Spring is here! You’ve cleaned out your house and now you’re ready to give your finances a thorough spring cleaning. Where do you start? Spring is a prime time for whipping your finances into shape. So, let’s get cleaning!
1. Dust Off Your New Year’s Resolutions
Use the fresh energy and renewal 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?
Take stock of where you are financially and get back on track, moving forward and toward those goals. It’s not too late to make it happen this year!
Do it today: Dig out your New Year’s resolutions and go through your financial goals. 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 of the last few months. What are your weak spots? Where can you cut back? It’s time to take stock!
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!
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 maximizing your W-4 to take 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 Share Certificate or start investing.
Speak to Noble Credit Union to learn about their fantastic savings options.
Do it today: After choosing a savings option, 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, sell for cash or donate, why not get rid of your debt too?
Debt holds you back from moving forward, keeps you in a spending trap that only gets stronger with time and clings to you like caked-on mud. Wash it all off this spring with an actionable plan to get rid of that debt for good!
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!
Spring is here – it’s time to freshen up your finances so they’ll be in tip-top shape for summer!
Noble Credit Union, celebrating 80 years of service, treats each member with kindness, dignity, and honor while helping members make sound financial decisions. The Credit Union offers members full access to a wide range of financial education and services, including low rate auto loans, MyRewards Visa credit card, mortgage and equity loans, online and mobile banking, and more. For more information about membership at Noble Credit Union, call (559) 252-5000 or visit NobleCU.com.