My Financial House - Organize your Financial Life

If you got sick and would your family know what to do? Would your family be able to find your financial records if you died? The Insurance Information Institute (I.I.I.) has available for download a personal finance program called My Financial House. The free software will help you create a financial inventory as well as chart long-term financial goals.

The software helps consumers:

• Organize and create a picture of their current financial situation
• Work more effectively with financial advisers
• Identify gaps or overlaps in their financial circumstances
• Guide heirs and beneficiaries when filing claims

“This software was created to help people take control of their finances and prepare for their future,” said Dr. Steven Weisbart, vice president and economist at the I.I.I. Too often consumers underestimate the money needed to pay for such large expenses as college tuition or buying a home. They don’t purchase sufficient life insurance to cover a family’s day-to-day expenses if the household’s primary wage-earner were to die in the prime of his or her working life. This software helps consumers plan for and manage their personal income and gain control over their finances.”

Once you complete your financial inventory, you can share it with your accountant, financial advisor and/or attorney – someone you trust – to help you plan for your future, so that even in an emergency you will know if your financial house is in order. You can also email your inventory and save it to a disk to store it for safe keeping.