Halloween can be fun, or it can be scary. Generally, we can choose whether we want to focus on fuzzy black kittens and smiling jack-o-lanterns or go through extreme “haunted” houses and watch slasher movies. Of course, sometimes, truly awful things happen, and these stories leave us disturbed and shaken. Our money also can be frightening, and events in both the economy and our personal lives can leave us afraid. Here are a few tips to make your money less scary:
- Begin saving an emergency fund. Some extra money in the bank makes unexpected bills easier to pay.
- Review your portfolio for its level of risk and proper diversification. It is easier to withstand market volatility when you know your investments are appropriate.
- Check your levels of insurance to see if you have enough coverage in case you become disabled or die. Also, review your homeowner’s policy and automobile insurance to be sure that the type and level of coverage is appropriate.
- Create estate documents so your heirs can inherit your possessions in the way you desire.
Of course, your financial planning needs are broader than this, but if you completed these tasks in October, you would make major progress toward your prosperity. Now, about the monster that lives under your bed……..