There are many worthy organizations – which one(s) hold a special place in your life and heart? This is most rewarding personally plus you know the efforts and affects the organization truly is making in there area of influence.

There are ways to give more than once, almost like a double gift! Looking for a meaningful gift for a friend, family, co-worker or business associates? Make a donation in their name to a cause you or they support.

Donations to your local educational institutions for library or playground equipment or teacher supplies for student needs is always welcomed.

For an extra special interactive charitable gift, arrange to participate with the one receiving the gift. For example, select a charity with mutual interest between you. Next contact the charity for a list of their needs either to assist with your time or supplies to purchase. Set a date for you to go together to help or shop and deliver the donation. Take pictures and make it fun as well as meaningful.

Think of the lives you are affecting – including your own.

Scary thought isn’t it? Especially if you have children. This is an emotionally charged issue with many of us, but please do not put off completing this task as it is most important.

All of us need to have a will, guardianship legally established, documents dealing with health issues (living will and a medical power of attorney) and additional personal estate all legally documented and established.

Research the topic (again the Dummies series has been helpful for us) and then contact an attorney who specializes in estate planning. Having a personal friend who is an estate attorney has really made me understand the enormous consequences that can, and usually do, occur when your estate has not been prepared for your personal situation.

Also discuss with your estate attorney how to approach your parents and their needs as they age and many time neglect this important preparation for the future.

This is the month your employer distributes the insurance information with all the options listed. Your task is to seriously look it over. Consider the choices for you and your family and those you are not certain about or need more information regarding, get it from your employer, on-line research and library resources.

Consider cutting your prescription costs by using a generic version of the medication (seek your doctor’s advice, possibly a phone call will result in savings).

Look at the benefits offered at each place of employment and research your private and business  benefits verses costs. Do you have double coverage on yours and your spouses insurance? Then see which is better and discontinue the other insurance. It is amazing the cost difference for the same or better benefits from one employer to another (and private companies too).

Would a Health Savings Account for your out-of-pocket medical expenses be a savings in taxes for you?

It is time to handle this month’s task…ready, set, go!

To research the saving plans and the various options for college, we recommend starting with Clark Howard’s web site.

For those of us whom this is not a need, no you do not get a month off from the financial tasks we are working on this year! Our task this month, is to review any previous month’s tasks and do what you have not gotten completed. Trust me, you will feel better once it is done…

What areas are you wanting to improve in the later part of this year? We typically like the Dummies series on various topics and they usually list classic, time tested book titles, authors and web sites on the subject – making this a great place to start on your self-improvement project.

Education is one of the greatest investments – for a lifetime.

Rebalancing can make a substantial difference in your rate of return on your investments – especially protecting in a downturn. Once you have decided your mix of stocks, bonds and cash, check all accounts and make any rebalance transfers to maintain your financial goals.

Does your retirement plan need rebalancing? Often this is sadly neglected – once in there we forget about it thinking our job is done until retirement. Not so!

If you feel like this is overwhelming, have you considered making an appointment with an independent financial planner? Personally we like a fee only type of financial planner for a once a year “get-an-expert’s-advise”. Not that we always agree, but it does get us thinking and it has made substantial increases in our financial standing over the years. For more advise on how to find this type of advice, we use and search the topics on the Clark Howard web site.

Are you happy with your bank and their service? It is time to research the services that credit unions, banks and on line banks have to offer you.

Decide which services are most important to you; lack of fees, brick and mortar location, personal attention for your business financial needs, etc.

Now go find the banking institution that meets your top requirements (check the interest rates and  account minimums). With all the competition available, there isn’t any reason I can’t be satisfied with my bank. The only reason standing in the way is my lack of dealing with the search and the changes required!

Online bill pay is the best invention known to man, in my humble opinion. If you haven’t tried it, make that your next task after deciding your bank.

Your task this month is to set an appointment with your insurance agent to review your insurance needs. This isn’t a ploy to increase your payments, but I know several friends who haven’t done this review for years and sadly paid for it when we had hurricane damage a couple years ago.

While you are reviewing insurance needs, check your auto insurance as well. Do you receive a discount when the homeowners, renters, auto and business insurance with one company? Look at the total picture and get a total price on all your coverage for a true cost comparison.

Life insurance? Get information and quotes while you are handling your other insurance needs. Don’t you like multi-tasking!

This month is the time to review and simplify your financial accounts. Do you have multiple mutual funds? Most importantly, look at how these funds are invested and how diverse is your portfolio. Is it time to re-balance or consolidate for a wiser, safer balance for your funds?

Do you have accounts at several providers and would consolidating them at one or two companies be wise? The benefits include lower account fees and fewer, less confusing statements (at least you only have to learn to read one style of statement this way .

Take a look at your 401(k)s if you have several previous employers and consider rolling them over into one IRA. Seek advice on the best method to accomplish this rollover to avoid a tax bill.

More WFMW tips here…

Not able to take deductions because receipts are missing? Take action now for next year’s taxes – set up a file to save your receipts and any notes regarding tax write offs for 2008. Better to save a document and then discard after preparing your taxes than to toss it too early.

While preparing your taxes, are there additional deductions which would be financially wise for you to pursue for this year? Take action now to explore the potential.