Tips to make sure your financial house is in order - WTOC-TV: Savannah, Beaufort, SC, News, Weather & Sports

Tips to make sure your financial house is in order

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A recent consumer survey by the Georgia Credit Union Affiliates showed that 47.2 percent of respondents did not have a will and 35.8 percent either do not have life insurance or feel like they need more.

Nearly half have not checked their credit reports for inaccuracies in the past year and 26.7 percent do not regularly monitor the performance of their retirement accounts.

Keeping finances in order is very important, and having a will avoids unnecessary legal issues for families.

Here are ten tips provided by the Georgia Credit Union Affiliates to put your financial house in order:

  1. Update your will as needed
  2. Take a video tour of your house for insurance documentation and store it in a safe deposit box
  3. Make sure your personal information is up-to-date with all financial vendors
  4. Update the beneficiaries for all your accounts and insurance policies
  5. Review your insurance coverage and make necessary adjustments
  6. Check your credit report for any errors (you can request a free copy of your credit report by visiting
  7. Reassess your retirement plan and monitor retirement accounts
  8. Examine loans for refinancing opportunities 
  9. Go through financial files and toss what you don't need (keep tax returns forever, but throw away supporting documents after six years)
  10. Make a comprehensive list of financial information including all accounts, property deeds, insurance policies, estate plan and living will
  11. Make sure a spouse or family member knows how to access these records

For more information visit

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