Happy New Year!

In the spirit of new year’s resolutions, we would like to help you Simplify, Organize and Execute.  Here are three areas that come to mind for the new year:

Taxes – Soon, you’ll be receiving your 2020 tax documents.  Be proactive and create a file, it can be digital or a hard copy, to help you easily file them away as they come in.  Also, track down your previous year’s tax return to refer to for any missing documents when gathering items for this year’s tax return.  Getting a head start will make life a lot easier come tax time in April.

Spending Plan – Take time to create a spending plan for 2021.  Begin with a comparison of what you spent in 2019 and in 2020.  Many of you will will find things you did without in 2020 because of the Covid-19 lockdown. Build your spending plan from there.  Include your variable expenses as well as any big-ticket items such as vacations, home renovations, weddings, college etc.  Consider using different accounts for different expenses if you’re having a hard time sticking to your spending plan.  The investment of time to plan for 2021 will help reduce the amount unexpected expenses.

Insurance Update – Gather your insurance policies and make sure all your coverages are appropriate.  Remove any items you no longer own, check liability limits and verify any new purchases you have made are covered. It’s never fun to do, but getting it over with now, will give you peace of mind for the coming year.

 2020 has taught us some interesting, and sometimes hard, lessons.  Start fresh in the new year but learn from these lessons and prepare now for whatever it is that 2021 will bring our way.   


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