Melty red popsicles, sticky sunscreen, naps on lawn chairs…
Summer is finally arriving and we’re all about it. Especially after months of quarantine staring at nothing but our family members and our living room walls, or protesting and feeling drained about the state of the world, we're eager for summer to give us a chance to recharge.
Summer’s also a great time to catch up on things that we’ve been putting off during the beginning of the year, and it’s a chance to get ahead of the busy months to come.
Today’s quarterly check-in is about taking it easy, while also feeling on top of your game.
If we’ve learned anything from the past few months of juggling kids at home with all our other priorities, it’s that time is more valuable than ever. If we can find a way to help you claw back any spare minutes, count us in.
One way to do this is to automate your transactions. That includes transfers to savings and bill payments. (Still review your bills, though, so you know where you’re spending or if, say, your electricity costs have spiked.)
You can also save time by getting all your financial accounts in one place. Fabric’s free mobile app lets you upload your financial accounts, and even grant access to your spouse to make managing your money that much easier.
Summer’s a great time for going through your closet and old albums. While you’re arms deep in memories, update or write down a list of your important files, accounts and details so your loved ones would know where to find everything if something happened to you.
That could range from a copy of your driver’s license to where to find your will, and info on your life insurance policy. (Full disclosure: If you don’t have life insurance, you can apply for term life insurance through Fabric, online, in about ten minutes.)
As the weather gets crisp in the fall, people might start going back to work in person, and jobs might become even more demanding than ever.
In the meantime, list out your career objectives. What do you want over the next year? Five years? Ten years?
If you’re thinking about returning to the workforce after taking time away, this is an opportunity to think about your timeline. Same goes if you’ve recently been set back by the pandemic and its economic crash.
Think: Who can you network with? What kinds of jobs are you interested in? How will that affect your family’s finances and your childcare needs?
We like to suggest that you check your credit score once a quarter, to make sure that your finances are trending in the right direction and that there’s no foul play on your account. You can use a free service like Credit Karma to get your score—and they have an app, so you can even do it from under a beach umbrella.
While you're at it, you might take the opportunity to focus on ways to improve your spending and saving habits. For example, you might take a critical eye to whether you're actually using all your monthly subscriptions (do you really need Netflix and Hulu Plus and Disney+?). You might also try some techniques to lower your summer electricity bill, optimize your bank accounts and credit cards through a site like Bankrate, and compare auto and home insurance rates through Insurify.
Soon enough, that teething baby will be waiting up for the Tooth Fairy; that ranting toddler will be going on their first date.
Let yourself daydream about your long-term goals: Are you saving up to buy a house? Do you want to go on a big family vacation? And what about things like retirement and saving for college—are you on track? If not, no need to harsh the summer mellow. Just pull out your phone and do some reading on where you are and where you should be, and make a plan for the future.
Fabric exists to help young families master their money. Our articles abide by strict editorial standards.
Fabric by Gerber Life exists to help young families master their money. Our articles abide by strict editorial standards.
Information provided is general and educational in nature and is not intended to be, and should not be construed as, financial, legal, or tax advice. Laws of a specific state or laws relevant to a particular situation may affect the applicability, accuracy, or completeness of this information. Federal and state laws and regulations are complex and are subject to change. We make no warranties with regard to the information or results obtained by its use, and disclaim any liability arising out of your use of, or reliance on, the information.
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Term Life Insurance Policy Series ICC22 2205-4004 WSA and Accelerated Death Benefit Rider policy series ICC22 2205-2623 WSA (and state variations where applicable) issued by Western-Southern Life Assurance Company, Cincinnati, OH which operates in DC and all states except NY, and distributed by Gerber Life Agency, LLC using Fabric Technologies. Gerber Life Agency, LLC is an affiliate of Gerber Life Insurance Company (est. 1967). All are members of Western & Southern Financial Group (Western & Southern). Issuance of coverage for Term Life Insurance is subject to underwriting review and approval. Please see a copy of the policy for the full terms, conditions and exclusions. Product provisions, availability, definitions and benefits may vary by state. Payment of benefits under the life insurance policy is the obligation of, and is guaranteed by, the issuing company. Guarantees are based on the claims-paying ability of the issuer. Products are backed by the full financial strength of the issuing company.
All sample pricing is based on a 30-year old F in Excellent health for the coverage amount shown and a 10-year term policy, unless otherwise stated. Gerber Life Agency, LLC (GLA) is an insurance agency licensed to sell life insurance products. GLA will receive compensation from Western-Southern Life Assurance Company for such sales. The NAIC Company Code for Western-Southern Life Assurance Company is 92622.
Western-Southern Life Assurance Company's A+ Superior A.M. Best Rating: Superior ability to meet ongoing insurance obligations (second highest of 13 ratings; rating held since June 2009). Ratings are subject to change from time to time. The ratings shown here are correct as of 09/03/2022. For more information about a particular rating or rating agency, please visit the website of the relevant agency.
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In the State of California, Gerber Life Agency, LLC is known as and does business as Gerber Life Insurance Agency, LLC.