What is a favorite memory you have of holiday time as a child? Maybe it was related to an event or activity rather than a gift. Or perhaps you have smells or sounds that come to mind when you think of the holidays.

I remember getting a large tricycle, a shiny red one that was big enough for me to ride my little sister standing on the step on the back. Or how much fun we had with a huge box that must have been an appliance or furniture box, and we transformed it into many things and spent many hours playing in and on it.

The “Nice” List

Fast forward to today, and I have a gift idea to suggest for women now. How would you like to sleep better at night, reduce confusion and stress, and know that you have taken care of yourself and your family? Sounds like an ad for a new drug, silver bullet pill, or miracle supplement, doesn’t it?

I should clarify that it also requires time and effort on your part, but it’s worth it. I am talking about giving yourself the gift of getting organized… financially organized. After all, it is gift giving season so we should add our own names to the list too!

Unwrapping Your Gift

What exactly does it mean anyway to be financially organized? Let’s unwrap your gift and see how it works.

Make Those Lists!

First, it means knowing what you have for financial resources because you have compiled a list (often called a net worth statement or personal financial statement). It doesn’t do any good if you know your list, and it’s in your head, but it’s never written down.

Someone else will eventually need to know what’s on that list because they will either need to help you or will need to take care of things later. Think of it like taking an inventory of your money tools. Unfortunately, most people do not have this part done.

A list can truly give you peace of mind to see and remember what all you have access to in your financial toolbox. It’s a great foundation for making wise financial decisions now, but not having a list of assets is one of the most common estate planning mistakes.

Check Your Lists Twice!

Being financially organized should also mean that you have looked at and updated (as necessary) the titles and beneficiaries on all of the listed assets you own. This paperwork process of telling your assets where to go after you are gone is too often overlooked. I call that estate planning homework.

Don’t Be Naughty (Be Organized)!

Lastly, getting financially organized means that your financial records (original documents, account statements, contracts/policies, etc.) are findable and logically organized. There are too many true stories out there about families that can’t find financial records at a time they are needed.

One of the most common stories I hear has to do with finding the will. One family couldn’t find it until months later when the house was being sold. It was found in a box labelled “Christmas Decorations” in the back of one of the closets. Another family found it in with the vacuum cleaner bags.

A fireproof safe, locked filing cabinet, or sealed letter stating where to find critical information/items might have been a better alternative in those cases.

So now answer the question, “Am I financially organized?” (1. you have an asset list written 2. your records are findable/organized logically 3. you have your estate planning homework of titling/beneficiary updates done).

All I Want for Christmas Is for You…to Get Financially Organized!

If you answered “no” to the question above, or you know someone else who could use some help/motivation in that area, give yourself (or your friend) the gift of getting financially organized.

It Really Is the Gift That Keeps on Giving

The old saying that “opportunity” is often dressed in overalls and looks like work is also true when it comes to getting financially organized. It is not a quick, one-hour project.

So, save yourself some time, don’t reinvent the wheel, and use resources that are designed to be comprehensive, fill-in-the-blank tools.

As women, we often have done a wonderful job of taking care of our family. Yet we often put ourselves on the back burner. This is one gift you can give yourself this year – the gift of organization.

You will enjoy financial peace of mind now and also find that it’s the gift that keeps on giving. This is the perfect way to continue to love your family later even after you’re gone.

Check out the many free downloadable checklists, videos, podcasts and blogs found under Resources on my website. Also, there is a checklist book series, a great stocking stuffer idea.

Is your financial information organized? Have you created your ‘nice’ list? Are you keeping it in a safe, but logical place? Please share the best financial resources you have used to date.

Tayshia Adams’ Dress at the Men Tell All

The Bachelorette Season 16 Episode 10 Fashion

While the men are telling all (well, some of them due to COVID-19 restrictions) on this special Monday-night episode of The Bachelorette, we are telling all about Tayshia Adams’ super glam grey velvet dress and gold tie sandals. And while we’re definitely not Reality Steve here, with this lewk I think it’s safe to reveal a little spoiler that a man two men named “Alexandre” totally won her heart.

Fashionably,

Faryn

Sandals Also Seen on Tinsley Mortimer:

Click Here to Shop Her Alexandre Vauthier Dress

Click Here to Shop Her Alexandre Birman Sandals

The Bachelorette Airs MONDAY, DEC. 14 (8:00-10:01 p.m. EDT), on ABC. (ABC/Craig Sjodin)

Originally posted at: Tayshia Adams’ Dress at the Men Tell All

Hailey Bieber is basically our BFF, she just doesn’t know it. We love when she gives us the real deal on all any and all skin troubles, especially acne. So when we saw Bieber wearing Starface Hydro-Stars pimple stickers on Instagram Stories, we knew we weren’t the only ones dealing with some pandemic breakouts. We’re going to be wearing masks at least until summer (probably) so it’s good to know how to heal any pimple that pops up. Acne patches are a great way to do just that.

