Submitted by TERI TREADWAY , Wednesday, 26^th September 2007

Fall is a great time to assess your finances and track the progress of your financial goals. Taking time now could potentially increase your savings by hundreds of dollars next year. Here are a few key areas to monitor:

Budget
Review your household budget or spending plan. This plan should include estimations for monthly expenses such as groceries, mortgage and transportation. By evaluating your income and expenses over the last several months, you can decide if some areas need adjustment. Check with your financial institution for online money management services that may be able to assist you. Some banks also offer online spending reports, which can be an easy method for viewing your expenditures.

Taxes
Did you receive a sizable refund or owe a substantial amount of money in April? If you owed money, now’s a good time to make modifications for next year by projecting your taxes for the year and changing how much you will have withheld from your paycheck. If you received a refund, it could suggest you are overpaying taxes, and that’s money you could be investing. To reduce the size of the refund, increase the number of allowances you claim on your W-4 form at work. If you consulted a tax advisor, consider scheduling a meeting to discuss your other options.

Fringe Benefits
In the fall, many employers hold open enrollment for benefits such as health care. If your family circumstances have changed, this may be a good time to determine what plan will benefit you and your family the most.

Retirement Accounts
Make sure your retirement accounts are working for you. Review your 401(k) and IRA portfolios. Should you increase or decrease your contributions? Do you want to change your portfolio to higher or lower risk? Now might be a good time to consult your financial planner and see if your retirement accounts are reaching their full potential.

Investments
Review your portfolio’s performance and make any necessary adjustments. Compare your investments’ performance against index funds that track the same types of investments. You should also consult annual reports to rate your investments’ performance against the expected performance.


* The information provided is not intended to be legal advice; individuals should consult their tax consultant and/or financial advisor.


For information regarding a home loan - or a review of your existing mortgage information, please call Teri Treadway @ 832-379-0600 or visit www.teritreadway.com.

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