The spring season is a motivating time for many to clean, sort, and tidy up around the house. Here are Century Next, we encourage consumers to add "financial organization" to the spring cleaning to-do list. To help, we have highlighted six tips for organizing your financial house.
“People are motivated to get things done when the weather warms up and the flowers bloom, which makes it an ideal time to look closely at your savings and spending habits,” said Sheri Burt, Vice President of Lending. “Putting in the work now will help you live your best life in the months ahead.”
CNext recommends these six tips to help consumers organize their finances:
1. Review your budget. A lot can change in a year. If you’ve been promoted, had a child, or became a new homeowner or renter, be sure to update your budget. Determine what expenses demand the most money and identify areas where you can realistically cut back. Develop a strategy for spending and saving – and stick to it.
2. Evaluate and pay down debt. Take a look at how much you owe and what you are paying in interest. Begin paying off existing debt, whether that’s by chipping away at loans with the highest interest rates or eliminating smaller debt first.
3. Set up automatic bill pay. By signing up for automatic bill pay, you’ll never have to worry about a missed payment impacting your credit score or costing you late fees. You can set it so that money is withdrawn from your checking account on the same day each month.
4. Sign up for e-statements, paperless billing, and text alerts. Converting to paperless billing will help keep your house—physical and financial—cleaner and more organized, and can help protect you from fraud. With CNext online banking and the Brella app, you can schedule text messages to alert you when certain transactions happen. The Brella app also alerts you when potential fraudulent debit card transactions occur.
5. Check your credit report. Federal law allows you to receive one free copy of your credit report every year from each of the three credit bureaus - Equifax, Experian, and TransUnion. Take advantage of these free reports and check them for any possible errors. Mistakes can drag down your score and prevent you from getting a loan or cause you to pay a higher than necessary interest rate. Visit www.annualcreditreport.com to obtain your free credit report.
6. Manage your money on the go. Use the CNext mobile app to check your balance, pay bills, transfer funds, and even deposit a check from wherever you are.
Let us help you with your checking and savings needs. Give us a call at 866-454-9228 or visit your local Century Next Bank branch today.
