Pay Off Your Debt in 2018

The New Year is only a few weeks old, and a lot of people are busy making good on their annual goals and resolutions. For many, improving their finances is at the top of the list.

Getting out of debt can be a big and almost overwhelming goal.  It’s not a fast process and it takes a lot of dedication, but it is worth it in the end!

So where do you begin?

First start by getting an accurate picture of where you stand.  Gather up all of your recent debt statements.  This includes credit cards, car loans, student loans, any personal loans or other big ticket items, and your mortgage.

Run your credit report.  You can request a free copy ever year at www.annualcreditreport.com from all three credit bureaus.  This is a great time to check for any mistakes and make sure that every debt on your credit report is included in your list.

Make a debt payoff plan. Create a spreadsheet with all of your debt information.  Include the name of the debt, total balance, interest rate, and minimum payment.

Now figure out what order you want to attack your debt. Some organize them from lowest to highest balance, while others prefer to pay off the debt with the highest interest rate first.  

Whatever you decide, here’s the trick: Once you payoff your first debt, combine that payment with the second debt.  Now you’re paying a lot more then the minimum and it just keeps growing as you go!

Look for ways to keep throwing money at your payoff.  Sell unused items around the house, have a yard sale, clip coupons, or get a part-time job.  Just do whatever it takes to keep your momentum up! 

Get the whole family involved.  Make getting out of debt a family goal!  Put your payoff on the fridge and count down.  Let the kids help with the family budget.  When everyone understands what you’re working toward, they’ll be more likely to cooperate when the budget is tight. 

And how can you find a few extra dollars toward your debt payoff?  Save on your monthly insurance costs!

SAV-ON can help! Call us at 888-867-2866 for a quote on your auto, home, business, and life insurance today.

New Year - The Perfect Time to Get Organized!

Make A Home Inventory

January is all about getting organized, right?  So what better time to document what you own in case you were to suffer a serious insurance loss (like a fire).  

Grab your cell phone and make a short video of each room in your home, focusing on big ticket items.  Many times it’s difficult for our clients to remember every little possession after the shock of a large claim.  Make sure to save the video to your hard drive or the Cloud, so it will not accidentally get deleted from your phone! You’ll be glad you took the time to make the videos if you ever need them.

Deep Clean Your Dryer Vent

A large percentage of home fires begin in the clothes dryer!  Lint builds up in the vent and hose, which can spark a fire.  Unhook the hose and vacuum the area well on a regular basis to keep your home protected.

Organize Your Warranties

Do you have a big pile of warranties, product documents, and receipts stuffed in your desk drawer?  Do you even own those items anymore?  These days, many owners manuals can be found online without taking up valuable drawer storage.  
Also consider scanning and keeping a digital file of your receipts and warranties for easy storage and retrieval if needed.  

Check Your Circuit Breakers

How often do you actually look in the breaker box?  Open it up and make sure the labels are correct and readable.  Also stash a spare flashlight (with working batteries) close by in case of a power outage.

Gather Your Tax Documents

It won’t be long until you’re filing your 2017 taxes.  Start gathering up all the documents you or your accountant will need.  If you find you need a copy of your insurance policies or premiums, call SAV-ON at 888-867-2866 and we’ll be happy to help!  

Know Your Deductibles

When was the last time you reviewed your deductibles?  This is what you would pay out of pocket in the event of an insurance claim.  It’s a good idea to keep this amount in your savings account so it’s available when you need it.  

Feel free to give us a call @ 888-867-2866 or go to www.sav-on.com. We can setup an appointment to review all of your insurance policies in detail.  

January is a great time to get organized for the new year!  Let us know if we can help in any way!  

Happy New Year!