Doing Your Taxes? Review Your Finances!

Every year about this time, lots and lots of people start on their taxes.  Gathering the proper forms, W-2’s, 1099’s, etc., going through the appropriate receipts, and then actually starting to prepare their annual income tax returns (or taking them to a tax professional to prepare for them.  It’s a lot of work for some people and not so much for others.  But, you know what truly makes sense to do when you do your taxes?

Review your overall financial picture, too!  That’s right, you’ve already dug up your earnings, you’ve already reviewed your expenses, and you’re getting closer to knowing exactly how much you will have to pay or be refunded on your 2020 tax return.  So, why not go one small step further?

  • Take a look at your credit report!
  • Review your credit card balances!
  • Review your interest rates!

Where can you improve your credit score?  How can you improve it?  Are your credit card balances too high?  Are you paying too much interest?  Perhaps your overall credit situation has changed and you now qualify for better credit cards with better interest rates?  Maybe a personal loan makes sense?  And maybe, just maybe, you’re doing pretty well this year!

The simple fact of the matter is, you will never know unless you take the time to go over your finances.  And there is no better time than right now, when you already have the information in front of you.  So, what are you waiting for?  Get to work on your finances, too.