One of the best things about wearing face masks is being able to hide a pimple patch. You’re healing your skin and protecting your community at the same time and you really can’t go wrong with that. And no one knows! It’s a secret! But it doesn’t have to be. Starface’s pimple patches are made to be worn IRL and show off because everyone gets pimples. Even Hailey Bieber.

Instagram.com/haileybieber.

Our mission at STYLECASTER is to bring style to the people, and we only feature products we think you’ll love as much as we do. Please note that if you purchase something by clicking on a link within this story, we may receive a small commission of the sale.

Starface.

In addition to being cute, Hydro-Stars help suck the oils and sebum out of a pimple when worn for about four hours. They’re made from hydrocolloid, a gel that draws out the fluids. Like others also made from hydrocolloid, they work best on “mature” pimples, ones with a head that’s come to the surface. They’re not going to do much for a cyst under the skin except keep you from picking at it—which is important too. (For the first sign of a pimple, try Zitsticka Killa Kit.)

And when you run out of stars, fill your Hydro-Stars kit with the brand’s painfully cute collab with Sanrio. Yes, these are Hello Kitty pimple patches and they’re everything.

Target.

Someone get these to Bieber—STAT.

As we enter the holiday season, we grandparents find ourselves wondering what to get the grandkids. This year, here is a suggestion that will have a lasting impact!

Is leaving a legacy important to you? While we are struggling to find the right gift for that special little grandchild, maybe we can step back for a moment. What might really benefit them and have our grandkids remember us by well into their future?

Giving the Gift of Education with College Savings Plans

I am talking about helping them with their future educational costs by participating in a College Savings Plan or 529 investment account.

Almost every state in the United States has one or more programs that will allow you to make contributions into an investment/savings account that can grow tax free and be withdrawn tax free for college, vocational training, and graduate school.

These savings can be used for tuition, room and board, books, lab fees and other qualified expenses.

In addition, your contribution may also be tax deductible in the state in which the account is established. Each state has its own set of rules regarding the amounts that can be contributed each year and the amount that can be deducted from the state tax return (not federal tax).

There is a federal limit on the amount that can be contributed under the annual gift tax exclusion; however, there is a way to maximize the amount by taking up to a five-year advance on the annual exclusion, up to $70,000 in one year.

Pre-Paid Tuition Plan in Virginia

For example, I live in Virginia and here is how it works for me. There are several types of savings and investment plans including a “pre-paid tuition” plan.

The pre-paid tuition plan is a guaranteed plan that allows someone to pay for the cost of tuition while the child is younger and the state guarantees the cost of tuition to be paid in full if the student attends any of the state colleges or universities.

You can pay for one or more years, guaranteed regardless of the future increase in the actual tuition cost. For very young children I think this provides a base of security for the cost of higher education.

The only drawback is if the child decides to go to an out of state school. In that case, the guaranteed benefit ceases and an equivalent amount based upon the average of the state’s tuition costs is provided to the student.

College Savings Plans

However, the other savings plans under the tax code of Section 529, provides an opportunity to invest into a college savings plan that is available to cover all qualified expenses regardless of where the child goes to school.

I like doing a combination of the guaranteed pre-paid tuition and the 529 investment accounts to cover as much of the cost as possible ahead of time. This way we have an amount that has a guaranteed benefit and a portion that will be subject to the investment market ups and downs.

There are no other investment plans that can provide a state tax deduction and be tax free upon withdrawal. It’s hard to beat zero taxes!

Beneficiaries Can Be Changed

How is the money protected in the event a child does not go on to college? One additional benefit is that the monies that are “gifted” into the account are not the property of the child; the child is simply the beneficiary of the account.

The custodian is usually the donor (grandparent) and the successor custodian is the parent of the child. The beneficiary can be changed to another sibling, parent or even to a first cousin. The custodian controls the account and names the beneficiary. By having a successor custodian, the account passes to the parent without going through probate.

For my grandchildren, I am not trying to pay 100% of the cost of higher education but an amount that will help reduce their dependency upon student loans. Each grandparent needs to evaluate what amount they can afford to contribute that will not cause any financial problems for themselves.

Having done these types of savings and investment plans for my clients I have found that the children are very appreciative of having a portion of their college expenses paid and it creates a special connection with the grandparent whether they are there or not at the time the child goes off to college.

I personally cannot think of a better investment than our grandchildren’s education!

Have you considered giving your grandchild the gift of education through a college savings plan or 529 investment account? Have you looked into any of the plans I mentioned? What options exist where you live? Please join the conversation.