Elvis dolls, having a competent, trustworthy appraisal done. You should make copies of all documentation and keep the originals in a safe place. This way you will have copies of the account numbers and a history record should it be needed. Be sure to include life insurance accounts in this search. Term life insurance does not accrue cash value, but it is good to know what you would have available to you if your loved one dies. Find out when the term of the insurance expires and what renewal options may exist. Whole life insurance accumulates a cash value over time as well.

All payments should be considered, and a copy made of the most recent statements should be added to your file.Last but most importantly, is to find out where your money is going. Every last dime of it. Not only from the monthly bills, but everyday expenses. It’s not a lot of fun, but keep a little notebook handy for a month and track expenses. You need your partner to do the same as well or at least give you the receipts so you can track things. If you meet a lot of resistance, you may have to resort to asking questions, making estimates or, as a last resort, snooping around to find out.

You have the right to know.Once you have completed the information gathering process, you will begin to have an idea of your true financial health. The next step in this series will be to conduct an honest, straightforward appraisal of your financial health.SummaryOne of the first steps on your journey to financial security is to know what your present state of affairs is. Otherwise, how can you map out a success strategy if you don’t know where your starting point is?

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