During the whole year, most of us have one goal in common: figure out our finances. Here are some easy ideas to get you motivated.
- Clear the Clutter — Almost all major service providers from utilities to mobile phone carriers offer the option of eBills through BillPayer — make your payments electronically in one place, schedule payments, track your payment history, refer to your statements as-needed, and reduce the amount of paper you have to manage.
- Stick to the Spending Plan — The hardest part about a budget is not the mapping-it-out part—it’s the next step: sticking to it. One useful idea is to create a miscellaneous savings account. Once you’ve established how much wiggle room you have each month, set up an automatic transfer to your miscellaneous savings account; you can track where your money goes and will (hopefully) find yourself spending within your means.
- Consolidate Your Debts — If you have some credit card debt in a few different places, consider consolidating that debt into one Personal Loan and manage only one payment per month. At BFSFCU, our Debt Consolidation Loan has no application fee, no pre-payment penalties, and no collateral is required.
Bonus Tip: Review Your Credit Activity
In accordance with the Fair and Accurate Credit Transaction (FACT) Act, all consumers may obtain a FREE credit report annually from all three major crediting bureaus: Equifax, Experian and TransUnion. The U.S. Federal Trade Commission lists annualcreditreport.com as the only authorized source from which to request your free credit reports. Check up on your credit to ensure that the information is correct and has been authorized by you.