10 Smart Money Moves to Make Now, Before 2015 Ends | MTN

Here are 10 end-of-year smart money moves to make now, some which you can do during commercial breaks while watching TV, via MoneyTalksNews:

1. Change passwords. It’s a good idea to update passwords at least once a year, especially for banks, credit cards and other sensitive accounts.
2. Request a free credit report. Federal law entitles you to one free credit report a year from each of the three major credit reporting agencies. Make sure you request them from AnnualCreditReport.com. It’s the only website authorized under the law to provide free credit reports. Other places that advertise “free” usually have a catch.
3. Review your FSA balance. While a rule enacted in 2013 permits employers to let you roll over up to $500 in your flexible spending account (FSA) to next year, it doesn’t mean they are required to do so. Find out your employer’s policy. If they don’t let it rollover, use a commercial break to shop for qualified expenses. For example, refill a prescription.
4. Complete an investment review. Check your investment performance, review your fees, and reallocate balances if needed. You can do it in 15 minutes or less.
5. Sell losses to offset gains. While you are reviewing your investments, look for losers and consider unloading them. This can offset investment gains you’ve made throughout the year, thus lowering your tax bill.
6. Scan and shred paperwork. Ask (or pay) your teen to shred the paperwork that’s been piling up all year. Or turn up the volume on the TV and shred them while watching an old movie. But don’t shred these documents that you should keep!
7. Make a will. If you have a simple estate, it won’t take you long to make a will. Search online for a “will template” for the state where you live. There are all sorts of fill-in-the blank templates out there you can use for free. You can always have this will reviewed by an estate attorney at a later date. Having a simple will like this is better than having no will at all.
8. Create a budget. There are many sites and apps out there to help you. Or you can use one of our excel budget spreadsheets.
9. Update beneficiaries. Things may have changed in your personal life this year. Make sure you have the correct beneficiaries listed on your life insurance, annuities, bank accounts or retirement accounts.
10. Purge the excess and get a tax deduction, too. During the next commercial break, grab a bag and hurry through your room picking up everything you no longer love or need. When folding your laundry, set aside clothes that no longer fit or that you don’t want anymore. Then take it out and put it in your car. Next time you are out, drop the bag off at the local Goodwill, Salvation Army, or other thrift store. Be sure to ask for a receipt for tax deduction purposes. To get the most of your deduction, make a list of the items you donated and at tax time find a donation value guide either online or in the tax software you use.

Make the most of these last months of 2015 by doing these 10 easy smart money moves.

For the full article from MoneyTalksNews, click here.