Money-Smart Resolutions for 2020
JAN 14, 2020 | Navigator Credit Union
Many people make resolutions on New Year’s Day, and most soon give up on keeping them. No matter what your resolutions are, the key isn’t making the list, it’s sticking to it. Navigator Credit Union has some money-smart resolutions you can start any time to increase your financial fitness.
Pay off debt - Start the year with a plan to whittle down debt. Making one extra mortgage or car loan payment a year will help you pay off your balance faster. If you can’t make an extra payment, consider paying a little more than the minimum requirement each month.
Build great credit - Making on-time payments and handling credit responsibly will raise your credit score, a number that is considered for a large loan such as a mortgage or even getting a job or apartment.
Maintain an emergency fund - Financial experts recommend having three to six months’ worth of living expense in a liquid savings account. Set up automatic transfers to your savings account to make it easy, and easy to access.
Save for retirement - Making regular contributions to an employer-sponsored retirement plan or an individual retirement account (IRA) can make a big difference when you reach your retirement years.
Just as with dieting, it’s not the starting that makes the biggest difference - having a healthy plan you can stick to will make you financially fit!
Navigator Credit Union has been helping folks along the Gulf Coast achieve financial success for more than 80 years. Visit navigatorcu.org or call 800-344-3281 for more information.
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