New Year, New Opportunity to Save Money

Related topics: Financial Planning, Financial, Getting Organized

If your financial well-being is as important to you as your physical well-being, the nonprofit National Council on Aging (NCOA) has a new, free tool for you—EconomicCheckUp® (www.economiccheckup.org). Answer a few simple questions and learn how you can better manage your budget, save money, and set financial goals.

In addition to getting a customized report about your economic well-being, you can also find other resources to help maximize your money:

  • Spending calculators. Maybe you're planning to buy a big ticket item in 2014, like a car, or perhaps you just want to pay down your mortgage before you retire. Whatever your goal is, the site's spending calculators can show you how small changes in your budget can add up to big savings over time.
  • Debt reduction planning. Do you know how much your debt is costing you in interest or how long it will take to pay it off? Learn the (sometimes painful) truth with this handy debt calculator tool, and get tips for how to reduce debt faster.
  • Employment resources. While some older adults continue working beyond retirement because they need the money, many also do so to gain personal fulfillment. Whether you're emerging from a period of unemployment or want to explore an "encore career" in your later years, you can use EconomicCheckUp's job tools to assess your skills, find training opportunities, and seek new work.
  • Home equity advice. Whether you're interested in home modifications, protecting your home from bankruptcy, or tapping your home equity, there are many family, health, and financial factors to consider. The home equity QuickCheck tool can lay out the options you have to age in place and protect the value of your home.

All EconomicCheckUp® tools are free and confidential to use. Make it your resolution to get a financial check-up this year!

Source: The National Council on Aging is a nonprofit service and advocacy organization whose mission is to improve the lives of millions of older adults, especially those who are vulnerable and disadvantaged. NCOA is a national voice for older Americans and the community organizations that serve them, and works with thousands of organizations across the country to help seniors find jobs and benefits, improve their health, live independently, and remain active in their communities.