Manage your will money

Does your will take into account recent changes in your life, such as marriage, divorce or other passages in your own or even in your children’s lives? Do your loved ones know where to find important documents (including your will and information about your bank accounts, investments, etc.) if something happens to you? If not, now’s the time to create a current will and make sure that it and other key papers are accessible to loved ones.

Can you renegotiate some payments?

Most people pay a long list of bills every month. What’s the best way to reduce your payments on all those bills? Sometimes all you need to do is ask. Many companies are scrambling to keep customers, so they may be very open to renegotiating rates. That includes the companies that supply your cable, cell phone service or your landline, as well as those that provide your Internet service and a host of others.

Can you reduce credit costs? While you’re renegotiating deals, don’t forget your credit card company. If you have a good payment history, call the company and suggest they lower the interest you pay. If they refuse, make it clear that you plan to look for a better rate elsewhere. That shouldn’t be an empty threat: It’s always a good idea to keep an eye out for better credit card deals. As part of this process, use the American Institute of CPAs’ 360 Degrees of Financial Literacy Credit Card Optimizer to decide the best distribution of your credit card debt. And remember that a good credit score will help you qualify for the lowest borrowing rates.