Financial Year In Review

As we anxiously look forward to the New Year, now is the time to reflect on 2008 and see what we have learned on our path to Financial Wellness.  Our goal is to continually educate individuals on proper ways to manage their finances, inform them on what financial mistakes to avoid and teach them ways to recover from the financial pitfalls that arise in our lives.

So, as 2008 comes to a close let’s see how financially savvy you have become.  We have complied a quiz with questions from each “Topic of the Month” published in 2008.  We encourage you to reference the complete archive for any answers to our “ANH 2008 Financial Year in Review Quiz”.

The complete 2008 “Topic of the Month” articles can be found in the library section of our corporate website by visiting: http://www.anewhorizon.org/library/index.htm.

Make your New Years’ resolutions!  Here’s a suggestion: This year, let your resolution be to increase or start your savings plan.  Make it fun!  Look for creative ways to save and have even more fun discovering ways to earn more on your savings that you might have thought possible. 

1. February – Tax Talk
Your medical expenses must exceed              % of your adjust gross income to qualify for a medical expenses deduction. 

2. March – Where the jobs will be
Name three of the fastest growing occupations that will greatly enhance your income?

3. April – What to do if you find yourself in foreclosure
If you are in foreclosure, out of all the available solutions, what is the most important thing that will lead to the right solution? 

4. May – Identity Theft
A type of alert telling your creditors to follow certain procedures before opening an account in your name or modifying an existing account is called? 

5. June – Credit Scores will be changing
Your FICO score may go up if you maintain various lines of credit such as credit cards, a car loan, and home loan because it demonstrate your ability to                                                                        .

6. July – Saving for Emergencies
Keeping your emergency savings in a checking account is the best place to keep the fund for expenses you won’t need everyday: True or False. 

7. September – Early Holiday Shopping
Name one of the ways to avoid the stress of last-minute shopping and crowded long lines? 

8. October – Earning extra cash when things get tight
What are 3 main ways to pay off your debt and build up your savings? 

9. November – Fix your finances
Determining what your                        are should be the first step in fixing your finances and determining what your goals should be. 

A New Horizon, Credit Counseling Services, Inc. is a member of AADMO.  For a sample spending plan or for help with credit/debt problems, visit www.anewhorizon.org or call A New Horizon, Credit Counseling Services, Inc. at 1-800-556-1548.

Answers:
1. 7.5%, 2. Medical Assistant, Network Administrator, Forensic Science Technician, 3. Communicate with the lender, 4. Fraud Alert, 5. successfully manage different types of loans, 6. False; a checking account provides easy access to funds, a savings account, certificate of deposit, or mutual fund is preferred, 7. Prepare a gift list ahead of the holidays, 8. Get a second job, Earn money from hobbies, and sell your extra things, 9. Values