Here we are at the start of 2021 and along with the new year, comes resolutions. Commonly New Year’s resolutions involve exercise or a healthier diet, but it’s also important to consider some financial resolutions. Here’s some tips to get you started.

Be mindful of your spending

The quickest way for your expenses to get out of hand is when you aren’t paying attention to what you’re spending it on. There are many option available to track where your money goes. With online banking and the First Heritage Mobile app you can view pending transactions, account balances, set up alerts for things like deposits. Tracking your spending is a great way to discover where you my be overspending and one of the first steps in creating a rock solid budget.

Create a budget that you can stick to

Now that you’ve spent some time reviewing where your money goes, it’s time to start looking at how your could spending more wisely. To make an effective budget you need to take into consideration your usual expenses and also any long term expenses and some wiggle room for the unexpected. The key to making a budget you can stick to is leaving yourself some cushion for leisure spending so it doesn’t doesn’t feel like all work and no play. With MyCardRules™ you can turn cards on and off, set spending limits and get alerts, all with a few quick taps.

Create a plan to keep debt in check

Whether it’s a monthly credit card or even certain types of loans one way to start chipping away at that debt is to pay more than the minimum payment. If you do have a credit card with a high balance, a good option may be to transfer it to a new card with a lower interest rate. With our VISA® Balance Transfer, you can transfer your high rate credit card balance to a First Heritage Visa® Classic or Visa® Platinum Card and you could save with a 12 month introductory rate of 2.99% APR*.

Create an emergency fund

Here’s one we’ve talked about before recently, but by adding just a small amount each month into a savings account, you can be more prepared for any unexpected property damage, home repairs or health related expense. Setting up an automatic transfer is a great way to start setting money aside without the routine effort.

Start planning for retirement

The first and most likely easiest step with this is to inquire with your employer about any available programs through the company. Taking the next step can be a little trickier so we recommend meeting one-on-one with a professional who can help you determine what options are available that best fit your needs. Our Financial Advisor is available to meet with you to help objectively analyze your investment needs and help you create a financial plan designed to meet your unique goals. You can schedule a free no obligation appointment and learn more on our website.**

_{*APR = Annual Percentage Rate. Balance transfer rate of 2.99% effective for 12 months. Rate will revert to a variable APR of prime +4.50% APR for VISA platinum and 13.25% APR for VISA Classic once the promotional period has ended. Purchases and cash advances made in foreign countries and foreign currencies will be billed to you in U.S. dollars. The foreign transaction fee is 1% of the transaction amount. Limit: two balance transfers per 12-month period. New money only.}

_{^**MEMBER FINRA/SIPC, Not NCUA/NCUSIF insured, Not credit union guaranteed, May lose value. Non-deposit investment products and services are offered through CUSO Financial Services, L.P. (“CFS”), a registered broker-dealer (Member FINRA/SIPC) and SEC Registered Investment Advisor. Products offered through CFS: are not NCUA/NCUSIF or otherwise federally insured, are not guarantees or obligations of the credit union, and may involve investment risk including possible loss of principal. Investment Representatives are registered through CFS. The Credit Union has contracted with CFS to make non-deposit investment products and services available to credit union members.}