, but all will help to set you up for financial progress. Try your hand at these timely spring tasks: Check in on Your Goals Can you believe its been four months since you pinned down your New Years resolution? We hope thats given you time to make progress on your dreams—whether thats paying off the last few thousand off your student loans or socking away enough cash for a first home. But if youve encountered some bumps along the way, dont worry—nows the time to reassess. Losing steam after months of hard work? Learn these four psychological tricks to reach your money goals faster. Pull a Copy of Your Credit Report Its almost that time of year when students anxiously await their end-of-year report cards before taking off for the summer. While you may not be in school anymore, its still a prime time to check a report card of your own: your credit report. This basic rundown of your financial life documents everything from your credit card payments (and if theyre on time … or not) to your mortgage. You can pull it for free once a year from each of the three major credit bureaus (Equifax, TransUnion and Experian) to review the details and ensure that no errors have creeped up from the last time you looked. Spot something fishy? Learn how to dispute an error on your report. Research Whether Your Child Qualifies for Scholarships If the end of another school year means your child is nearing high school graduation, its time to focus on your next hurdle: college tuition. Set aside an hour or so to research financial aid opportunities, like the College Boards Scholarship Search, which provides details on more than 2,200 programs. Last year, roughly 2 million students missed out on government grants—simply because they didnt apply. Make sure youre not one of them by learning the ins and outs of financial aid now. Check Your Credit Score If your credit report is like a report card for grown-ups, then your credit score is your GPA. Graded on a scale of 300 to 850, this three-digit number helps determine the interest rates on loans you apply for—and a higher one could mean big savings on interest payments over the life of the loan. Last month, we featured the story of one woman who almost lost the house of her dreams because she hadnt been monitoring her credit score. Start taking control of yours by reviewing your score for free on CreditKarma. If its lower than youd like, dig into our step-by-step guide to help improve your number. Look Into Starting a Side Gig On LearnVest, weve dedicated this month to helping you grow your income. Stay tuned for thematic stories throughout the next few weeks—everything from mastering the art of a counteroffer to how one man holds down a lucrative, part-time side gig on top of his 9-to-5. Once youve soaked up some inspiration, wed like you to tackle this to-do: Research how you might bump up your income this year. Could you bring in extra cash using an existing skill? Or have you always been itching to try your hand at a side business? Well, nows the time—and this month, well help you get there. Your May 2014 Financial To-Dos | LearnVest LearnVest is a program for your money. Read our stories, use our tools and talk to a Planner about getting a financial plan designed for you. LearnVest Planning Services is a registered investment adviser and subsidiary of LearnVest, Inc. that provides financial plans for its clients. LearnVest Planning Services and any third-parties listed, discussed, identified or otherwise appearing herein are separate and unaffiliated and are not responsible for each others products, services or policies. Want to see your work on Lifehacker? Email Andy.
Posted on: Mon, 05 May 2014 22:53:49 +0000
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