Don't wait for Obama-Time is now to focus on your finances

We would be remiss if we didn't give you a blatant Obama inauguration tie-in, and since Pink Slipped is all about change for the better and new beginnings, why not?

The Wall Street Journal yesterday posed the question, "What will the new administration, and its first 100 days, mean for your money?" The answer is made all the more complex and important if you've lost your job, but the article reminds us that the most important financial decisions for you and your family will be made at your kitchen table, not in the Oval Office. With that in mind, the WSJ offers a 7-step "DIY Stimulus Plan" (whole article is linked below):

1. Take care of basics.

2. Pay down your credit-card debts.

3. Take an axe to your expenses.

4. Put financial costs under the microscope.

5. Check your tax planning.

6. Review your investments.

7. If you haven't done so till now, actually sit down with a piece of paper and write out your long-term goals.

The plan won't get you a new job, but in these hope-y, change-y days, using some of your free time to take control of your finances is a great idea, and being more organized can only help focus your search.

The DIY Stimulus Package [Wall Street Journal]

--Posted by Steven Schiff, Vault News & Commentary