Your 2012 Money Guide | USAA
Another great 12x12, this time for getting your finances in good shape this year. Tailored to the USAA member (one of the best memberships you can have, IMHO) but a good prompting for everyone needing a gut-check on what you should do above and beyond checking your credit score, adjusting your withholding allowances, and filing your income taxes on time.
August:
Boost your energy efficiency.
- You can save money on your utility bills and on your taxes at the same time. If you install a geothermal heat pump, solar energy system or small wind turbine, you may be eligible for a tax credit that’s equal to 30% of your cost — with no upper limit.
- Tax credits like this can be more valuable than deductions — they reduce your tax bill dollar for dollar. Visit the federal Energy Star site for details.
Take a hard look at your bank.
- Your bank is at the center of your financial universe, so make sure it’s giving you what you need.
Get the most for your money.
- With interest rates low, it takes a little more work to earn a meaningful return on your cash. Consider using certificates of deposit.
It’s pretty expansive, shedding a better light on just how much of your life can be considered significant in your “financial literacy.” For instance November:
Have a heart-to-heart talk with your parents.
- Use the holidays to set aside some time to ask your parents about their financial situation.
- Make sure they have a sound retirement income plan, have addressed the potential need for long-term care and have all the right estate planning documents.
If, like me, you get annoyed by the multiple web pages, go through it just once with paper and pen at your side (or with your digital preference, like Evernote) and grab what you need on your own “To Do” listing —- then get it done!
Also from the USAA newsletter: 13 Tax Deductions You Can’t Ignore
