Page 6 - Jolt Credit Union 2021 Summer Newsletter

P. 6

9 WAYS TO FRESHEN UP SAGINAW

YOUR FINANCES (Main Office)
6180 State St.
When it comes to cleaning, most people target their homes. Saginaw, MI 48603
And while it’s always a good idea to reduce clutter and clean Branch Hours:
up, don’t forget to refresh your finances as well. Check out M,T,W,Th: 9am – 5pm
these nine ways to review and improve your finances: F: 9am – 6pm

1. Add up your total debt • If you have multiple credit cards, S: 9am – 1pm
check the balances on each. Knowing the total amount that Drive-Thru Hours:
you owe across each line of credit can put debt in perspective, and M,T,W,TH: 9am – 5pm
motivate you to eliminate it.
F: 8am – 6pm
2. …And make a plan to pay it off • Next, take proactive steps S: 9am – 1pm
to paying off your total debt once and for all. Set a timeline for
yourself. Can you be debt-free in six months? A year? Keep it
realistic with how much you can reasonably pay, but also push SAGINAW
yourself to commit more. 1002 S. Washington Ave.

3. Step up monthly payments • The fastest way to become debt- Saginaw, MI 48601
free is to pay more every month. Target the highest-interest debt Branch & Drive-Thru Hours:
first. Re-direct money from less expensive debt, and increase M,T,W,Th: 9am – 5pm
your repayment dollars. After it’s paid off, focus on the next most F: 9am – 6pm
expensive credit card, etc.
4. Review (or make) a budget • Spring symbolizes rebirth, so it’s
fitting that you breathe new life into one of the most fundamental BAY CITY
tools of personal finance: your budget. Review your previous 1504 Cass Avenue
budget. Is it still relevant? (Re)create expense categories, designate Bay City, MI 48708
priorities, and set limits for discretionary spending.
Branch & Drive-Thru Hours:
5. Slash excessive spending • Do you buy coffee every day? M,T,W,Th: 9am – 5pm
Subscribe to multiple streaming services when you really only use F: 9am – 6pm
one? It’s okay to allow yourself some personal expenses, but try to
cut back on excess.

6. Set financial goals • If you’re determined to buy a home someday, BAY CITY
make a plan. Even if it’s a more modest goal like a new computer, 915 S. Euclid Ave.
you won’t be able to afford it if you don’t start actively saving every Bay City, MI 48706
month.
Branch & Drive-Thru Hours:
7. Contribute more to savings • We all want to increase the balance M,T,W,Th: 9am – 5pm
in our savings account, but it’s easy to get distracted. The best way F: 9am – 6pm
to ensure that you add more to savings every month is to automate S: 9am – 1pm
transfers from your checking account.
8. Practice financial peace • Accept that you can’t buy everything
you want, and try to be happy with what you have. It’s essential to ESSEXVILLE
your peace of mind. If you fight against the limits of your finances, 3105 Center Ave.
you’ll likely wind up in debt or feel unfulfilled. Essexville, MI 48732
9. Kickstart your retirement / college savings account • If you’ve Branch & Drive-Thru Hours:
fallen behind on retirement contributions or haven’t yet started M,T,W,Th: 9am – 5pm
a college account for your kids, now is the time to make a plan. F: 9am – 6pm
Figure out how much you can afford to put
away. Even if it’s not as much as you’d
like, a smaller sum is better than no
sum at all.
Find out more financial tips, life
hacks and financial education on
Jolt’s blog at joltcu.com/blog.

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