Smart Financial Resolutions

January is the time when we look back on the previous year, learn from it, and make resolutions to make the coming year even better. The New Year is a great time to look over your finances and decide what goals you want to achieve. Take a moment to think. What are your goals? Here are a few ideas to get you started.

Start an emergency fund
Emergencies come in all shapes and sizes and are often an inevitable part of life. Wouldn’t it be nice to know that the next time disaster strikes, you’re secure? Having an emergency fund is an important step toward financial security. Imagine having the freedom to take time off of work and not worrying about unpaid leave or repairing your car without going into debt. Doesn’t that feel great? Every little bit counts when you’re saving money, so save whatever amount you can. Even $5 a paycheck adds up and Idaho Central offers a variety of savings options to choose from, to help you succeed!

Save for college
Your kids mean the world to you, but have you thought about their financial future? Starting a savings account for them could mean college or other great milestones are within reach for them later in life. Plus, teaching them early to make a commitment to save will be a skill that they can carry throughout their lifetime. At Idaho Central, we reward kids for deposits! Kids have the chance to win an iPod Shuffle for good grades and savings deposits. We draw a winner every quarter, so the more they deposit the more chances they have to win!

Consolidate debt
Having even a little debt can be a major stressor in your life on its own, but having debt from multiple sources can be confusing and difficult to maintain. Making an effort to look into options to consolidate debt could mean a lot less headache.  Consolidating debt could enable you pay less with a lower interest rate, lower your monthly payments, and have less to worry about. This can be a big step in paying your debts off faster. Our loan specialists at Idaho Central are the best in the business. We can match loan rates, and create specialized plans to help you pay off debt as fast as possible.

Pay fewer fees
A lot of financial institutions will make you think that fees are a way of life. Doing a little investigation about the reason behind fees can lead you to paying fewer of them. Maybe you need to move your due date around, or eliminate services you don’t use anymore. Small changes can make a big difference! Idaho Central strives to make this easy for you. Our accounts have no regular fees for services. We want you to have access to your money in a way that’s convenient for you without paying extra.

Build credit
Talking about credit can make people feel uncomfortable. The truth is, credit can be a great resource when you know how to navigate it. Commit to learning what you can about your credit and how to improve it in the coming year.
At Idaho Central Credit Union, our Financial Service Officers are trained to help you better understand your credit score and to improve it so that the next time you need to make a big purchase like a car or a house, you can feel confident that you have the best possible rate.

At Idaho Central Credit Union, our commitment is to help you achieve financial success. What that looks like is up to you. We believe money is a thing, but it’s not everything. Come in to one of our convenient branches, go online, or call and tell us what you’d like to achieve in 2017. Then, let us help you get there. Happy New Year!