Financial Awareness Day

August 14th is National Financial Awareness Day. It is a day dedicated to preparing for your financial future and building financial stability. 

Consider each of the following five items to take control of your finances this National Financial Awareness Day:

1. 1.  Check your savings.
      Check your savings to see if you are saving enough for your future and have enough funds in case of an emergency.  It is recommended to have a minimum of three to six months’ worth of expenses in savings.  If you don’t, develop a plan and set savings goals.  Don’t have a savings account?  Contact us today to open a savings account!

1. 1. Reevaluate your budget. 
      Take a look at your budget and spending and make changes as needed especially if you haven’t done so lately with the rising costs of living.  This is also a great time to evaluate how much money you can put in your savings account.

1. 1.  Brush up on your financial literacy. 
      Take time to brush up on financial literacy essentials like home ownership, financial caregiving and planning for retirement.  There are many free tools and videos to help.

1. 1. Take steps to improve your credit.
      Look at your credit score and credit by obtaining a free credit report.  See if there are any areas you can improve on such as eliminating paying late on your credit such as credit cards and student loans. 

1. 1. Get a head start on taxes.
      Find a way to organize yourself during the year to be ready for tax time.  For example, get an organization folder and file any important paperwork in there that might be necessary at tax time such as receipts, expense records and donation receipts.  This will make it much easier to find everything at tax time and help make sure that you don’t forget anything. 

Have additional questions? Contact us today to get help with all your savings and lending needs.