6 Moves All Consumers Can Make To Get Their Finances in Order for 2022

6 Moves All Consumers Can Make To Get Their Finances in Order for 2022

By: Tracy Van Brunt, Director of Digital Contact

January 21, 2022

The start of a new year offers a perfect time for consumers to review their finances. To set yourself up for financial success this year, it’s crucial to take steps now to improve your financial situation. Determining achievable goals, utilizing technology and taking advantage of your financial benefits can all yield immediate results that increase your bank balance and enhance your financial wellbeing. At Affinity Federal Credit Union, we recommend making these six steps part of your new year financial planning:

young couple views finances

  1. Set financial goals for the year: Do you want to pay off debt? Build your emergency savings? Figure out what you want to accomplish this year and set achievable milestones throughout the year, then create a budget that will help you reach them. Affinity members can use the Money Management tool on the online banking platform to set a budget and monitor spending.1
  2. Enable notifications: Affinity offers members the option to receive text notifications on their account balances and/or transaction alerts through the Affinity FCU Card App. Enabling one or both of these options can provide a constant pulse on how much money you have in your account and how much you’re spending. Getting daily updates will empower you to stay on track to achieve your goals.
  3. Utilize high-yield savings and cash-back debit cards: Inflation has impacted us all, as many necessities like food and gas have significantly increased in price. Now is the time to make sure your savings and checking accounts are helping you save as much as possible. Affinity offers competitive interest rates on our SmartStart Savings accounts2 and monthly cash rewards on our Cash Back Debit checking accounts.3 If you’re already a member, you can upgrade by using Affinity’s Self Service Request Center in our online banking platform.
  4. Review your credit card benefits: The more cash in your pocket, the better, and many credit cards offer cash-back rewards that you may be missing out on. At the beginning of this year, review your credit cards to make sure you are leveraging their rewards to benefit you. If you don’t have a credit card with a good cash-back program, Affinity offers many different cards 4 that can help you on your journey to financial wellbeing. For more information, read our previous blog post on credit card benefits.5
  5. Automate your payments: Sometimes, missing a bill payment by even a few days can lead to late charges and additional fees. To avoid these penalties, we recommend automating your bill payments. Through Affinity’s online banking platform, you can add bills to your account so they will be paid automatically by the respective due dates. This can help you maintain good payment habits while reducing the effort you need to make. It also allows you to know exactly when bills will be paid as you plan your monthly budget.
  6. Add security authentications: Protecting your money may be the most important step in achieving financial wellness. As you work to accomplish your goals, you need the peace of mind that your money is safe. That’s why it’s smart to add security authentications to your banking account. To learn more, read our blog on tips to prevent ID theft.6

Financial wellbeing isn’t just about good money management, but also emotional health. Being in control of your finances will help decrease the time spent stressing over account balances and budgets. At Affinity, our members’ wellbeing is our top priority, so we offer products and resources that can help you better manage your money. Taking the steps outlined above can provide you with the confidence and control to fulfill your financial goals.

This information is for informational purposes only and is intended to provide general guidance and does not constitute legal, tax, or financial advice. Each person’s circumstances are different and may not apply to the specific information provided. You should seek the advice of a financial professional, tax consultant, and/or legal counsel to discuss your specific needs before making any financial or other commitments.

  1. Retrieved from: https://www.affinityfcu.com/tips-and-tools/affinity-connect-blog/2021/resolve-to-improve-your-financial-wellbeing-with-these-3-tips.aspx
  2. Retrieved from: http://cloud.connect.affinityfcu.com/smartstartsavings
  3. Retrieved from: http://cloud.connect.affinityfcu.com/cashback
  4. Retrieved from: https://www.affinityfcu.com/Credit-Cards/index.aspx
  5. Retrieved from: https://www.affinityfcu.com/tips-and-tools/affinity-connect-blog/2021/credit-card-benefits-you-didnt-know-you-were-missing.aspx
  6. Retrieved from: https://www.affinityfcu.com/tips-and-tools/affinity-connect-blog/2021/tips-for-identity-theft-prevention.aspx