New Year’s Financial Resolutions

 

First of all, Happy New Year, 2016 is here! If you haven’t yet, you’re probably thinking about some New Year’s Resolutions. And, statistically speaking, you probably have at least one financially related resolution that may include saving more, spending less, investments, loans, etc.

If you haven’t figured out exactly what you’d like to work on financially in 2016, here are a couple of things to think about:

1.       Did you have good saving habits last year?

It doesn’t matter if you make 20K or 100K, you can’t accomplish your financial goals if you spend all of your money. The best way to increase savings is automatically making payments to yourself. Have a set amount or percentage automatically go into your savings account from every paycheck you receive.

2.       Were you financially responsible?

Late or skipped payments not only generate fees and interest charges, but they also can damage your credit score. A low credit score means higher interest rates on future financial endeavors, denial of loans, and a lot more negative stuff. Be responsible in 2016- always make payments on time, or better yet, make these payments automatic, too!

3.       What’s your debt like?

If you’re like the majority of Americans, you probably have some sort of financial debt. If you carry too large of a debt balance, and only make minimum payments, this can negatively impact you as well. Try working with a financial planner to get yourself on track, spend less and save more, and make a budget, and stick to it!

Follow these tips, and you could make 2016 your best financial year yet!

Don’t forget to follow us on twitter @honorcu and let us know what you want to hear about next week using #askhonorcu! 

To hear 97.5 Y-Country's Mark Durocher and Honor's Kaylee Williams talk about New Year's Financial Resolutions, click on the Mason Jar Monday episode below!

 

A Fitness Plan For Your Finances

It’s a New Year, and time to make those New Year’s resolutions!  Two of the most common New Year’s resolutions have to do with financial health and physical health.  Starting a new year on the right foot is important, so getting your finances and your body right are both fantastic goals.  As you think about getting your wallet and yourself in shape, here are a couple of similarities between your local credit union and the gym to get you on the way to achieving your new year’s goals:

• All The Tools To Succeed – One reason people join a gym is to get access to all the equipment to get in shape that they just don’t have at their own house.  You can get a better workout when you have access to many of these machines, and your wallet can get in better shape with access to all of the products and services that credit unions have to offer!   

• Work Independently or Utilize a Personal Trainer – Some people prefer to work out on their own, while others like a personal trainer with them every step of the way.  At a credit union, like Honor, we can give you both scenarios, too!  Our team is here waiting to walk you through our products and services if you want, but we also give you the tools to manage your finances on your own with easy to understand and use technology like our mobile app, or online bill pay!

• No Judgment Zone – A good gym will welcome you with open arms regardless of your physical health.  They will help you achieve your goals, no matter how big or small they may be.  You can expect the same at a credit union!  We are here to help you get in the best financial situation possible, no matter your starting point!  No two people’s finances are exactly the same, and you can have confidence that there will be no judgments or comparisons at Honor! Every member matters!

Don’t forget to follow us on twitter @honorcu and let us know what you want to hear about next week using #askhonorcu!  

Listen to Honor's Scott and 97.5 Y-Country's Wild Bill talk about their financial fitness tips in Mason Jar Monday!