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5 steps to get your financial house in order before 2013

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    Advice from personal finance expert Vera Gibbons

  • Duration 2:37
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All the fiscal cliff is looming in the possibility of your taxes going up along with -- so it's time.

To get your financial house in order equipped doesn't happen for -- so joining us now with her end of year checklist is personal finance expert Eric thank you -- -- and -- -- -- first -- -- do is look at the tax implications of various things that might -- changing such -- charitable contributions.

Right this is you want to get with your overall -- situation -- thing you can do no matter what happens if that's the clintons make your charitable contributions have until the end of the year to do -- to take the deduction.

Also want to take a look at weather makes sense to prepaid -- state and local taxes your property taxes and really important to look at your investments as well.

Here gains or losses if they're -- -- wanna sell you might wanna consider doing that before the end of the year but that's.

Taxes are scheduled to rise -- wants when he thirteen so yeah meaning -- capital gains tax cap right now is 15% that Michael up in January 2013 yes so little -- -- -- sellout if you are considering doing satellite you can get.

-- -- -- -- -- -- -- -- Just yeah good balance of your your network.

Right that's always a good time to do that this time of -- to going to be your assets your liabilities what's coming in the -- what's going out Dora figure out a way to actually save more spend last -- how'd -- become financially independent.

You start saving more the long term -- are chipping away at that common -- contender within the year common sense but we always need to remind me did not highlight your insurance.

Always getting a deal also this time leader to take a look at all of your insurance your -- here -- though.

Your life insurance disability are you adequately covered you have enough for you paying too much time to comparison Chavez taunts if you can do better elsewhere ya cause you to sign up and then you get the bill and you think it's the same but it.

Inches up a little bit the next thing exactly a lot more than you thought.

Check your credit score.

Good time to do that to a lot of people don't do -- you are entitled to a copy of your credit report for free -- here.

Annual credit report dot com -- -- go for that.

I would check ever with a fine tooth comb because these reports -- contain errors a lot of them 25% contained errors that are serious after result you're being denied credit so.

Whatever the fine -- come if you see -- is on there you gotta prepare to dispute that there's not that takes a while.

All right so you have just a few weeks left to use up whatever money you have left in your flex spending came your flexible spending encompasses free medical expenses -- have any money in there I mean sometimes the deadline is end of -- -- April but some people are still with the old deadline -- -- of the end of December so.

If you have money in there you've got to use it before the end of the year check with -- administrators say exactly how much you still have left in -- and when the deadline is to use it because -- users when does it -- right to -- you're given thank you so -- -- --

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