Spring clean your finances: One step you can’t afford to skip


Louisville, KY—April 26, 2016—Much of our financial health depends on practicing good financial habits throughout the year. Financial tasks such as balancing your checkbook and paying off credit card balances, for example, must be done every month to avoid unnecessary bank fees and high interest rates. “Just as once a year you spring-clean your home by pulling out the ladder and dusting ornamental treasures on the highest display shelves, once a year there are certain steps you must take to protect yourself financially.” Carla is CEO of SUM180, an online financial planning service created by women for women.

“It’s easy to let these tasks slide from year to year because you do them so infrequently, but that mistake can be very costly. The most important—absolutely essential—of these once-yearly financial spring-cleaning tasks is an insurance checkup. Reviewing and updating your insurance is more important than shredding old statements, bumping up 401k contributions or organizing tax folders for the next fiscal year, because it protects you and your family from potentially catastrophic losses,” continued Carla.

Carla identified the following three types of coverage as essential:

  • Identity theft coverage. The incidence of identity theft has grown tremendously in recent years. For a small premium ($25-$60 per year) you can purchase credit monitoring and reimbursement for the costs associated with repairing your credit history if you become a victim.
  • Umbrella liability coverage. If you are a parent of teenage children, you may someday be subject to major claims and lawsuits related to driving accidents or alcohol-laced teen parties in the basement when you’re out of town. The extra liability coverage will protect your assets beyond what your homeowners and auto policies already cover.
  • Home owners insurance. Have you had an addition built onto your home in the past year? Did you completely renovate your kitchen or install a full-feature home theater? If so, your existing home owners policy may not reflect the current value of your home.  Reviewing and adjusting your coverage immediately will save you a lot of money in case the unexpected happens.

“When we think about our taking care of our ‘finances,’ we often think of growing our savings, retirement or investment accounts. But the truth is, your money is so much more than your savings or your investments. Take the time once a year to protect your assets and your future from liability. It may be the best investment you make all year,” Carla concluded.

About SUM180
SUM180 is an online financial planning service designed by women for women. With the goal of making financial planning simple and affordable for women, SUM180 provides a radical alternative to current financial advisory offerings.

Specifically, SUM180 is differentiated in the following ways:

  • SUM180 meets women where they are. SUM180 plans are personalized to help women wherever they are right now on their financial journey; whether they’re just beginning, starting over or well on their way.
  • SUM180 plans are simple. Clients need only focus on just three of their most important next steps at any given time. This approach is empowering for most, but especially for women who have been “tuned out” of their financial picture for a period of time.
  • SUM180 doesn’t try to give clients a degree in finance. SUM180 clients don’t need to become financial experts to meet their financial goals. SUM180 provides the tools they need, without overwhelming them with the details they don’t need.
  • SUM180 offers a community for users, unfiltered. SUM180’s community forum allows users to support one another in their plans.
  • SUM180 serves; never sells. Earning and keeping client trust is SUM180’s highest priority. SUM180 never makes money based on the advice provided.

Additional information about SUM180 may be found at https://sum180.com/.

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Robin Schoen
Robin Schoen Public Relations
215.504.2122 office
215.595.7542 mobile