Looking for something to keep you busy? Now is a great time to do some spring cleaning on your finances. With more and more people having a decrease in income, now more than ever, it is important to have a strong financial plan set in place.
Here are some good places to start.
- Review your spending from last year to establish a starting point on your budget.
- Write a list of all your subscriptions and automatic payments. Are there services you are paying for that you don’t use? Consider downsizing your streaming services or subscriptions to help save money during these uncertain times.
- Review your insurance policies to make sure you’re getting the best rates and not paying for unnecessary add-ons.
- If possible, switch to electronic statements and communications to remove paper clutter from your home. Having access to your documents online reduces the time you have to spend on filing and allows you to access them from anywhere. Some companies might also give discounts on products or services if you switch to e-statements.
- Ask companies about loyalty discounts or special promotions. There may be new offers from merchants or companies you use regularly. Now is the time to take advantage of those savings.
- Talk to a financial advisor. A professional can offer guidance on your budget and financial plan to help you meet your financial goals.
CFCCU knows times are unpredictable right now, but we are still here to assist you with your financial needs and help you reach your goals.
COVID-19 affecting your financial situation this spring? Head over to our last blog post for some tips on managing your finances during this health crisis.