visimoney
TLDR:
The new year is the perfect time to get organized, and one of the best places to start is with your finances. Redstone Federal Credit Union’s April James offered 5 tips to help you organize your finances:
- Review last year’s finances
- Organize your budget for the year
- Create savings goals
- Review your Credit Report
- Review important documents and shred items you no longer need
By taking small steps, you can get your money in order and put finances last on your worry list.
The new year is a great opportunity to get organized, especially when it comes to finances. Redstone Federal Credit Union’s April James has provided five tips to help individuals organize their finances. The first tip is to review last year’s finances, looking at bank statements and tracking expenses to determine where money was spent and where changes can be made for the new year. The second tip is to organize a budget for the year, taking into account significant expenses such as graduations or home repairs. Utilizing a financial institution’s app or a budgeting app can help individuals stay on track and organized with their spending. The third tip is to create savings goals, using last year’s expenses as a guide to establish an emergency savings fund. Unwanted items can be sold to jump-start savings, and participating in a savings challenge with friends and family can make saving money more enjoyable. The fourth tip is to review credit reports, disputing any discrepancies and looking for ways to improve or maintain a good credit rating. Lastly, individuals should review important documents and shred items they no longer need, keeping digital items organized in folders and using apps or creating a separate email for digital receipts. By taking these steps, individuals can organize their finances and reduce stress.
