Financial Tips for a Low Stress Year
FirstCCU’s 2022 Financial Tips for a Low Stress Year
The new year is finally here, and it’s the perfect time for you to start fresh with your financial habits. Staying on top of finances can be a challenge year-round, but there are ways you can plan so that you are prepared if you encounter obstacles along the way. We want you to have a low stress year, and we compiled some tips to make sure that you start 2022 on the right foot:
Calculate your overall net worth
Figuring out what you’re worth financially is an effective way to assess your financial health and determine realistic goals. Calculate all your assets and current liabilities. Then use that information to start prioritizing how you are spending and saving money, as well as changes you’ll need to make to be successful. FirstCCU offers several resources on our website including tax planning, credit report consultations, financial education videos, and more to help you assess what your current financial situation is.
Stay on top of credit card bills
Paying credit card bills is key when you’re trying to stay on top of finances. Make sure that you’re paying at least the monthly minimum to avoid late fees and try to pay your full balance, if possible, to avoid paying interest. It helps to have a credit card with a low interest rate if you need extra time to pay your balance, and our FirstCCU Rewards Credit Card offers excellent benefits that will save you money. Members enjoy 0% APR on credit card purchases for the first 6 months and a 5.99% interest rate for balance transfers and cash advances for 1 full year, plus there is no annual fee!
Dedicate a portion of every paycheck to a savings account
Allocating money to a savings account will help you build your net worth so that you can accomplish your financial goals in the future. You can also use the money you saved to start an emergency fund for unplanned car repairs, job loss, or illness so you’ll be prepared for anything. Opening a FirstCCU Primary Savings account allows you to make unlimited deposits and make 6 withdrawals per month. You can even separate your funds by adding multiple savings accounts for your specific savings goals!
Protect yourself against fraud
It’s important to keep your money safe by protecting yourself against fraud. Guarding your financial information by using a complex password and monitoring your accounts will ensure you catch any instances of fraud before it’s too late. Our FirstCCU Revved Up Checking Account can link with the FirstCCU mobile app which gives you 24/7 access to your account so you can catch unusual activity right away. In the unfortunate event that your identity is stolen, the Revved Up Checking Account allows you to receive up to $10,000 to help pay expenses, clear your name, and repair damaged credit. We’ll also provide you with your very own consumer fraud specialist to help you every step of the way.
If you’re interested in learning more about what FirstCCU can offer you, please reach out to us via the contact form on our website. We look forward to continuing to provide members with effective financial management solutions in 2022!