Hey.. Let Us Help You Spring Clean Your Finances!

Hey..Let Us Help You Spring Clean Your Finances!

Finances - Since spring has arrived, we have taken every opportunity to open our windows and let in the fresh air. Most of us start by cleaning the garage, tidying up the outdoor furniture and packing our old clothes to donate to a good cause. Why should spring cleaning end at your house? This is the perfect time to tidy up your personal finances. Consider these recommendations to "clean up" your finances.

Contribute to your 401 (k). Make sure that you contribute enough to your 401 (k) to qualify for maximum matching capital. Your employer is willing to give you this free money, so don't leave it on the table.

Open and IRA. If you have your own company or work for a company without a pension plan, you open an IRA. You can get large tax breaks by opening this type of pension plan. If you do not know which IRA is suitable for you, you can search for 'Types of pension plans' on irs.gov.

Rate your credit cards. The interest rates on your credit cards can affect your balance and can add up over time. If your interest rate increases your card balance, it's time to look around to find a lower rate. Other items that are options for rate controls are mortgage loans, car loans and even your checking and savings accounts. For a real sense of satisfaction, pay the balance that costs you the high interest. If you want to set your balance to zero at the end of the year, divide the amount due by 7 and pay that amount every month. Can't bite off that often every month? Move the balance to another card with an introductory rate and pay it off before the deal runs out. Make sure there are no high transfer costs.

Open a savings account. Follow these three steps when opening your savings account:

1. Set a financial goal and a timeline.

2. Decide how much you want to save each month to help you reach your goal.

3. Set up automatic transfers in your savings plan from your checking account. This way the transfer is done for you and you don't miss the money.

Check your credit report. Make sure your credit reports are free of errors. Remember that you can order a free credit report from each of the three major credit bureaus every year. You can get one for free from annualcreditreport.com.

Organize or remove old financial documents. Sort all your bank statements, invoices, invoices and other financial data and save those that are only needed. Please note that you must keep tax returns, canceled checks, receipts and supporting paperwork for your taxes for at least six years. Make sure you don't just throw your important documents in the trash without destroying it. You don't want them to be picked up by an identity thief.

Set up automatic invoice payment. Spring cleaning is not just about cleaning up. It's about making your financial life more efficient. Set up automatic payment and link it to your checking account in an attempt to eliminate any chance of missing a payment and paying late fees.

Check your budget. Look closely at your current budget and decide whether you need to make changes.

Pay as much debt as possible. Spring is a good time to review your outstanding debts and which loans or credit cards you could pay off. Develop nothing but a stricter payout plan. Quickly clearing your outstanding debt will put you in a much better financial position for the rest of the year.

Record your financial passwords and keep all your data in a safe place. Make sure you do not use the same password for all your financial accounts. Protect yourself against identity theft by protecting your passwords and other financial documents in a secure online vault.

Be a community steward. Try to make a difference in your community. Believe it or not, giving yourself to others will make you feel a lot richer.

If all this information makes you feel overwhelmed or unsure how to get started, then know everything. is always there for you. Our member representatives are happy to review your individual financial situation to see how we can help you achieve your financial goals. No matter how you want your financial future to look, there is a way to help you achieve this. Contact us or visit our location (https://alluscu.com).