Spring Cleaning Time!
Spring is a great time to clean out all of those areas that have been stuffed with junk. While most of us think of spring cleaning our homes and yards, we should look at our finances too. Spring is a great time to refresh and clean up . . . everything. Here are a few great ways to spruce up your finances.
1. Dust Off Your New Year’s Resolutions
Use the fresh energy of spring to revisit your list of New Year’s resolutions. What were your budgeting goals? What were your savings dreams? Have you achieved any of those goals? If not, what’s holding you back?
Do it today: Dig out your New Year’s resolutions and go through your financial goals. Haven’t started that savings account yet, start it today. Tweak and adjust as necessary. Create a new tracking system if the existing one isn’t working. Then, get out there and own those goals!
2. Sweep Out Your Monthly Budget
Review your spending habits for the last few months. What are your weak spots? Where can you cut back? It’s time to take stock! You might be surprised at what things are draining your account.
Do it today: Review your monthly budget and choose one area to trim. Create concrete and realistic steps to make that happen. Your budget will thank you! If you need some help, Box Elder Credit Union offers Free Budget Counseling. Take the worry out of your budget and let us help you.
3. Freshen Up Your W-4
If you’re celebrating a generous tax return, it means the government has been handling some of your money. You could have used those funds to start investing, add to an existing emergency fund or even to launch a business. Take a closer look at your W-4 so you don’t overpay in taxes again this year.
Do it today: Research your best withholding options or ask your accountant to help you work out the numbers. Adjust your W-4 accordingly and submit it to the payroll specialist at your workplace.
4. Pile Up Your Savings
Once you’re trimming your budget and taking home a larger check each payday, why not bump up your savings? You can add to an existing fund, build a new one, open a Savings Certificate or start investing.
Box Elder Credit Union offers many choices when it comes to piling up your savings. Come in today or check it out online on our website. BoxElderCreditUnion.com
Do it today: After choosing a savings option, stop by Box Elder Credit Union to set up a Direct Deposit. Then, your money will be automatically transferred from your checking account to your savings vehicle. Savings, done!
5. Toss Your Debt
This spring, while you make piles of junk to toss in the trash, why not get rid of your debt too?
Do it today: Paying down debt isn’t easy, but you can do it! All you need is a realistic plan. Review your debts and pick the one you want to pay off first. Find a way to double your payments, either by increasing income or trimming expenses. After it’s paid, add the extra payment to the next one to toss. Eventually, you’ll kick all of your debt to the curb!