Fast Tips for a Financially Fit New Year
When the countdown ends, it’s the perfect time to reset your own clock as well. There are plenty of simple ways to ensure a great financial start to the New Year, and at BMI Federal Credit Union, we’ve got you covered!
Dig Out of Debt with a Holiday Loan
We love to tout the Holiday Loan, because it makes it so easy to pay off holiday debt. There's just no reason to be paying high interest rates on credit cards and department store "rewards" cards. Check out a Holiday Loan today! This offer ends January 31, 2020.
Find the Best Discounts
Saving after the holidays is important, but we still have goals and expenses in the New Year. The start of the year is the perfect time of year for gym and sports club memberships, including discounts on start-up fees and monthly fees. Ask about student, senior, military, and corporate discounts! Already belong to a facility? Chances are they will honor those new deals for you too.
Reduce Your Bills
Did you know you can call your cable, energy, and internet service providers to negotiate a lower bill? Ask about New Year deals. While you’re at it, reconsider some of your services all together. More and more people are trading in their expensive cable package for services like Netflix or Hulu, which cost around $10 per month. It’s also a great time to evaluate your energy needs. Turn down the heat while you’re not at home, and turn off lights when you’re out of the room. Get a few house plants to circulate the air in your home without running your fan.
Make a Monthly Resolution
Setting goals for the whole year can be overwhelming. Sometimes we bite off more than we can chew and end up abandoning our lofty commitments. Set monthly resolutions for yourself instead. A good place to start is to evaluate your excess spending, and then negotiate with yourself! Perhaps it’s, “I’ll only eat out once this month” or “I won’t buy a coffee each morning for this month”. When the month ends, you can keep your goal or make a new one. You will save money, learn what you can live without, and increase your financial self-discipline.
Work Smarter Not Harder
We love to talk about My Finance Tool! Some of the best ways to make healthy financial changes is to monitor your income, reduce your spending, save often, and manage your accounts well. My Finance Tool allows you to do all this and more. You can separate spending by merchant or date, see where you spend the most, and set financial goals. All your accounts, all in one place. Login to Online Banking and click on the My Finance Tool in the menu bar.
Need a Little Extra Help?
Come visit us at any of our FREE community workshops designed to get a fresh start on your financial goals. You can also stop by any of our five branches in Columbus, Dublin, or Westerville, or call 614.707.4000. We are here to help and improve your financial lives!
*APR = Annual Percentage Rate. Rates available as of November 1, 2019. A $1,000 loan will be 12 monthly payments of $87.01. A $3,000 loan will be 24 monthly payments of $136.55. A $5,000 loan will be 36 monthly payments of $160.13. Only one Holiday Loan per member. Members with existing Holiday Loans are eligible and will need to combine their existing Holiday Loan into the new loan. No Payment for 60 days. Rates, terms, and conditions are subject to change and may vary based on creditworthiness, and qualifications. All loans subject to approval. Membership eligibility requirements apply. Offer ends January 31, 2020.