Before you look at their grades in English, Math and Science, Bank of Luxemburg wants you to “make the grade” when it comes to your finances.
We’ve coined September Financial Report Card Month. Here are three ways to get an A+ this year:
- Order a Free Credit Report: Seeing your credit score gives you a look at your financial standing with creditors and other decision-makers. Examining your credit report can also be a wake-up call if it becomes clear you need to make some changes. Visiting AnnualCreditReport.com is a good way to get started.
- Review Your Family Budget: Are the kids joining some new after-school activities? Are your relatives descending on your house for the holidays this year? No matter what your family is planning, make sure you account for those related expenses in your budget. It’s also a good idea to save some money for unexpected costs that inevitably pop up throughout the year.
- Review Stocks and Insurance: Take a look at your investment portfolio and insurance needs regularly. Do you need to make some adjustments to your 401(k) plan? At the same time, remember that investment portfolios are meant for the long run; ups and downs are common in the stock market. Also, make sure the insurance you have is still appropriate for your family’s changing needs.
Financial Report Card Month is designed to help you make an honest assessment of your finances. If you think you could use some “tutoring” to improve your financial grade, please contact or visit your local Bank of Luxemburg.
Chief Operating Officer Rebecca Edler has a video study guide for you (feel free to take notes!):