Starting a New Year is a GREAT time to start putting your fiscal house in order. The month of January, we will focus on tips to do just that.
This week, Reviewing your credit report may not seem like a savings tip, until you consider how much extra you could be spending on a high-interest loan due to errors on your credit report! If you’ve never reviewed your own report, I would suggest starting by obtaining a copy of all three major reports from AnnualCreditReport.com. Once you’ve taken care of any initial issues or errors, begin pulling one credit report every four months. This way, you’ll never go longer than four months without reviewing one of your credit reports. In the event someone attempts to steal your identity, your credit won’t be a train wreck before you can identify the issue and control the damage. Bonus tip: Save the money you pay toward monthly credit monitoring and do it yourself!
This week, we travel to Racine County. Here’s a look at the Top 5 people and businesses there with unclaimed assets. Do you see anyone on this list you know? If so, have check out www.wismissingmoney.com and search their name to make a claim. They can also call 855-375-CASH (2274)
Gail M Lloyd
Ganton Technologies Incorporated
Today at 11am, Matt Adamczyk was sworn into office as Wisconsin’s 35th State Treasurer.
Saving For College
A college education is the ticket to the middle class in the United States. But it’s an expensive ticket, and the cost rises every year.
The overall annual cost for a college education ranges from about $7,000 for community college to $35,000 for a private school, according to US News & World Report.
Our friends at www.practicalmoneyskills.com help map out a college savings plan that works for you.
Those are some scary numbers. But if you have the benefit of time, they’re not as bad as they seem. Here are some steps you can start taking today:
- Go over your monthly finances and find a little extra money you can put away. Even $50 or $100 can make a big difference. Opening an Edvest (Wisconsin’s College Savings plan) is a great start! www.edvest.com.
- Make a commitment to devote at least that amount each month, and to add to it as your income increases.
- Shop around for the best interest return you can get for your money.
Because the cost of college is rising faster than inflation, it’s smart to invest your savings to get a higher interest rate than a typical bank can offer. Consider putting your money into:
- Mutual funds
Help Paying for College
One important thing to keep in mind is that you won’t necessarily have to come up with the entire cost of college. All higher education institutions offer financial aid in the form of grants and loans. These are most often funded by the federal government. But there are also often aid offerings from the state and from the school itself. Be sure to look into all the options available.