Keep Your Financial Goals on Track in July!
July is the time of the year to re-evaluate your financial situation. Below is a brief July To-Do List, which you will find useful.
Review Your Withholdings
If you received a huge tax refund in April—or if you got slapped with a large tax bill—you may need to adjust your withholding amount. By doing this in July, there’s still time to make a difference before next April. You can make the change by requesting a W-4 form from your human resources department, a step that can mitigate the financial shock at tax time.
You might also need to adjust your withholdings if you’ve had a big life change since last year, such as getting married, buying a house, or having a baby. This TurboTax calculator (https://turbotax.intuit.com/tax-tools/calculators/w4/) can help you figure out the right amount.
Use Less Water
Hot, dry summer days may have you watering your lawn more often, but you may be doing more harm than good—to your grass and your water bill. Letting your grass grow a little longer can reduce the amount of water it needs. Allow it to reach about 4.5 inches before mowing it back to 3 inches and you’ll cultivate deeper roots that require less water.
Turning on the sprinklers just once per week is plenty. Schedule your weekly watering for early morning because evaporation rates are lower and the soil will be able to absorb more water.
Prepare For Dangerous Weather
Depending on where you live, hurricanes, tornadoes, wildfires, and floods occur more frequently in the summer, so it’s important to make sure that your home is properly insured. Make sure that your insurance covers the replacement value (the cost of labor and materials to rebuild your home).
One way to keep your premiums lower is to get a policy that bundles home and auto insurance. You may also get a discount if you have an alarm system. Keep in mind that standard insurance doesn’t typically cover hurricanes, floods, or earthquakes, so if you’re in an area prone to such disasters, consider investing in an additional policy.
Also, make sure that you have enough cash in your emergency fund to cover the deductible if you need to file a claim. Though the typical deductible is around $1,000, you could owe up to 5 percent of your home’s insured value for damages due to severe weather such as wind or hail.
Another good idea: Make electronic copies of key financial documents, such as insurance policies, bank accounts, and tax returns. Walk through the house with a video camera to create a home inventory, which will make it much easier to file a claim.
Buy Products on Deep Discount
Research by Consumer Reports’ product experts, who track prices year-round, shows that July is the best month to buy a number of products. You’ll find discounts on refrigerators, dehumidifiers, sunscreen, gym memberships, and roofing (yes, roofing). Also this month, be sure to also look for deals on other major appliances, including washing machines, dryers, dishwashers, ranges, cooktops and wall ovens, freezers, and built-in microwaves.
Consider a Car Title Loan to Help
If you find yourself needing a little extra cash to help you out with any of these things, consider a short-term car title loan with Coastal Title Loans & Finance, LLC. All you need is the title to your car, a valid ID, full coverage insurance (if you have it), and proof of residence. No Credit check!
It’s fast, easy and useful in many situations, in which a little extra cash can really make a big difference.
Call Coastal Title Loans & Finance at 714-701-8555, apply online http://www.coastaltitleloans.com/apply-now.html, or come by our Westminster, CA office now. Ask about our current rate specials and how you can earn at least $100 commission on each referral!