You may associate spring cleaning with tidying up your home, but it’s also a good time to ensure your finances are in order. Get started with these tips.
Pull together your bank account and credit card statements from the past several months. Look at your spending trends and consider the following questions.
Are you…
Depending on your answers to these questions, you may need to make some changes.
Even if you’re spending within your means, you may have unnecessary expenses in your budget each month. For example, you may have signed up for a subscription service months ago that you’re not using as much as you expected you would. If this is the case, consider canceling it.
Revisit the financial goals you’ve set for yourself. Are you on track to reach them? If you are, are there any changes you can make to your finances to help you reach your goals faster? If you’re not, what adjustments do you need to make to get back on track?
If you don’t have any financial goals, consider putting some in place. Popular financial goals include paying down debt, building up savings, and increasing your credit score.
You’re entitled to free copies of your credit reports from each of the three major credit reporting bureaus. You can access these at no charge once a year. Check www.AnnualCreditReport.com for the most current information on the frequency with which you can access your credit reports for free.
Once you have your credit reports in hand, review all information to ensure they’re correct. If you find any unauthorized accounts or misinformation, contact the credit reporting bureau immediately to report it.
As a PSECU member, you also have access to our free credit score service* to help you manage your credit every month at no cost.
If you have debt, devise a plan to pay it down. This could include:
At PSECU, we help our members achieve more. With free educational resources, 24/7 digital banking tools, and no- or low-fee products and services, being a member can help you get your finances in order this spring and all year long. Join today!
*PSECU is not a credit reporting agency. Members must have PSECU checking or a PSECU loan to be eligible for this service. Joint owners are not eligible.