Analysis Paralysis: What are the Best Financial Products for You?

Ok.  So you’ve  decided that 2009 will be the year in which you will commit yourself to putting your financial house together.   You’ve done a financial health check and discovered the vulnerable areas which need additional attention e.g  too much debt, too low a return on savings or onerous finance charges which could be restructured.   You’ve come up with an Action Plan which now needs to be implemented.

Then what?  Where do you go from there? 

The search for the best financial solution for YOU begins and quickly falters, faced with a gargantuan pile of leaflets and brochures from various financial institutions.  I wish there was a reputable Cliff’s Notes version,  wherein someone comes in,  sifts through the various products being offered and comes up with a crisp, concise, objective summary.  

Hmmmm…..welcome to the club of those stuck in analysis paralysis. 

There are a number of websites such as which act as product aggregators:  trawling the country to find financial institutions which offer the best CD rates, Online Savings Accounts/Checking Accounts, credit cards, mortgages, auto loans, insurance, personal finance calculators.   Go to them when searching for the best low interest credit card or for one which will allow you to balance transfer w/ no fee.  It is up to you to decide which structure is best for your financial situation.     Be sure to explore all the options available to you and most importantly, read the fine print before signing on the dotted line.    You might discover that the institution offering the best rates may not be giving you the best terms.

Not sure what is the best action point for your particular financial situation?  Grab a copy of Suze Orman’s 2009 Action Plan.   Go to the topic which worries you the most.  She cites numerous situations and suggests actions which you could take to improve your financial standard.  No matter what situation you’re in, you will find a plan of action and the answers to your questions about:

* Credit * Retirement *Savings and Spending*Real Estate*Paying for College* Protecting Your Family

 “In times of great stress, it is natural to react by making decisions and taking actions that bring instant relief.  When it comes to financial matters, often the decisions that calm us amid tumult are actions that can imperil our long-term security.” — Suze Orman

Motherhood has a very humanizing effect. Everything gets reduced to essentials. ~Meryl Streep

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