Wise money moves

Here are some wise money moves for you to make:

1. Tithe and donate money to others. God will provide for your needs.
2. Make sure you get a will and a living revocable trust done before the year is out.
3. Make sure you get a good term-life insurance policy. If you have universal, whole life, or anything other than term life insurance, cancel them after you get your term-life insurance.
4. Fully-fund or max out your IRA or ROTH IRA. If you don’t have one, then open an IRA or a Roth IRA now for 2014 and max it out. Then in 2015, max it out again.
5. Sell any investments in which you have losses, so you can write them off on your tax returns.
6. Make sure that your mutual funds expense ratios are more than 1%
7. Adjust tax exemptions to ensure that you are not going to get a large refund next year. Otherwise, you are giving the government an interest-free loan. You should be earning the interest on the money or paying down debt with that money.
8. Protect yourself from identity theft. Get identity theft protection from either All Clear ID or Life Lock. You can also freeze credit reports to
9. November 15, 2014 start the health care insurance open season. Make sure you get health care insurance for yourself and your family.
10. Make sure that your designated beneficiaries are up to date on your policies.
11. Look at your monthly living expenses for this past year. Make sure your income is going to cover them each month. Use a monthly money binder (budget) to track your income and expenses,
12. Use cash to pay for your transportation, food, entertainment, clothes & gifts, allowances, co-pays for medical & dental expenses, and bank fees.