Luckily, if your resolution is to get control of your wallet and have the best financial year yet, U.S. Bank finance coach Margaret Paddock has some tips to help you get started. A new year is the perfect opportunity to set new financial goals and make a plan. Here’s how to get started.
• Order a copy of your credit report. You can get this for free, and you should do it now, if you don’t know your credit score. It’s important to know where you stand with the credit bureaus, and make sure the information they have is accurate.
• Take a look at your investment portfolios. The stock markets ups and downs may mean that you have too much or too little invested in different funds. It’s a good time to reevaluate.
• Automate your financial life. If you haven’t already, move your accounts online and set up automatic payments for bills. Schedule payments so you won’t have to worry about getting behind on utilities or credit card bills.
• Evaluate your debt. If you owe money, this is the time to take a hard look at to whom, how much, and what the interest rate is. Think about applying for a balance transfer credit card to simplify your life and help you get out of debt faster.
• Look at your estate. If you haven’t written a will or made other necessary arrangements for the inevitable end of your life. Do it now. It’s not fun, but it’s vital. You want to make sure your wishes are carried out after your death, so get your documents in order.
• Figure out your charitable giving for the year. Look at what you gave last year, and think about what you’ll give this year. Think about it from a tax perspective. When you can, make donations using appreciated stock you’ve had for over a year, so you don’t incur capital gains.
• Maximize your 401(k) contributions, if you haven’t already. You can catch up by making extra contributions before the end of the year to get to your maximum annual contribution amount.
• Check out your Social Security benefits. When you retire, how much will you get? This is a great time to look over your benefits and strategize about when to claim them.
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At my local bank there was an advertisement that if one enrolls in Alaska airline credit card and spends $1000 in the first 3 months then a travel companion could fly free. Is this still in effect? Does it apply to international trips and 1st class? Does the flight need to be Alaska airlines/ Virgin airlines?
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I once had the US Airways credit card, then the airlines merged with American Airlines and my card transitioned into the AAdvantage MasterCard with a higher annual fee and without companion pass. I use the card one year and then closed it because I don’t fly with American Airline often. Now I am looking for a credit card without an annual fee. What are my options?
You may like one of the regular travel rewards credit cards offered by major banks. Travel rewards credit cards allow earning miles on all purchases. The cards also have one-time sign up bonuses which may be enough for a domestic flight. There are credit offers without annual fees, the other offers come with rather low...
I had the US Airways MasterCard back in 2013 but had to close it because I got divorced and had some troubles with keeping up with my credit cards fees. I’m back on track now and would like to apply for this card again but can’t seem to find it anywhere. Can you help?
The US Airways Premier World MasterCard is no longer offered. US Airways removed their credit card after merging with American Airlines. Today you can apply for one of the AAdvantage credit cards offered by Citi or for a regular travel rewards credit card. Both types of credit cards will allow you to earn miles and redeem...