Smart Money Moves for the New Year

The start of every new year brings the opportunity to make financial resolutions, ditch bad money habits, and think about ways to improve your financial health. Read on to discover some smart money moves that will help improve your finances in 2019 and beyond.

Bump Up Your 401(k) Contribution

One way to save more money, and not really notice it, is to increase your 401(k) contributions by at least 1% every year. It’s important to actively adjust your contribution amounts yearly to keep pace with inflation rates. This will keep the momentum going as you prepare for retirement. Making this painless little tweak can pay off big in the future.

Create a Personal Budget

Having a spending plan is imperative to managing expenses, paying down any debt, and planning for the future. It is important to be aware of the money coming in and going out on a monthly basis.

Define Personal Finance Goals

If you don’t have any financial goals set, it’s not likely you’ll achieve them. Establish your short-term, medium-term, and long-term financial goals, then develop a plan to reach them. Make sure you are on the same page with your spouse or partner when it comes to setting personal finance goals.

Personal Finance Protection

To guard against fraud, identity theft, and high-profile security breaches, savvy consumers should take precautions to protect their financial information. Strategies include checking your credit reports, setting up fraud alerts, using complex passwords and keeping devices up-to-date.

First Heritage Federal Credit Union prides itself on providing exemplary member service, taking every measure to ensure you are satisfied with all your money management needs. To discover more about how we can help you reach your personal finance goals, please visit our website today, or call us at 607-936-4667.



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