4 Things You Can Do To Check Your Financial Health

What if I tell you that an hour spent today giving your finances a checkup might be the best financial decision you can make and that it can pay you dividends for a life time.

You may have been reminded to get your physical checkup but when was the last time that anyone reminded you about the importance of an annual personal finance checkup?

Well that is my role and now that we are halfway through the year, it’s a good time to get it done. So here are four things you can do.

1. Check Your Savings

Do you have at least three to six months of your living expense saved in an account that is easily accessible to you? I understand that things maybe a little tight but nothing is more important than having peace of mind account. So if you are not there yet start putting as much effort into getting there as soon as possible. And making your saving automatic by salary deduction may be the way to go.

Trust me this will be one of best decision you can make.

2. Get Organized

Having your finances properly organized is one of the most overlooked and underrated keys to getting the most from your money.

Do you have any idea how much money you’re spending on specific items during the month? If not, you should. I assure you take a look at your spending that there will be some surprises that will make you want to change a few things.

So go ahead and

1. Create a spending plan, and use it to track exactly where your money is going.
2. Create a secure location for all your vital documents. This will make it easy for you to access this important information in the event of an emergency.

3. Check Your Investments

When you go to the doctor for a checkup, certain things are more painful than others. Your investment maybe one of those thing. I have lost more than 23% of my BISX's holding this year alone! So, this investing checkup will hurt … but you must do it!

1. When was the last time that you checked your brokerage statement?
2. Do you know how much money they have lost? Check your statement now.
3. Do you know what you paying your brokerage house each month or quarter?

4. Check Your Estate Planning

If the statistic were known you would be shocked at the number of Bahamians that do not have a will.

If you don't have a will I suggest that you get one as soon as possible or the government will be deciding how your hard-earned assets are distributed when you pass away.

If you do have a will and have had any major life changes in the past year, such as a death in the family, divorce, birth of a child, grandchild, inheritance, major sickness, etc., then it’s time to update your will.

Even if you haven’t experienced a major life change, it’s a good idea to review your will every few years to be sure your beneficiary designations on Life insurance and accounts accurately reflect your current wishes.

So go ahead and see how healthy your finances are!

Are You Ready For A Fire?

It was unfortunate to hear of the 77 year old man that died earlier in the week as a fire at the home he shared with his wife of 53 years. The gallant lady was able to
pull three of her grandchildren from the burning house but not able to help her bed ridden husband as smoke overwhelmed her. Not only did this dear lady lost her husband but all of her possession.

While there is no way to replace a life there are a few precautions that may have changed the out come. So, here are three things you can do to be ready in the event of a fire.

1. Install A Smoke Detector. This little device could be a life saver as it will alert you early to the presence of smoke. And you know where there is smoke there is usually fire.
2. Replace The Batteries In Your Smoke Detector. If you got a smoke detector be sure to replace the batteries. A rule of thumb is to replace the batteries at the same time you change your clocks - switching from daylight to eastern standard time.
3. Get A Fire Extinguisher. Your ability to take action is greatly enhanced if you have a fire extinguisher. So get yourself at least one and put it in an easily accessible place, usually the kitchen.

And how do you recover from a fire if all else?

The answer is Home Owners Insurance. Whether it's to repair damages or replace what you've lost. Your ability to recover from any disasters is heavily dependent on your insurance coverage. But you have got to avoid these mistakes.

1. Not Insuring Your Home. Your house is your home and castle and the largest investment you may ever make - the least you can do is to insure it.
2. Under Insuring Your Home. One of the most common mistake homeowners make with their homeowners insurance is to undervalue their home and possessions. It is estimated that 70 percent of homes in the Bahamas are under insured. Many people do not insure their home to its full replacement cost. The full replacement cost is how much it would cost to rebuild the house on the land it sits on now — not the value for which you could sell your house today. It is also not the amount you current owe the bank.
3. Not Insuring Your Content. If you experience any loss to items inside of your home they are not covered by the building insurance. This is why it's very important to insure your contents and to keep an up-to-date home inventory list so that you can adjust your coverage to protect these items as needed.

So take the time to prepare by checking with your insurance carrier or agent now rather than later and make sure you have adequate coverage for your personal situation, and that your home and content are adequately protected.

Traverus Travel

Have you ever dreamed of starting your own online global business? How would like the opportunity to create the amount of income you desire? And the chance to present others with the same unique opportunity? Then Traverus Travel may be the business you have been looking for.

Travel is a $7 trillion dollar worldwide industry, because everyone loves to travel. And you could be booking travel for others as a certified travel agent, from the comfort of your home.

That’s right, TraVerus will get you the training you need to become certified, and ongoing training to learn how you can book travel with any of the top travel vendors like Carnival, Marriott, Royal Caribbean, Disney and many more.

As a certified travel agent with TraVerus, you will be earning commissions of 75% or higher, on all the travel booked directly through the vendors, and your travel booking website.

Advertise all the great travel packages offered through TraVerus Travel. Invite your family, your friends and neighbors to check out your personalized travel booking website, which comes complete with one of the best travel portals for booking these dream vacations.

You will also have the opportunity to build your own team of TraVerus travel agents, help train others to start their own travel business, and be rewarded for your efforts.

I’d love you to become a part of our TraVerus team. Click Here and let get all the information you need on how you can get started with TraVerus

Winners quit all of the time

You hear it all the time that "Winners Never Quit" but do you know that Winners quit all of the time?

They quit doing the things that don't work so they can focus on what does.

And this is what I am asking you to do beginning NOW so that we can restore decency and sanity to our communities.

Since writing "Your Attitude Must Change..." I realize now that its going to take a lot more action and why I'm asking you to quit being passive and indifferent to these grossly offensive indecent and immoral happenings and become involved in your own way to rid ourselves of this scourge.

You must begin to be outraged and let that outrage show so that the authorities will know that we will not continue to accept the flaws that are so prevalent in our courts and legal system.

So this week let's quit ringing our hands and realize that together we can make a difference!

Wishing You Health & Wealth!