|Dynamic Chiropractic – March 11, 2002, Vol. 20, Issue 06|
By Stanley Greenfield, RHUKISS - I'm sure you've heard this acronym before: "Keep It Simple, Stupid." Not a bad phrase to remember. Why not apply this idea to your financial life? Let's see how that might help you.
Credit Cards - How about getting rid of all those extra credit cards you have in the bottom of your sock drawer? Did you know that even if you haven't used that card, it still reflects on your credit report as a potential liability? That could affect you when you apply for a mortgage or a loan.Don't just cut up the card. Send a letter to the company to request that the card be canceled, and ask for written confirmation.
Policies - When was the last time you had an overall review of your property and casualty insurance? You could have gaps and contracts that overlap. Either one is not good. Call your agent and ask for a review of what you have, and see what you really need and don't need. It could even save you a few bucks.
While you're at it, this might be a good idea to review your life insurance. Have your needs reduced or increased? Got more debt and more kids? By the way, that "cheap" term insurance that you have had for a few years may not be so cheap now. Check it out and see what you really need. It is better to review it now instead of putting it off until you don't have any options.
Retirement Plans - Got a retirement plan? Is it the best one for you? Are you sure? Will it be enough to allow you to retire and stay retired? Why are you paying for all the "bells and whistles" that you have on your plan? Do you really need them? Don't have a plan? You aren't getting any younger!
Here is an interesting statistic for you to think about. In the United States, brides devote 180 hours and an average of over $16,000 to planning a one-day wedding. Many of them even seek the guidance of a professional bridal planner. How much "time" have you devoted to your retirement planning, which will last a lot longer than one day?
Investments - Have you checked those mutual funds and stocks that were sure winners recently? Maybe it is time to clean house and get on a good program that could possibly make you some money. Do you have a program? Maybe it is time to start one.
Overhead - Maybe you need to apply KISS to your office. Does your number of employees almost equal the number of patients that you have? Is it time to take a good, long look at your office and maybe think about applying the KISS philosophy?
Is that what you do with money - kiss it all good-bye? You can establish this philosophy" when it comes to money. A good rule to start with is to spend less than you make. It may sound simple, but you would be surprised at how many people do not understand that concept! You might even want to get radical and set up a budget.
Ready for another basic concept? How about establishing a savings program? It may sound a little old-fashioned, but it can sure come in handy at times. Why not give it a try?
You might want to take a good long look at your banking relationship and see how KISS may save you some money. You should review your statements and see what you are paying in fees for them to hold onto your money and let you use it every now and then. And to think they wanted to put Robin Hood in jail for what he did! Like I said, a little KISS here could really simplify your life and save you a lot.
Take a look at every aspect of your life and see if a little KISS would make things easier to control and make your life more enjoyable. Is it so complicated? If it is, KISS it good-bye!
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