Top 7 Year End Money Moves That Only Take A Few Minutes -

Top 7 Year End Money Moves That Only Take A Few Minutes

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The Top 7 Year-End Money Moves are short on time and long on the savings. The Top 7 Year-End Money Moves are short on time and long on the savings.

You'll hear a lot of New Year money makeover stories over the next few days. But we went out in search of expert advice that won't take you longer than a commercial break to accomplish. And you'd be surprised what a difference these steps can make.

Here are the Top 7 Year-End Money Moves that are short on time and long on the savings.

Number 7: Get Your Free Credit Report

By law each year you get one for free from each of the 3 major reporting agencies. Converse College Finance and Law professor Tom Maynard warns, the score, itself, isn't important unless you need a loan, so don't be tricked into paying for it.

"If you otherwise have a good credit report, I don't think you need to worry about it, you're probably going to have a good score," says Maynard.

Number 6: Change Your Passwords

After all those online Holiday purchases, it's a good time to change your bank, credit card and other account passwords. Online password managers can help you pick and remember them.

Number 5: Update Beneficiaries

Did you get married, divorced, have kids? Make sure any changes are noted on your retirement, life insurance and bank accounts so the right people get your money if you should pass away.

Number 4: Scan and Shred Paperwork

Experts say you should safely get rid of most documents older than 3 years. Hanging on to old credit card statements will only counteract your attempts at staying organized.

Number 3: Purge The Excess

Gather up the stuff that's gathering dust and give it to charity. You'll get a tax deduction while helping the community.

Number 2: Review Your Flexible Spending Account

If you have any excess funds, spend it on refilling prescriptions or a new pair of glasses before your contributions disappear.  A new law may allow some to roll over $500, but many employers are not yet honoring that.

And Number 1: Create A Budget

Free online budget services like Mint or PowerWallet make this step a breeze. They automatically track your spending so you can see where to save.

"This is what a budget will force you to do, you may have a subscription, or have some sort of service on your phone or some service on your cable and say, well it's only $8 a month, well that's $100 a year. And so if you shave this off and that off, before you know it, you have $500 more than you didn't have before," says Maynard.

All these steps won't cost you much time but could save you money and stress in the New Year.

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