WinCU Family & Friends Blog

Why wait another year? 2022 is here to stay so get going on tasks with real impact on your wallet.

1. Cut unneeded expenses: start with the subscriptions you don't use and are long forgotten. Next stop, your insurance. Review what you are paying and get current quotes. It could be $10 or as high as hundreds of dollars each month.

2. Add more to your emergency fund: go ahead and invest in yourself and your future. You'll start to see it slowly build the more you add each week or bi-weekly with your paycheck. It's suggested you have 3 to 6 months of expenses incase of a set-back. Even a small nest egg will help in a pinch. Plus, if you put it in a account it can start to build interest!

3. Stop with the credit cards: adding more debt allows the card companies to keep piling on the interest until its payed off in full. The higher it goes the harder to pay it off and the longer it takes, thus accumulating more interest you'll need to pay back. Ouch! At times a personal loan can make more sense because you can get a better rate.

4. Focus on your credit score: it's easy to let it slip when not needing it in day to day life. However, you can be causing major issues down the road when your looking at purchasing a different auto or that dream home. Making smart choices like paying your bills on time, setting up automatic payments or taking out less credit cards are some options.

5. Invest in the future: long-term goals aren't as fun as that vacation, but knowing retirement is part of life invest in the long game, you.