Budget Check Up: Tax Time is the Right Time
Our wealth advisor recommends that our members review their budgets each year as a very important step in financial wellness. Here's an article that outlines six-steps to effectively achieve an annual budget review.
Every year, about 140 million households file their federal tax returns. For many, the process involves digging through shoe boxes or manila folders full of receipts; gathering mortgage, retirement, and investment account statements; and relying on computer software to take advantage of every tax break the code permits.
It seems a shame not to make the most of all that effort.
Tax preparation may be the only time of year many households gather all their financial information in one place. That makes it a perfect time to take a critical look at how much money is coming in and where it’s all going. In other words, this is a great time to give the household budget a checkup.
Click the button to read more about the Six Step Budget Process.
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