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Last-Minute Financial Checkup Could Add Hundreds ⁢to Your Pocket

WASHINGTON – With the year winding down, a focused hour of financial review could unlock hundreds⁢ of dollars in savings ⁢and unclaimed funds, experts say. From forgotten subscriptions to overlooked retirement accounts,simple ⁤”financial fixes” can significantly boost your bottom line – and require minimal⁤ effort.

Financial planners emphasize that small adjustments, ⁣consistently applied, can yield considerable long-term benefits. “Often, ⁤it’s about identifying ‘money leaks’ and plugging them,” explains​ Ted Rossman, a⁤ financial expert. “These aren’t necessarily⁤ huge changes, but they add up.”

Here are eight ‍areas to‌ address for a quick financial ‍win:

1.‌ Shop Around for Car Insurance: Regularly comparing quotes from diffrent insurers is crucial. Prices fluctuate,and you may ​be overpaying for⁤ the same coverage.

2. Look for Unclaimed Assets: Millions of⁣ Americans have ⁤unclaimed cash in lost or forgotten accounts, including old bank⁣ accounts, uncashed paychecks, and left-behind 401(k)‍ accounts. Resources ‌like Missing Money serve as clearinghouses‌ for ‌unclaimed property.For forgotten 401(k) money, check ⁣the National Registry of Unclaimed​ Retirement Benefits.

3. Audit Your ‌Subscriptions: Many consumers unknowingly pay for subscriptions‌ they don’t use. The average ‍American has approximately 12 media subscriptions,and a recent CNET survey revealed⁣ that ​unused subscriptions cost Americans around ⁢$200​ annually. Review recent account activity and cancel forgotten services.

4. Raise‌ Your 401(k) Contribution: Increasing your retirement savings,⁢ even by a small percentage,⁣ can have a critically important impact. The maximum‍ 401(k) contribution for 2025‌ is⁤ $23,500, with higher limits for ‍older savers. “If ‌you’re saving 10%, can you make it 11?” Rossman suggests.”You problably won’t even miss the money.” 401(k) ⁤savings rates recently reached an all-time high,but maximizing contributions ​remains key.

5. ‌Review Credit​ Card Rewards: Ensure you’re maximizing the rewards offered‍ by your credit cards.Utilize cash-back programs, travel points, ⁢or other perks.

6. Check for ⁣Bank Fees: Scrutinize ⁣your⁢ bank ⁣statements for ‌needless fees, such as monthly maintenance fees or overdraft charges. Consider switching to​ a bank with lower or no fees.

7. Negotiate Bills: Don’t hesitate to contact ‌service providers – internet,‌ cable, ⁤phone – and negotiate lower‍ rates. Competition is fierce, and companies​ are often willing to offer discounts‍ to retain‍ customers.

8. Utilize Cashback Apps and​ Websites: Take​ advantage of‌ cashback apps and websites⁢ when making purchases. These platforms⁢ offer rebates on everyday items, providing additional savings.